Stock Story -
Equipment rental company United Rentals (NYSE:URI) will be announcing earnings results tomorrow afternoon. Here's what to expect.
United Rentals met analysts' revenue expectations last quarter, reporting revenues of $3.49 billion, up 6.1% year on year. It was a mixed quarter for the company, with full-year revenue guidance beating analysts' expectations but a miss of analysts' earnings estimates.
Is United Rentals a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting United Rentals's revenue to grow 6.3% year on year to $3.78 billion, slowing from the 28.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $10.51 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. United Rentals has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.7% on average.
Looking at United Rentals's peers in the industrial distributors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fastenal (NASDAQ:FAST) delivered year-on-year revenue growth of 1.8%, meeting analysts' expectations, and MSC Industrial reported a revenue decline of 7.1%, in line with consensus estimates. Fastenal traded up 5.8% following the results while MSC Industrial's stock price was unchanged.
Read the full analysis of Fastenal's and MSC Industrial's results on StockStory.
There has been positive sentiment among investors in the industrial distributors segment, with share prices up 6.5% on average over the last month. United Rentals is up 14.4% during the same time and is heading into earnings with an average analyst price target of $705.2 (compared to the current share price of $738.35).
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