Earnings Surge at United Rentals

But results fall short of analysts' expectations.
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United Rentals

(URI) - Get Report

Tuesday reported its third-quarter earnings rose 25% from the year-ago period.

The Greenwich, Conn., equipment rental company earned $95 million, or 85 cents a share, in the quarter, compared with $76 million, or 71 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of $99.13 million, or 87 cents a share.

Third-quarter revenue rose 9.3% from a year ago to $1.07 billion. Analysts were expcting $1.09 billion.

Third-quarter operating income rose 24.9% from a year ago to $216 million, and operating margin increased to 20.2% from 17.7%, a year ago.

By segment, third-quarter operating earnings from its general rentals segment increased 21.8% from a year ago to $190 million; from the trench safety, pump and power segment, it remained constant at $18 million compared with a year ago; and from the traffic control segment, operating profit increased to $8 million as compared with an operating loss of $1 million the previous year.

The company expects full-year earnings in the range of $2.12 to $2.22 a share as compared to analysts' expectation of $2.28 a share.

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