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Mar 31, 2022
H&E Equipment Q1 2022 Earnings Report
Reported strong year-over-year performance driven by excellent industry conditions, seasonally robust utilization, and improved equipment rental rates.
Key Takeaways
H&E Equipment Services reported a 13.3% increase in revenues to $272.5 million and a significant rise in net income to $16.3 million in Q1 2022, compared to $240.4 million and $1.9 million respectively in Q1 2021. Adjusted EBITDA also saw a substantial increase of 34.5%, reaching $103.4 million.
Revenues increased by 13.3% to $272.5 million compared to the first quarter of 2021.
Net income increased to $16.3 million, a significant rise from $1.9 million in the prior year.
Adjusted EBITDA totaled $103.4 million, representing a 38.0% margin of revenues.
Total equipment rental revenues increased by 30.0% to $199.2 million.
H&E Equipment
H&E Equipment
H&E Equipment Revenue by Segment
Revenue by Segment
Equipment Rentals Revenue
CapyFin.comSales of New Equipment Revenue
CapyFin.com Forward Guidance
The full-year outlook for the equipment rental business is excellent, driven by growing non-residential construction and industrial activity.
Positive Outlook
- End-markets are displaying impressive strength.
- Non-residential construction is growing.
- Industrial activity is increasing.
- Capital expenditure of $550 million to $600 million is appropriately timed.
- Capital expenditure positions the Company to address the expected growth across regions of operation.
Challenges Ahead
- No specific negatives were mentioned in the provided context.
Revenue & Expenses
Visualization of income flow from segment revenue to net income