United Rentals, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenues of $1,922 million against $1,523 million for the same period last year. Operating income was $462 million against $402 million for the same period last year. Income before provision for income taxes was $336 million against $242 million for the same period last year. Net income was $897 million or $10.45 per diluted share against $153 million or $1.80 per diluted share for the same period last year. Net cash provided by operating activities was $464 million against $323 million for the same period last year. Purchases of rental equipment amounted $284 million against $101 million for the same period last year. Purchases of non-rental equipment amounted $33 million against $28 million for the same period last year. Earnings per share - adjusted were $11.37 against $2.67 for the same period last year. EBITDA was $852 million against $722 million for the same period last year. Adjusted EBITDA was $947 million against $749 million for the same period last year.

For the year, the company reported total revenues of $6,641 million, against $5,762 million for the same period last year. Operating income was $1,507 million against $1,415 million for the same period last year. Income before provision for income taxes was $1,048 million against $909 million for the same period last year. Net income was $1,346 million or $15.73 per diluted share against $566 million or $6.45 per diluted share for the same period last year. Net cash provided by operating activities was $2,230 million against $1,953 million for the same period last year. Purchases of rental equipment amounted $1,769 million against $1,246 million for the same period last year. Purchases of non-rental equipment amounted $120 million against $93 million for the same period last year. Earnings per share - adjusted were $18.64 against $8.65 for the same period last year. EBITDA was $2,895 million against $2,665 million for the same period last year. Adjusted EBITDA was $3,164 million against $2,759 million for the same period last year.

The company also provided the earnings guidance for the full year 2018. For the year, the company expects net cash provided by operating activities in the range of $2.625 billion to $2.825 billion. Net rental capital expenditures after gross purchases are expected to be in the range of $1.2 billion to $1.35 billion. Free cash flow (excluding merger and restructuring related payments, such payments were $76 million in 2017) is expected to be in the range of $1.3 billion to $1.4 billion. Total revenue is expected to be in the range of $7.3 billion to $7.6 billion. Adjusted EBITDA is expected to be in the range of $3.60 billion to $3.75 billion. The company expects an effective tax rate of approximately 25% in 2018.