United Rentals Reaffirms FY19 Outlook - Quick Facts

(RTTNews) - Equipment rental company United Rentals Inc. (URI) on Monday reaffirmed its outlook for the full-year 2019 ahead of its meeting with investors at the Melius Research Industrials Conference, on June 4, 2019 and UBS Global Industrials and Transportation Conference, on June 6, 2019, both in New York City.

For fiscal 2019, the company continues to project total revenues in the range of $9.15 billion to $9.55 billion and adjusted EBITDA in the range of $4.35 billion to $4.55 billion.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $9.35 billion for the year. Analysts' estimates typically exclude special items.

Additionally, the company's board of directors has approved an enhanced capital allocation strategy that remains focused on balancing growth and returns.

Specifically, the company is lowering its targeted leverage range to 2.0x-3.0x, from 2.5x-3.5x. The company expects to end the year with a net leverage ratio of approximately 2.5x versus a reported net leverage ratio of 2.9x as of March 31, 2019.