United Rentals Updates Full Year Outlook - Quick Facts

(RTTNews) - United Rentals, Inc. (URI) announced the company now expects its fiscal 2016 adjusted EBITDA to be in a range of $2.65 billion to $2.75 billion, down from the prior guidance range of $2.7 billion to $2.9 billion. For fiscal 2016, the company now expects total revenue to be in a range of $5.6 billion to $5.8 billion, down from prior estimate of $5.65 billion to $5.95 billion.

For the first quarter 2016, United Rentals reported adjusted EBITDA of $584 million, down $18 million from the same period last year. Adjusted EPS for the quarter was $1.40. On a GAAP basis, the company reported first quarter net income of $92 million, or $1.01 per share, compared to $115 million, or $1.16 per share, for the same period last year.

First-quarter total revenue was $1.310 billion and rental revenue was $1.117 billion, compared to $1.315 billion and $1.125 billion, respectively, for the same period last year.

Shares of United Rentals were down more than 6% after hours.