United Rentals, Inc.
URI
Delayed Nyse - 04/21 10:02:05 pm
111.46USD
-1.57%

United Rentals : tops 1Q profit forecasts

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04/19/2017 | 10:23 pm

STAMFORD, Conn. (AP) _ United Rentals Inc. (URI) on Wednesday reported first-quarter profit of $109 million.

On a per-share basis, the Stamford, Connecticut-based company said it had profit of $1.27. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to $1.63 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.

The equipment rental company posted revenue of $1.17 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.34 billion.

United Rentals expects full-year revenue in the range of $6.05 billion to $6.25 billion.

United Rentals shares have risen 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $119.45, a climb of 95 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on URI at https://www.zacks.com/ap/URI

Keywords: United Rentals, Earnings Report

Automated Insights, source Associated Press News

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