UK markets closed
  • FTSE 100

    7,208.81
    +188.36 (+2.68%)
     
  • FTSE 250

    19,123.71
    +430.73 (+2.30%)
     
  • AIM

    896.27
    +10.41 (+1.18%)
     
  • GBP/EUR

    1.1618
    -0.0028 (-0.24%)
     
  • GBP/USD

    1.2270
    +0.0009 (+0.07%)
     
  • BTC-GBP

    17,465.92
    +233.48 (+1.35%)
     
  • CMC Crypto 200

    462.12
    +8.22 (+1.81%)
     
  • S&P 500

    3,911.74
    +116.01 (+3.06%)
     
  • DOW

    31,500.68
    +823.32 (+2.68%)
     
  • CRUDE OIL

    107.06
    +2.79 (+2.68%)
     
  • GOLD FUTURES

    1,828.10
    -1.70 (-0.09%)
     
  • NIKKEI 225

    26,491.97
    +320.72 (+1.23%)
     
  • HANG SENG

    21,719.06
    +445.19 (+2.09%)
     
  • DAX

    13,118.13
    +205.54 (+1.59%)
     
  • CAC 40

    6,073.35
    +190.02 (+3.23%)
     

United Rentals (URI) to Buy Ford Pro's All-Electric Vehicles

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

In a bid to help its rental customers meet their greenhouse gas reduction goals, United Rentals, Inc. URI inked a deal with Ford Pro to purchase all-electric vehicles for its North American rental and company fleets.

Per the deal, United Rentals will initially receive 500 F-150 Lightning trucks, with a maximum target range of 320 miles and a towing capacity of 10,000 lbs and 30 E-Transit vans, with a target range of 126 miles along with 120 trucks and all 30 vans by 2022. These vehicles will be used by URI’s customers on construction and industrial job sites and by its sales, service and delivery personnel.

Both models are equipped with Pro Power On-board and an array of connectivity features, including F-150 Lightning’s game-changing technology — Intelligent Back-Up Power. The company expects to deploy these vehicles in second-half 2022.

Matthew Flannery, chief executive officer of United Rentals, said, “This investment expands our strategic partnership with Ford and reflects our dual commitment to alternative energy solutions for our customers and operations.”

Ford Pro Solution experts will provide charging options for URI’s customers, including home, worksite and Ford’s BlueOval Charge Network. Additionally, they will assist United Rentals with the optimal placement and use of the new vehicles in its electrification plan and installation of charging infrastructure.

United Rentals’ Strategic Initiatives Driving Growth

United Rentals is expanding geographic borders and product portfolio through acquisitions and joint ventures. As the largest equipment rental company in the world, United Rentals enjoys strong brand recognition, which enables it to draw customers and build customer loyalty. The company offers approximately 4,000 classes of rental equipment for rent on an hourly, daily, weekly or monthly basis.

United Rentals’ extensive and diverse fleet allows it to serve large customers that require a wide range of equipment. The company’s rental fleet is the largest and most comprehensive in the industry.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Shares of United Rentals have outperformed the Zacks Building Products - Miscellaneous industry so far this year. The upside is likely to continue prudent investments in fleet, accretive acquisitions and robust market demand.

Zacks Rank & Some Recent Construction Releases

Currently, United Rentals carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

TopBuild Corp. BLD reported better-than-expected results in first-quarter 2022. Its earnings and revenues surpassed their respective Zacks Consensus Estimate and improved year over year.

Strong demand, coupled with its ongoing focus on managing price, achieving operational efficiency improvements, and leveraging fixed costs, drove BLD’s results.

Gibraltar Industries, Inc. ROCK reported better-than-expected first-quarter 2022 results despite persistent supply-chain issues impacting solar customers, the solar industry and the Renewables business.

ROCK’s earnings topped analysts’ expectations in one of the trailing four quarters, with an average negative of 8.6%.

Masco Corporation MAS reported solid results in first-quarter 2022. The top and the bottom line surpassed the Zacks Consensus Estimate and increased on a year-over-year basis.

Masco’s quarterly results were mainly backed by solid demand for its products and operational efficiencies.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Masco Corporation (MAS) : Free Stock Analysis Report

Gibraltar Industries, Inc. (ROCK) : Free Stock Analysis Report

United Rentals, Inc. (URI) : Free Stock Analysis Report

TopBuild Corp. (BLD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting