United Rentals, Inc. (URI) CEO Matt Flannery on Q1 2022 Results - Earnings Call Transcript

United Rentals, Inc. (NYSE:URI) Q1 2022 Results Conference Call April 28, 2022 11:00 AM ET

Company Participants

Matt Flannery - President and Chief Executive Officer

Jessica Graziano - Chief Financial Officer

Conference Call Participants

David Raso - Evercore

Robert Wertheimer - Melius Research

Steven Fisher - UBS

Ross Gilardi - Bank of America Merrill Lynch

Jerry Revich - Goldman Sachs

Mig Dobre - Robert W. Baird

Ken Newman - KeyBanc Capital Markets

Stanley Elliott - Stifel

Scott Schneeberger - Oppenheimer

Seth Weber - Wells Fargo

Stephen Volkmann - Jefferies

Operator

Good morning, and welcome to the United Rental's Investor Conference Call. Please be advised that this call is being recorded.

Before we begin, note that the Company's press release, comments made on today's call and responses to your questions contain forward-looking statements. The Company's business and operations are subject to a variety of risks and uncertainties, many of which are beyond its control.

And consequently, actual results may differ materially from those projected. A summary of these uncertainties is included in the safe harbor statement contained in the Company's press release. For a more complete description of these and other possible risks, please refer to the Company's annual report on Form 10-K for the year ended December 31, 2021, and as well as subsequent filings with the SEC. You can access these filings on the Company's website at www.unitedrentals.com.

Please note that United Rentals has no obligation and makes no commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations.

You should also note that the Company's press release and today's call include references to non-GAAP terms such as free cash flow, adjusted EPS, EBITDA and adjusted EBITDA. Please refer to the back of the Company's recent investor presentations to see the reconciliation from each non-GAAP financial measure to the most comparable GAAP financial measure.

Speaking today for United Rentals is Matt Flannery, President and Chief Executive Officer; and Jessica Graziano, Chief Financial Officer.

I will now turn the call over to Mr. Flannery. Mr. Flannery, you may begin.

Matt Flannery

Thank you, operator, and good morning, everyone. Thanks for joining our call. I want to frame my comments today around one word, demand. 2022 is shaping up to be a year of record demand for our services, and this is the driving force behind the strong first quarter results we reported, and it underpins our decision to update our guidance.