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 (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.
H&E Equipment Services, Inc. (NASDAQ: HEES) has priced its private placement of $1.25 billion in 3.875% senior notes due 2028, at 100% of principal. The offering is set to close on December 14, 2020, contingent on customary conditions. Proceeds will finance the purchase of existing 5.625% senior notes due 2025, cover associated fees, and support general corporate purposes. The notes are being offered to qualified institutional buyers under Rule 144A and have not been registered under the Securities Act. The press release also contains forward-looking statements regarding potential risks and uncertainties.
H&E Equipment Services announces a cash tender offer for its $950 million 5.625% Senior Notes due 2025. The offer is linked to a proposed $1.25 billion senior notes offering, with proceeds expected to fund the tender. The tender offer expires at 5:00 PM ET on December 11, 2020, with a payment date set for December 14, 2020. Holders will receive $1,043.75 per $1,000 of notes tendered plus accrued interest. The company will also redeem any untendered notes at a premium of 104.2188% if the proposed offering is completed.
H&E Equipment Services (NASDAQ: HEES) announced a private placement offering of $1.25 billion in senior notes due 2028. The offering aims to fund the purchase of existing senior notes due 2025 and cover associated fees and expenses. The notes will be senior unsecured obligations guaranteed by current and future material domestic subsidiaries. The issuance is restricted to qualified institutional buyers, as per Regulation S and Rule 144A under the Securities Act. This offering does not constitute a solicitation or offer to sell in jurisdictions where it would be illegal.
H&E Equipment Services (NASDAQ: HEES) has declared a quarterly cash dividend of $0.275 per share, scheduled for payment on December 11, 2020. The record date for shareholders is November 25, 2020. H&E operates as one of the largest integrated equipment service companies in the U.S., offering a comprehensive range of services including rental, sales, and support for heavy equipment across various regions. This dividend distribution reflects the company's commitment to returning value to its shareholders amidst ongoing economic uncertainties.
H&E Equipment Services (NASDAQ: HEES) reported an 18.1% revenue decline in Q3 2020, totaling $289.3 million versus $353.0 million in Q3 2019. Net income fell to $10.1 million from $28.4 million year-over-year. Adjusted EBITDA decreased by 22.5% to $98.8 million, with a margin of 34.1% compared to 36.1% last year. Equipment rental revenues decreased by 18.8% to $165.8 million, while new equipment sales plummeted 42.7% to $37.2 million. However, used equipment sales rose 28.3% to $40.0 million, indicating some resilience in secondary markets.