Equipment rental company United Rentals, Inc. (NYSE: URI) announced financial results for the first quarter of 2023, reporting a sharp increase in revenues and profit.
The company posted total revenue of $3.29 billion for the March quarter, which is up 30% from the corresponding period of 2022.
As a result, first-quarter net income increased to $451 million or $6.47 per share from $367 million or $5.05 per share in the prior-year quarter. On an adjusted basis, earnings increased 39% annually to $7.95 per share.