12.07.2008
United Rentals narrows forecasts
United Rentals, the world’s largest aerial lift operator, has narrowed its full year revenue forecasts for 2008 from $3.3 billion to $3.5 billion to $3.3 billion to $3.4 billion, primarily due to lower than expected rental revenues in the first half.
In addition, the company has narrowed its full year earnings outlook from $1.15 billion to $1.19 billion EBITDA to $1.15 billion to $1.17 billion. It is maintaining its free cash flow outlook at $400 million to $450 million.
The company has released this information now in light of the fact that its ‘Dutch auction’ offer to buy back up to 27 million shares closes shortly.
It will provide a further update when it releases its second quarter 2008 results on or about July 29, 2008.
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