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Dec 31, 2021
Herc Holdings Q4 2021 Earnings Report
Herc Holdings reported strong Q4 2021 results, contributing to a record full year.
Key Takeaways
Herc Holdings reported a strong fourth quarter with equipment rental revenue increasing 26.9% to a record $542.4 million and total revenues increasing 11.1% to $578.0 million. Net income increased to $71.8 million, or $2.36 per diluted share. Adjusted EBITDA grew 31.1% to a record $256.5 million with adjusted EBITDA margin expanding 680 basis points to 44.4%.
Equipment rental revenue increased 26.9% to a record $542.4 million.
Total revenues increased 11.1% to $578.0 million.
Net income increased to $71.8 million or $2.36 per diluted share.
Adjusted EBITDA grew 31.1% to a record $256.5 million and adjusted EBITDA margin expanded 680 basis points to 44.4%.
Revenue by Segment
Forward Guidance
The Company increased its full year 2022 adjusted EBITDA guidance range and maintained net rental capital expenditures guidance. Adjusted EBITDA is expected to be in the range of $1,075 million to $1,175 million and net rental equipment capital expenditures are expected to be in the range of $820 million to $1,120 million.
Positive Outlook
- Organic CAGR growth of 12% to 15% in rental revenue from 2021 to 2024
- Adjusted EBITDA CAGR growth of 17% to 20% from 2021 to 2024
- Strong momentum and investment in new locations and rental equipment
- Focus on balancing investment growth options between organic and acquisition growth
- Shareholder base should benefit from the strong growth in results
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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