Construction Safety Dispatch Articles
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United Rentals Inc. said Tuesday that its profit nearly tripled in the third quarter as its rental revenue rose 19 percent.
The equipment-rental business said its profit grew to $65 million, or 91 cents per share, from $23 million, or 33 cents per share. The company said it earned 92 cents per share if one-time items are excluded. Its revenue increased 18 percent, to $713 million from $605 million.
Analysts expected a profit of 74 cents per share and revenue of $685.8 million, according to FactSet. Shares of United Rentals jumped $1.99, or 9.5 percent, to $23.05 in aftermarket trading.
The company said its equipment rental revenue grew to $604 million from $507 million. Sales of rental equipment rose to $42 million from $32 million and sales of new equipment edged up to $24 million from $19 million. Contractor supply sales slipped to $23 million and service and other revenue declined to $20 million.
United Rentals stock picked up 82 cents, or 4.1 percent, to $21.06 on regular trading Tuesday.