United Rentals raises annual sales forecast on strong equipment rentals demand

United Rentals, Inc.

United Rentals, Inc.

URI

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- United Rentals URI.N reported a record quarterly revenue and raised annual sales forecast on Wednesday, driven by strong demand for equipment rentals from large construction and industrial projects, sending its shares up 10% after the bell.

While higher fuel and energy costs continue to pressure consumer spending, investment in AI infrastructure, data centers and energy projects is driving growth for companies such as United Rentals.

Here are some details:

  • The Stamford, Connecticut-based company raised its full-year revenue forecast to $17.5 billion to $17.8 billion, from $16.9 billion to $17.4 billion earlier.

  • Analysts on average expect annual sales of $17.27 billion, according to data compiled by LSEG.

  • The company posted an adjusted profit of $12.76 per share during the second quarter, up 22% from the year ago. Analysts estimated a profit of $11.53 per share.

  • Total quarterly revenue grew 12% to $4.41 billion.

  • Revenue from the company's general rental business — its biggest segment — rose about 6.6% to $2.42 billion.

  • The specialty rentals segment saw a nearly 25% rise in revenue to $1.43 billion.