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Sep 30, 2022
H&E Equipment Q3 2022 Earnings Report
Reported record results for its rental business segment, meaningful fleet growth and further expansion of its branch network.
Key Takeaways
H&E Equipment Services, Inc. announced strong Q3 2022 results with a 17.7% increase in revenues to $324.3 million and a 55.2% increase in net income to $38.4 million, driven by record performance in the equipment rental segment and fleet growth.
Revenues increased 17.7% to $324.3 million compared to Q3 2021.
Net income increased 55.2% to $38.4 million compared to Q3 2021.
Adjusted EBITDA totaled $139.4 million, an increase of 24.1% compared to Q3 2021.
Total equipment rental revenues were $253.6 million, an increase of 28.6% compared to Q3 2021.
Revenue by Segment
Forward Guidance
H&E expects favorable industry fundamentals to prevail through the close of 2022 and into 2023, supported by a backlog of projects, constricting global supply chains, and the anticipation of infrastructure projects and expansion of U.S. manufacturing capabilities and renewable energy projects.
Positive Outlook
- Favorable industry fundamentals expected to continue through 2022 and into 2023.
- Strong customer demand sustained by a backlog of projects in non-residential construction and industrial end markets.
- Global supply chains continue to constrict the availability of rental equipment.
- Solid fleet utilization and favorable pricing trends are expected.
- Benefit from the onset of numerous infrastructure projects as early as 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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