Herc Holdings Q3 2023 Earnings Report
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.
Herc Holdings
Herc Holdings
Herc Holdings 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