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United Rentals profit misses consensus by 19.2% in Q1

United Rentals Inc. said its normalized net income for the first quarter was $1.25 per share, compared with the S&P Capital IQ consensus estimate of $1.55 per share.

EPS rose 15.3% year over year from $1.09.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $106.9 million, a gain of 8.2% from $98.8 million in the prior-year period.

The normalized profit margin increased to 7.9% from 7.5% in the year-earlier period.

Total revenue rose on an annual basis to $1.36 billion from $1.31 billion, and total operating expenses increased year over year to $1.09 billion from $1.04 billion.

Reported net income increased 18.0% on an annual basis to $108.4 million, or $1.27 per share, from $91.9 million, or $1.01 per share.