Herc Holdings Q4 2022 Earnings Report
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%
Herc Holdings
Herc Holdings
Herc Holdings 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