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Mar 31, 2021
Herc Holdings Q1 2021 Earnings Report
Herc Holdings' first quarter total revenues increased, adjusted EBITDA expanded, and free cash flow increased.
Key Takeaways
Herc Holdings reported a strong start to the year with a 4% increase in total revenues and a 25% increase in adjusted EBITDA compared to the previous year. The company's adjusted EBITDA margin hit a record for the first quarter, reflecting the strength of their operating model. The company also raised its full year adjusted EBITDA guidance.
Equipment rental revenue increased by 3.6% to $400.4 million.
Total revenues increased by 4.0% to $453.8 million.
Net income increased to $32.9 million, or $1.09 per diluted share.
Adjusted EBITDA expanded 25.0% to $184.6 million.
Herc Holdings
Herc Holdings
Herc Holdings Revenue by Segment
Revenue by Segment
Equipment Rental Revenue
CapyFin.comSales of Rental Equip. Revenue
CapyFin.comNew Equip., Parts, Supplies Revenue
CapyFin.comService and Other Revenue
CapyFin.com Forward Guidance
The Company updated 2021 guidance ranges for Adjusted EBITDA to $800 million to $840 million and maintained $400 million to $450 million for net rental equipment capital expenditures.
Positive Outlook
- Strong first quarter performance
- Positive momentum in end markets
- Increasing demand for rental equipment
- Intention to continue taking market share in specialty businesses
- Maximizing operating leverage as revenue growth accelerates
Revenue & Expenses
Visualization of income flow from segment revenue to net income