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Dec 31, 2022
Herc Holdings Q4 2022 Earnings Report
Herc Holdings reported record results driven by robust demand, improved pricing, strategic fleet investments, end market diversity, and greater branch-network efficiencies.
Key Takeaways
Herc Holdings reported record full year 2022 results. Equipment rental revenue increased 31.5% to a record $713.1 million. Total revenues increased 36.0% to a record $786.0 million. Net income increased 36.2% to $97.8 million, or $3.27 per diluted share. Adjusted EBITDA grew 40.8% to a record $361.2 million and adjusted EBITDA margin expanded 160 basis points to 46.0%.
Equipment rental revenue increased 31.5% to a record $713.1 million
Total revenues increased 36.0% to a record $786.0 million
Net income increased 36.2% to $97.8 million, or $3.27 per diluted share
Adjusted EBITDA grew 40.8% to a record $361.2 million and adjusted EBITDA margin expanded 160 basis points to 46.0%
Revenue by Segment
Forward Guidance
The Company is announcing its full year 2023 adjusted EBITDA guidance range and net rental capital expenditures guidance.
Positive Outlook
- Adjusted EBITDA: $1.45 billion to $1.55 billion
- Net rental equipment capital expenditures: $1.0 billion to $1.2 billion
- Expect to continue to gain share
- Capturing an outsized position of the forecasted higher construction spending in 2023
- Capitalizing on strategic acquisitions and greenfield opportunities
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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