Posted April 22, 2010
United Rental's revenues, earnings down
United Rentals Inc. announced total Q1 revenue of $478 million, while rental revenue was $380 million, compared with $594 million and $448 million, respectively, for the same period last year.
The company reported a first quarter 2010 net loss of $40 million, or 67 cents per diluted share, compared with a net loss of $19 million, or 32 cents per diluted share, for the same period in 2009. Adjusted EPS for the quarter, which excludes the impact of special items, was a loss of 57 cents per diluted share, compared with a loss of 32 cents per diluted share the prior year.
Michael Kneeland, chief executive officer of United Rentals, said, "Twelve months ago, we were in the midst of an economic free fall in our end markets. Today we see signs of a more positive outlook for our industry, with the foremost indicator being used equipment prices."
