STAMFORD, Conn. (AP) _ United Rentals Inc. (URI) on Wednesday reported third-quarter net income of $199 million.
On a per-share basis, the Stamford, Connecticut-based company said it had net income of $2.33. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $3.25 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3 per share.
The equipment rental company posted revenue of $1.77 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.71 billion.
United Rentals expects full-year revenue in the range of $6.53 billion to $6.63 billion.
United Rentals shares have risen 37 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $144.32, a rise of 89 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on URI at https://www.zacks.com/ap/URI
Automated Insights, source Associated Press News