Herc Holdings Q2 2022 Earnings Report
Key Takeaways
Herc Holdings reported a strong second quarter with equipment rental revenue increasing by 35.1% to $605.4 million and total revenues increasing by 30.5% to $640.4 million. Net income increased by 53.3% to $72.2 million, or $2.38 per diluted share. The company is also initiating a share repurchase program.
Equipment rental revenue increased 35.1% to a record $605.4 million.
Total revenues increased 30.5% to $640.4 million.
Net income increased 53.3% to $72.2 million, or $2.38 per diluted share.
Adjusted EBITDA grew 36.8% to a record $284.2 million.
Herc Holdings
Herc Holdings
Herc Holdings Revenue by Segment
Forward Guidance
The Company updated its full year 2022 adjusted EBITDA guidance range and maintained net rental capital expenditures guidance. The updated guidance range for the full year 2022 adjusted EBITDA reflects an increase of 34% to 39% compared to full year 2021 results.
Positive Outlook
- Demand for our equipment rental services continues to be strong
- Benefit from tight equipment inventory
- Belief in a secular shift from ownership to rental by our customers
- New infrastructure projects being announced daily
- Well positioned to generate continued growth in 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income