United Rentals (NYSE: URI) reported Q2 EPS of $3.85, $0.41 better than the analyst estimate of $3.44. Revenue for the quarter came in at $1.89 billion versus the consensus estimate of $1.85 billion.

CEO Comments

Michael Kneeland, chief executive officer of United Rentals, said, "We were very pleased with the momentum of our business in the second quarter, as strong gains in volume and rates helped drive better than 11% growth in pro forma rental revenue. Importantly, demand remained robust across our construction and industrial verticals in both the U.S. and Canada. The Neff integration is largely complete, and we look forward to getting the process started with Baker this quarter."

Kneeland continued, "Everything we see internally and externally points to a durable cycle and continued industry discipline in managing fleet growth. Given this backdrop, we’ve raised our 2018 guidance for total revenue, adjusted EBITDA and capex. We remain focused on executing a balanced strategy of growth and returns to maximize long-term value."

GUIDANCE:

United Rentals sees FY2018 revenue of $7.5-7.7 billion, versus the consensus of $7.62 billion.

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