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United Rentals Q2 profit climbs 24.8% YOY

United Rentals Inc. said its second-quarter normalized net income came to $1.77 per share, compared with the S&P Capital IQ consensus estimate of $1.82 per share.

EPS rose 34.8% year over year from $1.31.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $173.1 million, an increase of 24.8% from $138.8 million in the year-earlier period.

The normalized profit margin rose to 12.1% from 9.9% in the year-earlier period.

Total revenue climbed on an annual basis to $1.43 billion from $1.40 billion, and total operating expenses fell from the prior-year period to $1.05 billion from $1.06 billion.

Reported net income fell 9.5% from the prior-year period to $86.0 million, or 88 cents per share, from $95.0 million, or 90 cents per share.