United Rentals Inc

URI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$898.00	Sqf	Yhmnttdpr

United Rentals Earnings: Demand Environment Continues to Remain Positive

Dawit Woldemariam

Apr 27, 2023

United Rentals reported solid first-quarter earnings, showing demand for rental equipment remains solid. Our fair value estimate increased to $424 (from $416 previously), largely due to the time value of money since our last update. The market did send United Rentals' shares down over 4% in intraday trading. We believe this is due to the company’s slight miss on earnings per share in the quarter. In our view, the stock continues to trade in slightly undervalued territory, roughly 14% below our fair value estimate.

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