Loading...
•
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.
Herc Holdings
Herc Holdings
Herc Holdings Revenue by Segment
Revenue by Segment
Equipment Rental Revenue
CapyFin.comSales of Rental Equip. Revenue
CapyFin.comNew Equip., Parts, Supplies Revenue
CapyFin.comService and Other Revenue
CapyFin.com 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