United Rentals (URI) Tops Q3 EPS by 18c, Revenues Beat; Boosts FY18 Revenue Outlook Above Consensus

United Rentals (NYSE: URI) reported Q3 EPS of $4.74, $0.18 better than the analyst estimate of $4.56. Revenue for the quarter came in at $2.12 billion versus the consensus estimate of $2.02 billion.

CEO Comments

Michael Kneeland, chief executive officer of United Rentals, said, "We are pleased with the strength of our third quarter results, including the acceleration in volume growth and improved margins. Our rates were again positive for each month in a competitive market, while time utilization remained robust. We continue to make good progress integrating Baker into our specialty operations, and look forward to beginning that process with BlueLine this quarter."

Kneeland continued, "Our updated guidance reflects the combination of strong market demand and the contributions from our completed acquisitions, which, together with internal and external indicators, point to a solid fourth quarter and healthy momentum into 2019. Our strategy remains highly focused on driving profitable growth across our core businesses, integrating our recent acquisitions and leveraging our cash flows to maximize shareholder value."

GUIDANCE:

United Rentals sees FY2018 revenue of $7.77-7.87 billion, versus the consensus of $7.75 billion.

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

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