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Dec 31, 2021
H&E Equipment Q4 2021 Earnings Report
Reported excellent quarter and year-over-year performance as strong business activity and strategic initiatives advanced results.
Key Takeaways
H&E Equipment Services, Inc. reported a 5.1% increase in revenue to $281.3 million for the fourth quarter of 2021, compared to $267.7 million in the fourth quarter of 2020. Net income was $21.7 million in the fourth quarter of 2021 compared to a net loss of $21.3 million in the fourth quarter of 2020.
Revenues increased 5.1% in the fourth quarter of 2021 to $281.3 million compared to $267.7 million in the fourth quarter of 2020.
Net income was $21.7 million in the fourth quarter of 2021 compared to a net loss of $21.3 million in the fourth quarter of 2020.
Adjusted EBITDA increased 18.4% in the fourth quarter of 2021 to $110.4 million compared to $93.3 million in the fourth quarter of 2020.
Total equipment rental revenues for the fourth quarter of 2021 were $203.7 million, an increase of $40.8 million, or 25.1%, compared to $162.9 million in the fourth quarter of 2020.
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
Favorable industry trends remain in place, providing abundant opportunities for growth in 2022. Following 2021 gross capital expenditures of $437 million, gross expenditures in 2022 are expected to range from $550 million to $600 million, representing the largest annual gross spend in the Company’s history.
Positive Outlook
- Strong customer demand for our rental fleet persisted well into the final quarter of 2021, resulting in higher average physical utilization and rental rate appreciation.
- Feedback from our customers suggests elevated equipment rental demand is likely to persist through 2022 with broadening activity in the non-residential construction and industrial end markets.
- Strong performance in 2021 of key industry measures of future construction activity support the likelihood for further expansion in 2022 of these important end markets.
- The recently passed Bipartisan Infrastructure Bill is expected to supplement demand for our fleet as our customers outline growing needs in 2022 ahead of government appropriation.
- The planned growth of our equipment rental fleet in 2022 underscores our confidence in a fundamentally robust cycle.
Challenges Ahead
- There are not any negatives in the provided document.
Revenue & Expenses
Visualization of income flow from segment revenue to net income