United Rentals (URI) Tops Q1 EPS by 21c; Lowers Top End of FY15 Revs Guidance

United Rentals (NYSE: URI) reported Q1 EPS of $1.34, $0.21 better than the analyst estimate of $1.13. Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.3 billion.

United Rentals sees FY2015 revenue of $6.0-6.1 billion, versus prior guidance of $6.0-6.2 billion and the consensus of $6.07 billion.

Michael Kneeland, chief executive officer of United Rentals, said, "We turned in a solid first quarter, with record revenue, EBITDA and ROIC. The year has had some early headwinds, including a decline in upstream oil and gas activity, a harsh winter, and the adverse currency impact of a strong U.S. dollar. We've offset these pressures by redistributing underutilized fleet to areas of higher demand. An improving rental landscape, and the strong performance of our power and trench specialty lines, helped drive our 12% increase in rental revenue."

Kneeland continued, "Looking to the rest of the year, we expect a continued rebound in construction activity, along with our usual seasonal uptick. We also expect secular penetration to continue. We're investing in our sales force, and we plan to open about 18 specialty rental branches this year. Our employees are excited to deliver a level of service that sets us apart in this environment."

For earnings history and earnings-related data on United Rentals (URI) click here.

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