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United Rentals (URI) Reports Q1 Earnings: What Key Metrics Have to Say
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United Rentals (URI - Free Report) reported $3.49 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 6.1%. EPS of $9.15 for the same period compares to $7.95 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.41 billion, representing a surprise of +2.11%. The company delivered an EPS surprise of +9.58%, with the consensus EPS estimate being $8.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $2.93 billion versus the five-analyst average estimate of $2.87 billion. The reported number represents a year-over-year change of +6.9%.
Revenues- Service and other revenues: $89 million versus the five-analyst average estimate of $83.60 million. The reported number represents a year-over-year change of +12.7%.
Revenues- Contractor supplies sales: $36 million versus $35.16 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5.9% change.
Revenues- Sales of new equipment: $48 million versus $45.61 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.1% change.
Revenues- Sales of rental equipment: $383 million compared to the $370.44 million average estimate based on five analysts. The reported number represents a change of -1.3% year over year.
Revenues- Specialty- Contractor supplies sales: $16 million versus $13.60 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +23.1% change.
Revenues- Specialty- Equipment rentals: $859 million versus the two-analyst average estimate of $773.07 million. The reported number represents a year-over-year change of +19%.
Revenues- Specialty- Sales of new equipment: $19 million compared to the $26.79 million average estimate based on two analysts. The reported number represents a change of -26.9% year over year.
Revenues- Specialty- Sales of rental equipment: $37 million compared to the $37.61 million average estimate based on two analysts. The reported number represents a change of -2.6% year over year.
Revenues- Specialty- Service and other revenues: $8 million versus the two-analyst average estimate of $7.54 million. The reported number represents a year-over-year change of +14.3%.
Total Revenues- General rentals: $2.55 billion versus the two-analyst average estimate of $2.56 billion. The reported number represents a year-over-year change of +2.7%.
Revenues- General Rentals- Service and other revenues: $81 million compared to the $75.19 million average estimate based on two analysts. The reported number represents a change of +12.5% year over year.
Shares of United Rentals have returned -6.2% over the past month versus the Zacks S&P 500 composite's -3% 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) Reports Q1 Earnings: What Key Metrics Have to Say
United Rentals (URI - Free Report) reported $3.49 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 6.1%. EPS of $9.15 for the same period compares to $7.95 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.41 billion, representing a surprise of +2.11%. The company delivered an EPS surprise of +9.58%, with the consensus EPS estimate being $8.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $2.93 billion versus the five-analyst average estimate of $2.87 billion. The reported number represents a year-over-year change of +6.9%.
- Revenues- Service and other revenues: $89 million versus the five-analyst average estimate of $83.60 million. The reported number represents a year-over-year change of +12.7%.
- Revenues- Contractor supplies sales: $36 million versus $35.16 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5.9% change.
- Revenues- Sales of new equipment: $48 million versus $45.61 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.1% change.
- Revenues- Sales of rental equipment: $383 million compared to the $370.44 million average estimate based on five analysts. The reported number represents a change of -1.3% year over year.
- Revenues- Specialty- Contractor supplies sales: $16 million versus $13.60 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +23.1% change.
- Revenues- Specialty- Equipment rentals: $859 million versus the two-analyst average estimate of $773.07 million. The reported number represents a year-over-year change of +19%.
- Revenues- Specialty- Sales of new equipment: $19 million compared to the $26.79 million average estimate based on two analysts. The reported number represents a change of -26.9% year over year.
- Revenues- Specialty- Sales of rental equipment: $37 million compared to the $37.61 million average estimate based on two analysts. The reported number represents a change of -2.6% year over year.
- Revenues- Specialty- Service and other revenues: $8 million versus the two-analyst average estimate of $7.54 million. The reported number represents a year-over-year change of +14.3%.
- Total Revenues- General rentals: $2.55 billion versus the two-analyst average estimate of $2.56 billion. The reported number represents a year-over-year change of +2.7%.
- Revenues- General Rentals- Service and other revenues: $81 million compared to the $75.19 million average estimate based on two analysts. The reported number represents a change of +12.5% year over year.
View all Key Company Metrics for United Rentals here>>>Shares of United Rentals have returned -6.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.