Equipment rental company United Rentals (NYSE:URI) will be reporting earnings this Wednesday after market hours. Here’s what to expect.

United Rentals beat analysts’ revenue expectations last quarter, reporting revenues of $4.41 billion, up 11.8% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ EBITDA estimates and full-year EBITDA guidance exceeding analysts’ expectations.

Is United Rentals a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting United Rentals’s revenue to grow 10.8% year on year, improving from the 5.9% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. United Rentals has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at United Rentals’s peers in the industrial distributors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 18.9%, beating analysts’ expectations by 10.1%, and Fastenal reported revenues up 15.5%, topping estimates by 1%. Richardson Electronics’s stock price was unchanged after the resultswhile Fastenal was down 2%.

Read our full analysis of Richardson Electronics’s results here and Fastenal’s results here.

In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the industrial distributors stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5.9% on average over the last month. United Rentals’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $1,261 (compared to the current share price of $1,024).

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