United Rentals (URI) Misses Q4 EPS by 12c

United Rentals (NYSE: URI) reported Q4 EPS of $2.19, $0.12 worse than the analyst estimate of $2.31. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.53 billion.

GUIDANCE:

United Rentals sees FY2016 revenue of $5.65-5.95 billion, versus the consensus of $5.91 billion.

Michael Kneeland, chief executive officer of United Rentals, said, "While 2015 proved to be challenging in many ways, it also showcased the resilience and flexibility of our business. Our full year adjusted EBITDA dollars and margin were both records for our company, as was our strong free cash flow after capex. This was a solid performance in light of the decline in upstream oil and gas and its knock-on effects, particularly in Canada."

Kneeland continued, "Although we agree with industry forecasters that there is further growth ahead, there is still market uncertainty. For 2016, our stance is to be cautious on capex and proactive about pursuing profitable growth opportunities in areas such as our specialty rental services. In the first quarter, we plan to spend less than half of the capex we spent in the first quarter last year, and we’ll adjust our full year spend up or down based on the level of demand we experience. We expect to use our nearly billion dollars of free cash flow this year to buy back shares and pay down debt."

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

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