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United Rentals Q3 profit climbs 23.7% YOY

United Rentals Inc. said its third-quarter normalized net income came to $2.94 per share, compared with the S&P Capital IQ consensus estimate of $3.03 per share.

EPS increased 24.9% year over year from $2.35.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $251.3 million, a gain of 23.7% from $203.1 million in the prior-year period.

The normalized profit margin climbed to 14.2% from 13.5% in the year-earlier period.

Total revenue grew 17.1% on an annual basis to $1.77 billion from $1.51 billion, and total operating expenses increased 17.1% from the prior-year period to $1.27 billion from $1.08 billion.

Reported net income grew 6.8% year over year to $199.4 million, or $2.33 per share, from $186.7 million, or $2.16 per share.