United Rentals narrows 2008 outlook

United Rentals Inc., which rents equipment ranging from hand tools to heaters, on Thursday narrowed its outlook for 2008 to the lower end of its previous guidance.

The company said it now expects to earn between $2.65 and $2.75 per share. Previously, the company expected to earn between $2.65 and $2.85 per share for the year.

Analysts polled by Thomson Financial expect profit of $2.69 per share.

The company said the new guidance excludes the impact of charges of $14 million, or $2.50 per share, related to an ongoing Securities and Exchange Commission inquiry, share repurchases and the establishment of a valuation allowance for foreign tax credits.

Those charges will be recorded in the company's second quarter.

The company also lowered its revenue guidance to between $3.3 billion and $3.4 billion. The previous guidance was for revenue between $3.3 billion and $3.5 billion.

Analysts anticipate revenue of $3.49 billion.

United Rentals shares fell 45 cents to close at $19.59.