Herc Holdings Q3 2021 Earnings Report
Key Takeaways
Herc Holdings reported a strong third quarter in 2021, with total revenues increasing by 20.5% to $550.4 million and net income rising to $72.3 million, or $2.37 per diluted share. The company's performance was driven by a 29.2% increase in equipment rental revenue and an improvement in dollar utilization to 46.0%. Herc Holdings affirmed its full-year 2021 guidance for adjusted EBITDA and net capital fleet expenditures.
Equipment rental revenue increased 29.2% to $519.6 million.
Total revenues increased 20.5% to $550.4 million.
Net income increased to $72.3 million, or $2.37 per diluted share.
Adjusted EBITDA expanded 25.0% to $245.9 million.
Herc Holdings
Herc Holdings
Herc Holdings Revenue by Segment
Forward Guidance
The Company affirmed its full year 2021 guidance range for adjusted EBITDA of $870 million to $890 million and net capital fleet expenditures of $500 million to $550 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income