July 23 (Reuters) - Equipment rental company United Rentals URI.N raised its annual revenue forecast on Wednesday but reported second-quarter profit below Wall Street estimates.
The Stamford, Connecticut-based company benefited from construction end markets - infrastructure and non-residential, driven by robust spending on national megaprojects.
However, an inflationary environment and rising costs further pressured company's margins, affecting profitability during the quarter.
United Rentals now expects full-year revenue between $15.8 billion and $16.1 billion, up from its previous projection of $15.6 billion to $16.1 billion.
The company said that it has raised its planned share repurchases for 2025 by $400 million, bringing the total to $1.9 billion.
United Rentals reported an adjusted profit of $10.47 per share for the quarter ended June 30, missing analysts' average estimate of $10.54 per share, according to data compiled by LSEG.
Total revenue for the quarter was $3.94 billion, compared to analysts' expectations of $3.9 billion.
(Reporting by Aatreyee Dasgupta and Anshuman Tripathy in Bengaluru; Editing by Mohammed Safi Shamsi)
((Aatreyee.Dasgupta@thomsonreuters.com;))
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