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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%.
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 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