United Rentals posts upbeat results on robust demand for rental equipment

April 23 (Reuters) - Equipment rental firm United Rentals URI.N beat analysts' expectations for first-quarter profit and revenue on Wednesday, helped by robust demand across its construction and industrial end-markets.

The company, which rents out equipment to the manufacturing and construction sectors across North America, stands to benefit as production delays at machinery makers due to supply chain issues boosts demand for rentals.

Rentals revenues at the company grew by 7.4% to $3.14 billion in the reported quarter from a year ago, while sales of used equipment fell by 1.6%.

"Our new $1.5 billion share repurchase authorization, and balance sheet strength, allows us to continue driving profitable growth," CEO Matthew Flannery said.

In February, United Rentals dropped its plans to acquire peer H&E Equipment Services HEES.O after the latter received a "superior" bid from rival Herc Holdings HRI.N.

The company said it received a break-up fee of $64 million after the H&E deal fell through.

United Rentals posted an adjusted profit of $8.86 per share for the quarter ended March 31, compared with analysts' average estimate of $8.83 per share, according to data compiled by LSEG.

The company reported total revenue of $3.72 billion, while analysts had expected $3.60 billion.

The company also re-affirmed its full-year forecast of total revenue between $15.6 billion to $16.1 billion, the mid-point of which is above analysts' estimates of $15.79 billion.

Shares of the Stamford, Connecticut-based company edged up over 1% in after-market trading.