United Rentals posts higher second-quarter profit on equipment demand

United Rentals

24/07/2024 22:13

July 24 (Reuters) - Equipment rental firm United Rentals
 URI.N  posted a 7.6% rise in second-quarter profit on
Wednesday, backed by robust demand for industrial tools and
higher rental rates.
    Industrial equipment demand from commercial construction
firms, warehouses and manufacturers was strong during the
quarter as government spending boosted infrastructure and
on-shoring activities.
    The Stamford, Connecticut-based company posted a net income
of $636 million, or $9.54 per share, compared with $591 million,
or $8.58 per share, a year ago. 
    Total revenue rose to nearly $3.8 billion from about $3.5
billion a year ago.

 (Reporting by Aatreyee Dasgupta in Bengaluru; Additional
reporting by Nathan Gomes; Editing by Devika Syamnath)
 ((Aatreyee.Dasgupta@thomsonreuters.com;))