The Stamford-based firm reported a quarterly profit of $753 million, or $12.03 per share, marking a significant jump from the $622 million earned during the same period last year. On an adjusted basis, earnings reached $12.76 per share, clearing the $11.54 consensus target set by Wall Street analysts. Revenue climbed to $4.41 billion, fueled by a 13% increase in rental revenue to $3.85 billion.
In section Market Quotes
United Rentals Shares Climb After Raised Annual Forecast
A 12% surge in stock price greeted United Rentals on Thursday after the equipment giant shattered second-quarter profit expectations. Driven by strong demand, the company boosted its full-year revenue guidance to a range of $17.5 billion to $17.8 billion, comfortably outpacing analyst estimates of $17.32 billion.
Investors have responded aggressively to the growth, pushing the company's year-to-date gains to 43%. This performance reinforces the company's position as a barometer for industrial and construction activity, as its previous revenue outlook of $16.9 billion to $17.4 billion now looks conservative against the backdrop of sustained market demand.
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