United Rentals Inc. (NYSE: URI), Stamford, CT, reported sales for the third quarter of $1.3 billion, an increase of 7.5 percent compared to the same period a year ago. Profit nearly doubled to $143 million, compared to a year-ago profit of $73 million.
Michael Kneeland, CEO, said, "We leveraged increasing demand for our services to put more equipment on rent at higher utilization, and with sequential monthly rate improvements throughout the quarter. This is the environment we anticipated when we set our full year financial targets, and we expect that nonresidential construction will continue to trend upward in 2014."
For the first nine months, sales were $3.6 billion, an increase of 5.9 percent compared to the same period a year ago. Profit was $247 million, compared to a year-ago profit of $34 million.