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United Rentals (URI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2023, United Rentals (URI - Free Report) reported revenue of $3.55 billion, up 28.3% over the same period last year. EPS came in at $9.88, compared to $7.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.43 billion, representing a surprise of +3.54%. The company delivered an EPS surprise of +7.04%, with the consensus EPS estimate being $9.23.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how United Rentals performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Equipment rentals: $2.98 billion compared to the $2.94 billion average estimate based on two analysts.
Revenues- Sales of rental equipment: $382 million versus $267.92 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +132.9% change.
Revenues- Service and other revenues: $84 million versus $85.18 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +13.5% change.
Revenues- Contractor supplies sales: $37 million versus the two-analyst average estimate of $36.50 million. The reported number represents a year-over-year change of +12.1%.
Revenues- Sales of new equipment: $70 million versus the two-analyst average estimate of $39.96 million. The reported number represents a year-over-year change of +84.2%.
Gross Margin/Profit- Equipment rentals: $1.17 billion versus the two-analyst average estimate of $1.14 billion.
Gross Margin/Profit- Sales of rental equipment: $196 million versus the two-analyst average estimate of $120.93 million.
Gross Margin/Profit- Service and other: $33 million versus the two-analyst average estimate of $33.13 million.
Gross Margin/Profit- Contractor supplies sales: $11 million versus $9.58 million estimated by two analysts on average.
Gross Margin/Profit- Sales of new equipment: $12 million compared to the $7.35 million average estimate based on two analysts.
Shares of United Rentals have returned +6.4% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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United Rentals (URI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, United Rentals (URI - Free Report) reported revenue of $3.55 billion, up 28.3% over the same period last year. EPS came in at $9.88, compared to $7.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.43 billion, representing a surprise of +3.54%. The company delivered an EPS surprise of +7.04%, with the consensus EPS estimate being $9.23.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how United Rentals performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Equipment rentals: $2.98 billion compared to the $2.94 billion average estimate based on two analysts.
- Revenues- Sales of rental equipment: $382 million versus $267.92 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +132.9% change.
- Revenues- Service and other revenues: $84 million versus $85.18 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +13.5% change.
- Revenues- Contractor supplies sales: $37 million versus the two-analyst average estimate of $36.50 million. The reported number represents a year-over-year change of +12.1%.
- Revenues- Sales of new equipment: $70 million versus the two-analyst average estimate of $39.96 million. The reported number represents a year-over-year change of +84.2%.
- Gross Margin/Profit- Equipment rentals: $1.17 billion versus the two-analyst average estimate of $1.14 billion.
- Gross Margin/Profit- Sales of rental equipment: $196 million versus the two-analyst average estimate of $120.93 million.
- Gross Margin/Profit- Service and other: $33 million versus the two-analyst average estimate of $33.13 million.
- Gross Margin/Profit- Contractor supplies sales: $11 million versus $9.58 million estimated by two analysts on average.
- Gross Margin/Profit- Sales of new equipment: $12 million compared to the $7.35 million average estimate based on two analysts.
View all Key Company Metrics for United Rentals here>>>Shares of United Rentals have returned +6.4% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.