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Dec 31, 2023
Herc Holdings Q4 2023 Earnings Report
Herc Holdings reported strong full year results and announced 2024 full year guidance.
Key Takeaways
Herc Holdings reported a 6% increase in total revenues reaching $831 million in Q4 2023. Net income decreased by 7% to $91 million, or $3.20 per diluted share. The company anticipates continued growth in 2024, with equipment rental revenue expected to increase by 7% to 10%.
Total revenues increased 6% to $831 million.
Net income decreased 7% to $91 million, or $3.20 per diluted share.
Adjusted EBITDA increased 6% to $382 million; adjusted EBITDA margin at 46.0%.
Rental pricing increased 5.8% year-over-year.
Revenue by Segment
Forward Guidance
Herc Holdings anticipates equipment rental revenue growth of 7% to 10% and adjusted EBITDA between $1.55 billion and $1.60 billion for the full year 2024, excluding the Cinelease studio entertainment business.
Positive Outlook
- Expects to continue to gain share by capturing an outsized position of the forecasted higher construction spending in 2024
- Investing in its fleet
- Optimizing its existing fleet
- Capitalizing on strategic acquisitions and 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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