EquipmentShare.com Shares Gain on Higher Outlook

Dow Jones10-19

Shares of EquipmentShare.com climbed after the construction-equipment rental company raised its full-year outlook, in part citing strong customer demand.

The stock rose 6.1%, to $14.41, on Monday. Still, shares have lost more than half of their value year to date.

EquipmentShare.com now expects total revenue to come in between $5.81 billion and $6.05 billion for the year, up from a prior forecast of $5.25 billion to $5.68 billion. Analysts polled by FactSet were looking for $5.58 billion.

"We are raising our full-year outlook, reflecting strong customer demand and high utilization of the fleet across our network," Chief Executive Jabbok Schlacks said. "Our rental locations continue to mature, contributing to our growth against a strong construction backdrop."

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