Item 2.02. Results of Operations and Financial Condition. On October 28, 2020, United Rentals, Inc. issued a press release reporting its results of operations for the quarter ended September 30, 2020. A copy of the press release is being furnished with this report as Exhibit 99.1.




Item 7.01.  Regulation FD Disclosure.
Certain information concerning our business and financial results that the
Company expects to use at certain investor meetings and presentations can be
accessed currently on the Company's website, www.unitedrentals.com. Such
information will be maintained on the Company's website for at least the period
of its use at such meetings and presentations or until superseded by more
current information.
The presentation includes certain financial measures - free cash flow, earnings
before interest, taxes, depreciation and amortization ("EBITDA"), adjusted
EBITDA and adjusted earnings per share ("adjusted EPS") - that are "non-GAAP
financial measures" as defined under the rules of the Securities and Exchange
Commission. Free cash flow represents net cash provided by operating activities
less purchases of, and plus proceeds from, equipment, and plus excess tax
benefits from share-based payment arrangements. The equipment purchases and
proceeds represent cash flows from investing activities. EBITDA represents the
sum of net income (loss), loss on discontinued operations, net of tax, provision
(benefit) for income taxes, interest expense, net, interest expense-subordinated
convertible debentures, net, depreciation of rental equipment and non-rental
depreciation and amortization. Adjusted EBITDA represents EBITDA plus stock
compensation expense, net, and the impact of the defined special items. Adjusted
EPS represents diluted EPS from continuing operations plus the impact of the
defined special items.
The presentation includes reconciliations of these non-GAAP financial measures
to their nearest generally accepted accounting principles financial measures.
The Company believes that: (i) free cash flow provides useful additional
information concerning cash flow available to meet future debt service
obligations and working capital requirements; (ii) EBITDA and adjusted EBITDA
provide useful information about operating performance and period-over-period
growth, and help investors gain an understanding of the factors and trends
affecting our ongoing cash earnings, from which capital investments are made and
debt is serviced; and (iii) adjusted EPS provides useful information concerning
future profitability. However, none of these measures should be considered as
alternatives to net income, cash flows from operating activities or earnings per
share under GAAP as indicators of operating performance or liquidity.

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