United Rentals Q1 Adj. Profit Beats Estimate; Lifts FY14 Revenue Outlook

(RTTNews) - United Rentals, Inc. (URI) Wednesday reported first-quarter net income of $60 million or $0.56 per share, compared to $21 million or $0.19 per share in the same period last year.

Adjusted earnings for the quarter rose to $0.90 per share from $0.58 per share in the prior year quarter. On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.71 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $1.18 billion from $1.10 billion last year, while 13 analysts expected revenues of $1.18 billion.

Looking ahead to the fiscal year 2014, the company now expects revenues to be in the range of $5.45 billion to $5.65 billion, up from its previous range of $5.25 billion to $5.45 billion. Analysts currently expect full-year revenues of $5.49 billion.