The 2020 Mid-Year Economic Update_long

United Rentals Sales Up 7.1% in 1Q

Rental revenues up 9.7% year-over-year.

United Rentals Inc. (NYSE: URI), Stamford, CT, reported sales for the first quarter of $1.2 billion, up 7.1 percent from the previous year. Rental revenues were up 9.7 percent to $1 billion. Net income was $60 million, compared with a net income of $21 million in the first quarter of 2013.

"Despite the headwind of a harsh winter, we strategically managed our business to capitalize on pockets of opportunity," said Michael Kneeland, CEO of United Rentals. "We now see solid demand in almost every market, giving us further confidence in our full-year outlook.The feeling in the field is upbeat; our customers and managers are bullish about business prospects, including the long-awaited recovery in commercial construction."

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