Rental revenue growth - Rental revenue rose 12.7% year-over-year to a quarterly record, driven by increases in both general and specialty rentals segments.
Asset sale gain - Net income and adjusted EPS benefited from a $49 mln pre-tax gain on the sale of part of the scaffolding business.
Key figures and analyst view
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$4.41 bln
$4.22 bln (15 Analysts)
Q2 Adjusted EPS
Beat
$12.76
$11.53 (18 Analysts)
Q2 EPS
$12.03
Q2 Net Income
$753 mln
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell".
The average consensus recommendation for the business support services peer group is "buy".
Wall Street's median 12-month price target for United Rentals Inc is $1,165.00, about 14.9% above its July 21 closing price of $1,013.54.
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 15 three months ago.
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