United Rentals Expects Lower 2002 Results

July 1, 2002
Industry-leading United Rentals said today that it expects earnings through 2003 to fall below expectations because of a delay in the expected recovery

Industry-leading United Rentals said today that it expects earnings through 2003 to fall below expectations because of a delay in the expected recovery in nonresidential construction spending.

For the second quarter ended June 30, United expects to report earnings per share of 50 cents to 54 cents per share. Analysts were expecting earnings of 57 cents to 60 cents per share, with an average estimate at 58 cents, according to Thomson First Call.

Greenwich, Conn.-based United, No. 1 on the RER 100, is expecting $1.70 per share for its 2002 year and $2.50 per share for 2003. First Call had predicted estimates of about $1.90 per share for 2002, jumping to almost $2.60 per share for 2003.