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URI provides guidance, resumes buyback program; shares +3.1%

Published 12/11/2018, 05:16 PM
© Reuters.  URI provides guidance, resumes buyback program; shares +3.1%
URI
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  • United Rentals (NYSE:URI) is up 3.1% in postmarket action following updates from its investor day, including resumption of a share repurchase program.
  • The company reaffirmed 2018 full-year guidance, for revenue of $7.89B-$7.99B (vs. consensus for $7.91B), EBITDA of $3.815B-$3.865B, cash from operations of $2.725B-$2.875B and free cash flow of $1.25B-$1.35B.
  • For 2019, it's guiding to revenue of $9.15B-$9.55B (above consensus for $8.93B), EBITDA of $4.35B-$4.55B, cash from operations of $2.85B-$3.2B, and free cash flow of $1.3B-$1.5B.
  • It's resuming a $1.25B repurchase program that it paused on Nov. 1, to focus on integrating its acquisition of BlueLine. About $210M worth of shares were bought on the program through Sept. 30; the company intends to wrap up the full program by the end of 2019.
  • Now read: Bulletproof Investing Performance: Week 52


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