Welcome to our dedicated page for Herc Holdings news (Ticker: HRI), a resource for investors and traders seeking the latest updates and insights on Herc Holdings stock.
Herc Holdings Inc. reports recurring developments tied to its North American equipment rental business, which operates through Herc Rentals Inc. The company is a full-line rental supplier with a classic fleet that includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting equipment.
Company updates commonly cover equipment rental revenue, fleet size, utilization, guidance, integration of acquired rental operations, and participation in large construction and industrial projects. News also includes specialty offerings such as Herc Rentals ProSolutions®, ProContractor professional grade tools, and the ProControl by Herc Rentals™ digital platform, along with investor conference appearances and workplace-related announcements.
Herc Holdings Inc. (NYSE: HRI) will hold its fourth quarter and full year 2020 earnings call on February 18, 2021, at 8:30 a.m. ET. The financial results will be released on the same day, prior to the call. Interested parties can access the call via dial-in numbers or by visiting the Investor Relations section on the company's website. A replay will be available for two weeks following the call. Herc Holdings operates approximately 270 rental locations in North America, providing a full range of equipment for rent with total revenues of approximately $2.0 billion in 2019.
Herc Holdings Inc. (NYSE: HRI) has acquired substantially all assets of Champion Rentals, Inc. based in Houston. This deal increases Herc Rentals' Houston locations to 12, enhancing its service capabilities in a critical market for contractors and government clients. Established in 1982, Champion is known for its premium equipment and customer service. The acquisition aligns with Herc's strategy to grow its presence in key urban areas and is expected to positively impact earnings in the first year. Herc's solid financial standing supports its future growth initiatives.
Herc Holdings reported third-quarter 2020 financial results, revealing equipment rental revenue of $402.3 million and total revenues of $456.7 million, down from $459.6 million and $508.1 million in 2019. Net income surged to $39.9 million, or $1.35 per diluted share, from $9.4 million, while adjusted net income fell to $39.8 million. Adjusted EBITDA decreased by 6.1% to $196.7 million, though margins improved to 43.1%. The company raised its full-year adjusted EBITDA guidance to between $655 million and $675 million, emphasizing strong cash flow and reduced leverage.
Herc Holdings Inc. (NYSE: HRI) will conduct its third quarter 2020 earnings call on October 22, 2020, at 8:30 a.m. ET. A press release detailing financial results will precede the call. Shareholders can participate via dial-in numbers; U.S. participants: +1-877-883-0383, International: +1-412-902-6506 (Access code: 8030644). A replay will be available on the company’s website for two weeks post-call. Herc Holdings, a leading equipment rental provider in North America, reported total revenues of approximately $2.0 billion for 2019.