2018 Annual Report
2018 ANNUAL REPORT The New NY Bridge Project serve customers in a growth environment. We Letter to our increased rental revenue across all our regions and verticals, and we continued to foster organic growth through cross-selling. This was aided by Stockholders the expansion of our specialty segment to 323 Our record performance in 2018 underscored locations. our ability to capitalize on demand through a combination of scale, technology and other Furthermore, while the U.S. equipment rental sustainable competitive advantages. This is industry grew by a solid 8% in 2018, we grew how we best serve our customers and create faster. Our rental revenue, pro-forma for 2017 value for our investors. acquisitions, increased 10.5% year-over-year. Growth is synergistic for us: it creates the We entered 2018 from a position of strength, with potential for greater efficiency and generates a large and diversified presence in North America. cash that we use to advance our strategy. During the year, we acquired BakerCorp, a fluid solutions specialist business, and BlueLine, a In 2018, in addition to allocating capital for national construction equipment rental company, M&A, rental fleet, technology and productivity as well as several smaller operations. These initiatives, we embarked on a $1.25 billion share transactions helped us reach a new milestone of repurchase program to provide further value for over $8 billion in annual revenue. our stockholders. We intend to complete the program in 2019. For the full year 2018, United Rentals delivered GAAP earnings per diluted share of $13.12, Value through Productivity compared with $15.73 for the full year 2017.
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