Welcome to our dedicated page for H & E Equipment Services news (Ticker: HEES), a resource for investors and traders seeking the latest updates and insights on H & E Equipment Services stock.
H&E Equipment Services, Inc. (NASDAQ: HEES), doing business as H&E Rentals, generates frequent news as a U.S. equipment rental company in the Other Commercial and Industrial Machinery and Equipment Rental and Leasing industry. Founded in 1961 and based in Baton Rouge, Louisiana, H&E describes itself as one of the largest rental equipment companies in the nation, with a fleet that includes aerial work platforms, earthmoving equipment, material handling equipment and other general and specialty lines.
News coverage for HEES commonly features quarterly and annual financial results, where the company reports on total revenues, equipment rental revenues, rental revenues, sales of rental equipment, sales of new equipment, gross margins, time utilization, dollar utilization and average rental rates. These releases provide insight into how H&E’s rental fleet is performing across its branch network in the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest and Mid‑Atlantic regions.
Another major source of HEES news is the pending acquisition by Herc Holdings Inc. Herc, through a merger subsidiary, launched a tender offer to acquire all outstanding shares of H&E common stock, followed by several extensions and regulatory milestones. Joint announcements from Herc and H&E describe the progress of the tender offer, the expiration of the Hart‑Scott‑Rodino waiting period, the acceptance of tendered shares and the expectation that H&E will become a wholly‑owned subsidiary of Herc, with H&E shares ceasing to trade on Nasdaq.
On this page, readers can follow company earnings updates, transaction‑related announcements, and other corporate communications that H&E files or distributes through newswires. Investors and observers who track HEES can use this news stream to review how the business performs over time and how the merger process with Herc develops.
H&E Equipment Services, Inc. (NASDAQ: HEES) has declared a quarterly cash dividend of $0.275 per share, payable on March 10, 2023. Stockholders of record as of February 24, 2023 will receive this dividend, following the announcement made on February 10, 2023. H&E, one of the largest rental equipment companies in the U.S., boasts a versatile fleet serving various high-growth markets across multiple regions including the Pacific Northwest and Southeast.
H&E Equipment Services Inc. (NASDAQ: HEES) announced a definitive agreement to sell its Komatsu earthmoving distribution business to Waukesha-Pearce Industries, LLC in a strategic move to focus on its higher-margin rental business. This transaction includes distribution rights in Louisiana and parts of Arkansas, as well as a distribution facility in Kenner, Louisiana. The sale is expected to close by December 31, 2022, marking the completion of H&E's shift to a pure-play rental business.
H&E Equipment Services (NASDAQ: HEES) has declared a quarterly cash dividend of $0.275 per share. This dividend will be distributed on December 9, 2022, to stockholders on record as of November 28, 2022. Founded in 1961, H&E is recognized as one of the largest rental equipment companies in the U.S. with a diverse fleet catering to various high-growth markets across the nation.
H&E Equipment Services (NASDAQ: HEES) reported robust financial performance for Q3 2022, with total revenues rising by 17.7% to $324.3 million, driven largely by a 28.6% increase in equipment rental revenues. Net income soared 55.2% to $38.4 million. Adjusted EBITDA reached $139.4 million, reflecting a margin of 43%. The company achieved record fleet utilization at 73.3% and improved gross margins across segments. Despite a 34.7% drop in used equipment sales, new equipment sales saw a 21.4% increase. H&E continues expanding its branch network and anticipates favorable industry conditions ahead.
BATON ROUGE, La., Oct. 20, 2022 (GLOBE NEWSWIRE) -- H&E Equipment Services, Inc. (NASDAQ: HEES) will release its 2022 third quarter financial results on October 27, 2022, before market open. A conference call to discuss these results is scheduled for the same day at 10:00 a.m. (Eastern Time). Participants can join by dialing 844-887-9400. A replay will be available post-call and can be accessed until November 3, 2022. The call will be broadcast live on the company's website and available for 30 days.
H&E Equipment Services Inc. (HEES) has completed its acquisition of One Source Equipment Rentals Inc., effective October 1, 2022. This move adds 10 new rental locations, including sites in Illinois, Indiana, and Kentucky, enhancing H&E's presence and operations in the southern U.S. The acquisition also incorporates approximately $138 million in fleet value, aligning with H&E's strategic growth plan. CEO Brad Barber emphasizes the importance of this expansion, which complements their successful warm start strategy and aims to increase participation in non-residential construction and industrial markets.
H&E Equipment Services, Inc. (NASDAQ: HEES) has signed a definitive agreement to acquire One Source Equipment Rental, Inc. for $130 million in cash. One Source operates 10 branches primarily in the Midwest and Southern U.S., generating approximately $59 million in revenues in the last year. The acquisition is set to expand H&E's geographic footprint and enhance customer loyalty, aligning well with its existing operations. The transaction is expected to close in Q4 2022, subject to regulatory approval.
H&E Equipment Services (NASDAQ: HEES) announced a quarterly cash dividend of $0.275 per share on August 11, 2022, payable on September 9, 2022. The record date for shareholders is August 26, 2022. Established in 1961, H&E is a prominent rental equipment company in the U.S., serving diverse markets across several high-growth regions.
H&E Equipment Services, Inc. (NASDAQ: HEES) reported strong second quarter 2022 results with revenues increasing 10.9% to $294.7 million and net income rising to $27.9 million, up from $12.3 million in Q2 2021. The company achieved record rental revenue of $227.6 million, a 29.6% increase year-over-year. Adjusted EBITDA also reached a record $121.9 million, representing a margin of 41.4%. Despite a significant decrease in used equipment sales by 47.4%, rental margins improved. The company declared a quarterly cash dividend of $0.275 per share and plans to expand branches despite supply chain challenges.
H&E Equipment Services (NASDAQ: HEES) is set to release its 2022 second quarter financial results on July 28, 2022, ahead of market opening. A conference call will follow at 10:00 a.m. ET to discuss the results, with participants encouraged to dial in early. A telephonic replay of the call will be available post-event until August 4, 2022. The call will also be live-streamed on the company's website, where presentation materials will be accessible for 30 days.