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Sep 30, 2023
Herc Holdings Q3 2023 Earnings Report
Herc Holdings reported strong financial results, driven by revenue growth and strategic initiatives.
Key Takeaways
Herc Holdings reported a 22% increase in total revenues to $908 million, with net income rising to $113 million, or $3.96 per diluted share. The company's performance was supported by positive pricing and increased volume in equipment rentals, along with strategic acquisitions and a focus on cost discipline.
Total revenues reached a record $908 million, a 22% increase year-over-year.
Net income increased by 18% to $113 million, or $3.96 per diluted share.
Adjusted EBITDA grew by 19% to $410 million, with an adjusted EBITDA margin of 45.2%.
Rental pricing increased by 6.9% year-over-year.
Revenue by Segment
Forward Guidance
The Company is narrowing its full year 2023 adjusted EBITDA guidance range and net rental capital expenditures guidance.
Positive Outlook
- Expects to continue to gain share by capturing an outsized position of the 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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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