United Rentals (URI) Misses Q2 EPS by 19c; Raises Outlook

United Rentals (NYSE: URI) reported Q2 EPS of $4.66, $0.19 worse than the analyst estimate of $4.85. Revenue for the quarter came in at $2.29 billion versus the consensus estimate of $2.25 billion.

GUIDANCE:

Raises FY revenue to $9.45-$9.75 billion, versus prior of $9.05-$9.45 billion and the consensus of $9.34 billion.

CEO Comment

Matthew Flannery, chief executive officer of United Rentals, said, “We were pleased with our second quarter results, which were in line with our expectations and reflected a continued recovery across our construction and industrial markets. I continue to be proud of the job our team does every day to safely support our customers as their activity levels rebound.”

Flannery continued, “Looking forward, we remain encouraged by the gains we’ve seen in end-market indicators, including our customers’ sentiment and project visibility. We are raising our guidance to reflect the expected contribution from our recently completed acquisitions, as well as accelerated momentum in our underlying business. Combined, we believe this positions us well to deliver strong growth and returns in the second half of the year.”

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

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