United Rentals (URI) Tops Q1 EPS by 12c, Raises FY 2017 Guidance

United Rentals (NYSE: URI) reported Q1 EPS of $1.63, $0.12 better than the analyst estimate of $1.51. Revenue for the quarter came in at $1.36 billion versus the consensus estimate of $1.33 billion.

GUIDANCE:

United Rentals sees FY 2017 revenue of $6.05-6.25 billion, prior range was $5.75-$5.95 billion.

Michael Kneeland, chief executive officer of United Rentals, said, "We were pleased with our momentum in the first quarter, particularly our 7% growth in volume and record time utilization driven by strength in our core construction markets. It was also encouraging to see positive trends in our upstream oil and gas business after the headwinds faced over the last several years. While our rental rates remained under some pressure, they continue to support our reaffirmed standalone 2017 guidance for total revenue, adjusted EBITDA and capital spending, and our increased guidance for free cash flow."

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

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