United Rentals Q3 Profit Tops Estimates; Reaffirms Full Year Outlook

(RTTNews) - United Rentals, Inc. (URI) reported that its third quarter unfolded much as it had anticipated. Adjusted EBITDA margin was a quarterly company record at 50.3%, an increase of 100 basis points from the same period last year. The company delivered a robust performance in Trench Safety and Power & HVAC businesses, aided by cross-selling. Rental revenue increased 0.8% year-over-year.

Looking forwad, the company has reaffirmed its full year outlook. The company continues to expect total revenue in the range of $5.8 billion to $5.9 billion, and adjusted EBITDA of $2.80 billion to $2.85 billion.

Adjusted EPS for the quarter was $2.57. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $2.33 for the quarter. Analysts' estimates typically exclude special items.

On a GAAP basis, the company reported third quarter net income of $215 million, or $2.25 per share, compared to $192 million, or $1.84 per share, for the same period last year.

Total revenue was $1.55 billion compared to $1.54 billion, last year. Analysts expected revenue of $1.55 billion for the quarter.