– URI’s traditional EPS is materially distorted by their accounting for operating leases

– After making the appropriate UAFRS adjustments, although EPS’ growth is weaker than as-reported EPS growth, this is because EPS’ is already materially higher

– After a 200%+ share price run in the last year, investors may be wary of URI however, significantly stronger EPS’ supports current valuations, and potentially further upside should the firm drive additional growth


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