United Rentals, Inc. (NYSE:URI) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.28%.
United Rentals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 47.22% to $0.19 in the quarter versus EPS of $0.36 in the year-earlier quarter.
Revenue: Rose 67.68% to $1.1 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: United Rentals, Inc. reported adjusted EPS income of $0.19 per share. By that measure, the company missed the mean analyst estimate of $0.48. It missed the average revenue estimate of $1.11 billion.
Quoting Management: Michael Kneeland, chief executive officer of United Rentals, said, “Our first quarter performance has given us a strong start to a pivotal year. Revenue, rates and time utilization all met or exceeded our expectations, and our adjusted EBITDA margin of 41% was a first quarter record for us. We remain solidly on track for a year of disciplined growth, including a rental rate increase of 4.5% on total revenue of approximately $5 billion.”
Key Stats (on next page)…