United Rentals (URI) Tops Q3 EPS by 23c

United Rentals (NYSE: URI) reported Q3 EPS of $2.57, $0.23 better than the analyst estimate of $2.34. Revenue for the quarter came in at $1.55 billion versus the consensus estimate of $1.55 billion.

United Rentals sees FY2015 revenue of $5.8-5.9 billion, versus the consensus of $5.85 billion.

Michael Kneeland, chief executive officer of United Rentals, said, "The third quarter unfolded much as we had anticipated. We delivered a robust performance in our Trench Safety and Power & HVAC businesses, aided by cross-selling. As expected, we saw rate and time pressure on our general rental business from the continued impact of upstream oil and gas activity and a weak Canadian dollar. We ran our operations with great cost discipline in this environment, generating solid financial results and strong free cash flow. Our EBITDA margin, at over 50%, was the highest of any quarter in our company’s history."

Kneeland continued, "Based on our year-to-date performance, and our visibility into fourth quarter, we’ve reaffirmed our full year outlook for 2015. We’re now in the midst of planning for 2016, which we believe will be another solid year of industry growth. This is supported by customer optimism and industry forecasts for 2016 and several years beyond. All of these factors, as well as the timing of current headwinds, will shape how we manage capex, rates and utilization in the coming year."

For earnings history and earnings-related data on United Rentals (URI) click here.

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