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

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.

H&E Equipment Services (NASDAQ: HEES) reported a net loss of $(14.6) million for Q4 2020, down from net income of $21.9 million in Q4 2019. Revenue declined 9.3% to $315.6 million, with total equipment rental revenues dropping 13.9%. Adjusted EBITDA fell 19.8% year-over-year to $101.6 million. The company successfully completed an offering of $1.25 billion in new senior notes, used primarily to repurchase older notes. Despite challenges, management expressed optimism regarding demand trends and ongoing business improvement as they look towards growth initiatives in 2021.

H&E Equipment Services (NASDAQ: HEES) has declared a quarterly cash dividend of $0.275 per share for its stockholders. The payment is scheduled for March 12, 2021, with a record date of February 26, 2021. As one of the largest integrated equipment services companies in the U.S., H&E provides rental, sales, and service support for heavy construction and industrial equipment through its extensive network of 97 facilities. This dividend reflects confidence in the company’s continued performance amidst potential market uncertainties.

H&E Equipment Services, Inc. (NASDAQ: HEES) announced it will release its 2020 fourth quarter financial results on February 17, 2021, before market opening. A conference call is scheduled for the same day at 10:00 a.m. (Eastern Time) to discuss the results. Participants can join by dialing 877-270-2148. A telephonic replay will be available after 1:00 p.m. on February 17 until February 24, 2021. The live broadcast will be accessible online and related presentation materials will be posted prior to the call on the Company’s website.

H&E Equipment Services, Inc. (NASDAQ: HEES) announced the appointment of John McDowell Engquist as President and COO, effective January 1, 2021. Mr. Engquist will succeed Bradley W. Barber, who will remain the CEO and a Director. Barber praised Engquist's operational expertise and leadership as vital for maximizing performance and pursuing growth opportunities through branch expansions and acquisitions. H&E is a leading equipment services provider in the U.S., offering a comprehensive approach to equipment rentals, sales, and services across various sectors.

H&E Equipment Services (NASDAQ: HEES) has successfully closed a private placement offering of $1.25 billion in 3.875% senior notes due 2028. The net proceeds, approximately $1.24 billion, will fund the purchase of existing 5.625% senior notes due 2025, with around 58.3% already tendered. Remaining Old Notes will be redeemed at a price of 104.2188% of their principal on December 30, 2020. The offering does not constitute an offer to purchase the Old Notes. Forward-looking statements warn of risks affecting future performance.