United Rentals: 4Q Earnings Snapshot
STAMFORD, Conn. (AP) _ United Rentals Inc. (URI) on Wednesday reported fourth-quarter earnings of $338 million.
The Stamford, Connecticut-based company said it had net income of $4.49 per share. Earnings, adjusted for non-recurring costs, were $5.60 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $5.32 per share.
The equipment rental company posted revenue of $2.46 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.39 billion.
For the year, the company reported profit of $1.17 billion, or $15.11 per share. Revenue was reported as $9.35 billion.
United Rentals expects full-year revenue in the range of $9.4 billion to $9.8 billion.
United Rentals shares have fallen almost 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $152.26, a rise of 22% in the last 12 months.