Equipment rental company United Rentals (NYSE: URI) will be announcing earnings results tomorrow afternoon. Here’s what you need to know.
United Rentals beat analysts’ revenue expectations by 3.9% last quarter, reporting revenues of $4.10 billion, up 9.8% year on year. It was a strong quarter for the company, with a solid beat of analysts’ organic revenue and adjusted operating income estimates.
Is United Rentals a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting United Rentals’s revenue to grow 4.1% year on year to $3.63 billion, slowing from the 6.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $8.81 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. United Rentals has missed Wall Street’s revenue estimates four times over the last two years.
Looking at United Rentals’s peers in the industrial distributors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 2.7%, missing analysts’ expectations by 1.7%, and Herc reported revenues up 7.1%, topping estimates by 1%. Richardson Electronics traded down 17.2% following the results.
Read our full analysis of Richardson Electronics’s results here and Herc’s results here.
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