United Rentals, Inc. (NYSE: URI) has reported its third-quarter financial results, showcasing an increase in earnings compared to the same quarter last year. However, the results fell short of Wall Street's expectations.
The company recorded net earnings of $708 million, equivalent to $10.70 per share, which is a rise from $703 million or $10.29 per share enjoyed in the corresponding quarter the previous year.
Adjusting for one-time items, United Rentals reported earnings of $11.80 per share for the quarter. This figure came below the consensus expectation of $12.48 per share, as compiled by Thomson Reuters, which generally excludes extraordinary items.
The company's quarterly revenue experienced a growth of 6.0%, reaching $3.992 billion, up from $3.765 billion in the year-ago period.
Here's a snapshot of United Rentals' earnings for the third quarter based on Generally Accepted Accounting Principles (GAAP):
- Earnings: $708 million, compared to last year's $703 million.
- Earnings Per Share (EPS): $10.70 compared to $10.29 last year.
- Revenue: Increased to $3.992 billion from $3.765 billion a year earlier.
United Rentals has set its full-year revenue guidance between $15.10 billion and $15.30 billion.
