United Rentals Raises 2018 Total Revenue, Adj. EBITDA Guidance - Quick Facts

(RTTNews) - United Rentals, Inc. (URI) announced, for 2018, the company now projects adjusted EBITDA in a range of $3.765 billion to $3.815 billion, revised from prior range of $3.715 billion to $3.815 billion. Total revenue is now expected in a range of $7.77 billion to $7.87 billion, up from previous guidance range of $7.64 billion to $7.84 billion. The company noted that the revised full-year guidance does not include the impact of the pending acquisition of BlueLine.

Michael Kneeland, CEO of United Rentals, said: "Our updated guidance reflects the combination of strong market demand and the contributions from our completed acquisitions, which, together with internal and external indicators, point to a solid fourth quarter and healthy momentum into 2019. Our strategy remains highly focused on driving profitable growth across our core businesses, integrating our recent acquisitions and leveraging our cash flows to maximize shareholder value."

For the third-quarter, adjusted EPS was $4.74, compared with $3.25, last year. The company noted that reduction in the tax rate contributed an estimated $0.87 to adjusted EPS for the third quarter 20182. Adjusted EBITDA was $1.059 billion, reflecting an increase of $180 million from the same period last year.

Total revenue was $2.116 billion and rental revenue was $1.861 billion for the third quarter, compared with $1.766 billion and $1.536 billion, respectively, for the same period last year. Pro forma rental revenue increased 10.9% year-over-year.