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

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.

H&E Equipment Services (NASDAQ: HEES) is set to release its third quarter financial results on October 28, 2020, before the market opens. A conference call to discuss the results will also take place on the same day at 10:00 a.m. ET. Participants can join the call by dialing 877-270-2148. A replay will be available from 1:00 p.m. ET on October 28 until November 4, 2020. The call will be broadcast live online, and related presentation materials will be accessible on the company’s website.

H&E Equipment Services, Inc. (NASDAQ: HEES) will release its 2020 second quarter financial results on August 4, 2020, before market open. The company will hold a conference call to discuss these results at 10:00 a.m. (Eastern Time) the same day. Interested participants can join by calling 877-270-2148. A telephonic replay will be available post-call, and a live broadcast will be accessible online at www.he-equipment.com. H&E is a leading equipment services company in the U.S., specializing in heavy construction and industrial equipment.