United Rentals Presents Strategic Vision and 2019 Financial Guidance at Investor Day; Reaffirms 2018 Guidance; Resumes Share Repurchase Program - Seite 2

 

Michael Kneeland, chief executive officer of United Rentals, said, “We’re continuing to position the company for enduring success by balancing growth, margins, returns and free cash flow. Differentiation is a critical element of our strategy – our business is firmly grounded in sustainable competitive advantages that we believe will benefit our shareholders in any environment.”

Kneeland continued, “Our 2019 guidance reflects the healthy momentum we see going into year-end and our confidence that positive conditions will prevail in the coming year. Our five 2018 acquisitions have been successfully integrated, increasing the tailwinds in our gen-rent and specialty segments. We look forward to reporting our fourth quarter results on January 23.”

Additionally, the company announced that it will resume its $1.25 billion share repurchase program this month. The program was initiated in July 2018, with approximately $210 million of shares purchased through September 30, 2018. The Company subsequently paused the program on November 1, 2018 to focus on the integration of the BlueLine acquisition. The company intends to complete the program by the end of 2019.

Amounts in millions		2018 Outlook		2019 Outlook
Net cash provided by operating activities		$2,725 to $2,875		$2,850 to $3,200
Purchases of rental equipment		$(2,000) to $(2,100)		$(2,150) to $(2,300)
Proceeds from sales of rental equipment		$600 to $700		$700 to $800
Purchases of non-rental equipment, net of proceeds from sales and insurance proceeds from damaged equipment		$(75) to $(125)		$(100) to $(200)
Free cash flow (excluding the impact of merger and restructuring related costs)		$1,250 to $1,350		$1,300 to $1,500

Non-GAAP Measures