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Jun 30, 2023
Herc Holdings Q2 2023 Earnings Report
Herc Holdings reported strong second-quarter results, marked by record equipment rental revenue and total revenue.
Key Takeaways
Herc Holdings reported a strong second quarter with a 25% increase in total revenues to $802 million and a 12% increase in net income to $76 million. Equipment rental revenue increased by 16% to $702 million, driven by higher pricing and volume. The company reaffirmed its full-year 2023 adjusted EBITDA guidance.
Equipment rental revenue reached a record $702 million, up 16%.
Total revenues also hit a record $802 million, a 25% increase.
Net income rose to $76 million, or $2.66 per diluted share, a 12% increase.
Adjusted EBITDA increased 24% to $352 million, with a margin of 43.9%.
Revenue by Segment
Forward Guidance
The Company is reaffirming its full year 2023 adjusted EBITDA guidance range and net rental capital expenditures guidance.
Positive Outlook
- Expects to continue to gain share.
- Capturing an outsized position of the forecasted higher construction spending in 2023.
- Investing in its fleet.
- Capitalizing on strategic acquisitions and greenfield opportunities.
- Cross-selling a diversified product portfolio.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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