United Rentals posts higher second-quarter profit on equipment demand
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FILE PHOTO: The sign outside of the United Rentals store in Denver, Colorado July 19, 2017. REUTERS/Rick Wilking/File Photo
(Reuters) - Equipment rental firm United Rentals posted a 7.6% rise in second-quarter profit on Wednesday, backed by robust demand for industrial tools and higher rental rates.
Industrial equipment demand from commercial construction firms, warehouses and manufacturers was strong during the quarter as government spending boosted infrastructure and on-shoring activities.
The Stamford, Connecticut-based company posted a net income of $636 million, or $9.54 per share, compared with $591 million, or $8.58 per share, a year ago.
Total revenue rose to nearly $3.8 billion from about $3.5 billion a year ago.
(Reporting by Aatreyee Dasgupta in Bengaluru; Additional reporting by Nathan Gomes; Editing by Devika Syamnath)
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