Herc Holdings Q1 2021 Earnings Report
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
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