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United Rentals' latest financial report impressed investors and analysts once again. The stock has done well in the past in large part thanks to share repurchases, which is a reason for caution right now.
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Divesture marks final exit of Platinum's Yak Access Investment LOS ANGELES , July 29, 2024 /PRNewswire/ -- Platinum Equity announced today the sale of BluRoc LLC to Mollitiam Holdings. Financial terms were not disclosed.
United Rentals reported a solid quarter with shares moving up 5+% after earnings. Its business focuses on renting construction and specialty equipment, leveraging its scale and its logistics. The company benefits from several competitive advantages and offers billions to its shareholders via buybacks, a newly instated dividend.
United Rentals shares closed up 5.4% despite falling short of revenue and earnings expectations in Q2 2024. The company's growth continues to impress, and management has plans for more of it over the next few years. While shares aren't as cheap as they were in the past, they are still attractively priced and warrant further upside.
United Rentals' (URI) second-quarter results benefit from solid end markets and the strength of its core rental business. Yet, tepid Used equipment sales remain a concern.
Although the revenue and EPS for United Rentals (URI) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
United Rentals (URI) came out with quarterly earnings of $10.70 per share, beating the Zacks Consensus Estimate of $10.48 per share. This compares to earnings of $9.88 per share a year ago.
United Rentals' (URI) second-quarter 2024 results are likely to showcase solid segmental contributions on the back of strength across end-market demand. Yet, increased costs are likely to mar prospects to some extent.