Loading...
•
Mar 31, 2023
Herc Holdings Q1 2023 Earnings Report
Herc Holdings reported record first quarter results, driven by strong equipment rental revenue and strategic acquisitions.
Key Takeaways
Herc Holdings reported a record first quarter with total revenues of $740 million, a 30% increase year-over-year. Net income increased by 16% to $67 million, or $2.28 per diluted share. The company is affirming its full year 2023 adjusted EBITDA guidance range and net rental capital expenditures guidance.
Equipment rental revenue reached a record $654 million, up 24% year-over-year.
Total revenues hit a record $740 million, a 30% increase year-over-year.
Net income increased 16% to $67 million, or $2.28 per diluted share.
Adjusted EBITDA increased 30% to $308 million with an adjusted EBITDA margin of 41.6%.
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 is affirming its full year 2023 adjusted EBITDA guidance range and net rental capital expenditures guidance.
Positive Outlook
- Forecasted higher construction spending in 2023
- Investing in its fleet
- Capitalizing on strategic acquisitions
- Capitalizing on greenfield opportunities
- Cross-selling a diversified product portfolio
Revenue & Expenses
Visualization of income flow from segment revenue to net income