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H&E Equipment Services Inc. reports company news centered on material agreements, shareholder voting matters, capital-structure disclosures, governance matters, risk factors, and operating and financial results. Coverage for HEES reflects recurring public-company developments such as corporate agreements, voting and governance updates, financing or capitalization matters, and periodic business performance disclosures.
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H&E Equipment Services (NASDAQ: HEES) reported strong first quarter results for 2023, with revenues rising 18.4% to $322.5 million compared to $272.5 million in 2022. Net income surged 57.5% to $25.7 million, or $0.71 per diluted share. EBITDA increased 35.4% to $140.1 million, achieving a margin of 43.4%. Equipment rental revenues grew significantly by 31.5% to $262.0 million, with rental rates up 9.5% year-over-year. The company also saw a notable increase in used equipment sales, up 49.2%. However, new equipment sales dropped 70.0%, highlighting a potential area of concern. H&E declared a quarterly cash dividend of $0.275.
H&E Equipment Services (NASDAQ: HEES) is set to release its 2023 first quarter financial results before market open on April 27, 2023. Following the release, the company will hold a conference call at 10:00 a.m. Eastern Time to discuss the results. Participants can join the call by dialing 844-887-9400 approximately 10 minutes prior. A telephonic replay will be available after 1:00 p.m. Eastern Time until May 4, 2023, by calling 877-344-7529 and entering confirmation code 8927475. The live broadcast of the call will be accessible online through the company’s website and will remain available for 30 days. H&E Equipment is recognized as one of the largest rental equipment firms in the U.S., providing a diverse fleet across various high-growth geographies.
On March 13, 2023, H&E Equipment Services, Inc. (NASDAQ: HEES) announced the appointment of Suzanne H. Wood to its Board of Directors, expanding the board from ten to eleven members. Wood, aged 63, brings extensive experience from her past roles as CFO of Vulcan Materials and Chief Financial Officer at Ashtead Group. She also serves as a board member and chair of the audit committee for RELX Group and Ferguson plc. Her addition is expected to enhance the Board's expertise in the construction and rental industries, as noted by Executive Chairman John Engquist.
H&E Equipment Services, Inc. (NASDAQ: HEES) announced record financial results for Q4 and full year 2022, highlighting a 25.6% revenue increase to $353.1 million and a net income of $51.2 million, up from $21.7 million in Q4 2021. EBITDA surged 56.1% to $171.5 million, with a margin of 48.6%. Total equipment rental revenues rose 35.3% to $275.7 million. Despite a 4.5% decrease in new equipment sales, gross margin improved to 45.1%. The company anticipates continued growth in 2023, fueled by favorable industry trends and infrastructure spending, and plans to open 10-15 new branch locations. H&E remains focused on strategic expansion and maintaining equipment utilization.
H&E Equipment Services (HEES) will release its 2022 fourth quarter financial results on February 22, 2023, before market opening. Following the results announcement, a conference call will be held at 10:00 a.m. (Eastern Time) to discuss the financial performance. Participants can join the call by dialing 844-887-9400. A telephonic replay will be available after 1:00 p.m. on February 22, continuing through March 1. The live broadcast will be accessible on the company’s website, with related presentation materials to be posted in the Investor Relations section.