H & E Equipment Services Inc Stock Price, News & Analysis

H&E Equipment Services has completed the sale of its crane business to a wholly-owned subsidiary of Manitowoc Company for approximately $130 million. The cash proceeds will fund facility expansions, rental fleet investments, and general corporate purposes. CEO Brad Barber stated that this divestment allows H&E to focus exclusively on its equipment rental strategy, potentially enhancing revenue and margins. Additionally, the sale of two earthmoving distribution branches in Arkansas was finalized, maintaining H&E's operations in Louisiana, bringing their rental operations to 101 branches across 24 states.

The Manitowoc Company has completed the acquisition of the crane business from H&E Equipment Services for approximately $130 million. This strategic move is intended to enhance Manitowoc's aftermarket services and expand its market reach through the establishment of MGX Equipment Services, LLC, which will focus on sales, service, parts, and financing for cranes. The acquisition aligns with Manitowoc's goal of increasing shareholder value and improving customer support.

H&E Equipment Services, Inc. (NASDAQ: HEES) has declared a quarterly cash dividend of $0.275 per share, payable on September 17, 2021, to stockholders of record by August 27, 2021. H&E is a major provider of heavy construction and industrial equipment, operating 107 full-service facilities across various regions in the U.S. The company offers equipment rental, sales, parts, and maintenance services, enhancing customer relationships and operational efficiency.

H&E Equipment Services (NASDAQ: HEES) reported strong Q2 2021 results, with revenues rising 13.4% to $315.8 million and net income of $15.8 million, up from $8.8 million a year earlier. Equipment rental revenues increased 14.9% to $179.0 million, while adjusted EBITDA grew 7.4% to $102.3 million, yielding a margin of 32.4%. Gross margin improved to 35.3%. Notably, the company announced a pending $130 million sale of its crane business, aiming to enhance its rental equipment focus. A quarterly dividend of $0.275 per share was also declared, reflecting confidence in financial stability.

H&E Equipment Services (NASDAQ: HEES) will release its Q2 2021 financial results on August 3, 2021, before market opening. A conference call to discuss these results is scheduled for the same day at 10:00 a.m. ET. Participants can access the call by dialing 877-317-6789. A replay will be available after 1:00 p.m. ET on August 3 until August 10. The live broadcast will also be available online for 30 days. The company operates 105 full-service facilities across the U.S., focusing on heavy construction and industrial equipment.

H&E Equipment Services (NASDAQ: HEES) announced a definitive agreement to sell its crane business to The Manitowoc Company (NYSE: MTW) for $130 million in cash. The transaction, expected to close in Q4 2021, aims to enhance H&E's focus on the equipment rental market, which has shown significant growth, increasing rental revenues from 32% to 51% over the past decade. The sale will strengthen H&E's EBITDA margin and allow investment in fleet expansion and technology. The transaction was unanimously approved by H&E's Board of Directors.

H&E Equipment Services, Inc. (NASDAQ: HEES) announced a quarterly cash dividend of $0.275 per share, payable on June 18, 2021, to stockholders of record by the close of business on June 2, 2021. As one of the largest integrated equipment service companies in the U.S., H&E operates 104 facilities across various regions, focusing on heavy construction and industrial equipment. They provide a comprehensive range of services, including rentals, sales, and parts support, enhancing customer interaction and market reach.

H&E Equipment Services, Inc. (NASDAQ: HEES) reported a 2.6% revenue decline to $278.4 million for Q1 2021, with net income rising to $4.2 million from a net loss of $(37.0) million due to a prior goodwill impairment. Adjusted EBITDA fell 16.2% to $83.2 million, reflecting a margin decrease from 34.7% to 29.9%. Equipment rental revenues decreased by 10.5%, while new and used equipment sales rose significantly, by 22.3% and 33.8%, respectively. The company opened two new branches and maintained a quarterly dividend of $0.275 per share.

H&E Equipment Services, Inc. (NASDAQ: HEES) will release its 2021 first quarter financial results on April 27, 2021, before market opening. A conference call to discuss the results will take place the same day at 10:00 a.m. ET. Interested participants can join by dialing 877-317-6789. A replay will be available later in the day and will continue until May 4, 2021. The live broadcast of the call can be accessed on the company's website, with related presentation materials posted in advance.