H&E Equipment Q4 2019 Earnings Report
Key Takeaways
H&E Equipment Services' Q4 2019 revenues increased by 0.6% to $348.1 million compared to the previous year. Net income decreased by 12.5% to $21.9 million, but excluding a goodwill impairment charge, net income increased by 27.2% to $31.9 million. Adjusted EBITDA increased by 10.7% to $126.8 million.
Revenues increased 0.6% to $348.1 million versus $346.0 million a year ago.
Net income decreased 12.5% to $21.9 million in the fourth quarter compared to net income of $25.1 million a year ago.
Adjusted EBITDA increased 10.7% to $126.8 million in the fourth quarter compared to $114.6 million a year ago.
Total equipment rental revenues for the fourth quarter of 2019 were $193.8 million, an increase of $14.0 million, or 7.8%, compared to $179.8 million a year ago.
H&E Equipment
H&E Equipment
H&E Equipment Revenue by Segment
Forward Guidance
Based on current industry indicators and customer sentiment, the non-residential construction markets are expected to be stable in 2020. Increasing the scale and scope of the rental business through selective acquisitions and organic expansion remains a high priority.
Positive Outlook
- Non-residential construction markets are expected to be stable in 2020.
- Increasing the scale and scope of rental business.
- Selective acquisitions.
- Organic expansion.
- Prioritizing rental business growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income