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