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United Rentals (URI - Get Report) rose $7.30 to $123.32, a 6.29% increase, at the close Thursday after the company reported its rental rates increased 2.2%, beating Wall Street's conservative estimate of a 1.5% increase. The rental company reported Wednesday after the bell a beat on revenue and adjusted earnings.

Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were $4.85 a share vs. estimates of $4.77 a share.  

The company's revenue for the quarter also increased by almost 20% from the same time last year from $1.922 billion to $2.306 billion. Net income in the quarter increased from the previous year but fell from the third quarter from $333 million to $310 million.

Rental revenue also rose by 21% from the previous year, that's 86% of its total revenue in the year. 

Adjusted EBITDA increased by 18% to $1.117 billion from the same time a year ago.

"We delivered strong fourth-quarter results, including broad volume growth and rental rate improvement, in a year that leveraged our numerous competitive advantages," United Rentals CEO Michael Kneeland said in the press release. "Our integration of major acquisitions expanded our service offering, and we gained traction from investments in fleet and technology."

In the past year, United Rentals acquired both BakerCorps International, Inc. and Vander Holdings Corp. with its subsidiary BlueLine, which added $1.081 billion in revenue for United Rentals, according to the company's SEC filing.

Company officials cited these acquisitions as being the main reason its time utilization decreased from 69.5% in 2017 to 68.6% this year.

The company's outlook remained unchanged for 2019 with total revenue of $9.15 billion-$9.55 billion and adjusted EBITDA coming in at $4.35 billion-$4.55 billion.

United Rental's stock has dropped by 33% over the past year, from $185.52 to its current trading price.