Herc Holdings Stock Price, News & Analysis

Herc Holdings (NYSE: HRI) announced that its subsidiary, Herc Holdings Escrow, plans to offer $2.75 billion in senior unsecured notes due 2030 and 2033. This offering is part of the financing for Herc's proposed acquisition of H&E Equipment Services. The acquisition, announced on February 19, 2025, involves a tender offer where H&E shareholders will receive $78.75 in cash and 0.1287 Herc shares per H&E share.

The notes will be guaranteed on a senior unsecured basis by Herc's current and future domestic subsidiaries. The proceeds will be used to finance the acquisition, fund the redemption of H&E's existing debt, and pay related fees. The notes will be offered to qualified institutional buyers in the US under Rule 144A and internationally under Regulation S.

Herc Holdings (NYSE: HRI), a leading North American equipment rental supplier, has achieved significant milestones in its planned acquisition of H&E Equipment Services (NASDAQ: HEES). The company announced two key regulatory clearances: the expiration of the Hart-Scott-Rodino Act waiting period and the SEC's declaration of effectiveness for its Registration Statement on Form S-4. These developments mark crucial steps toward completing the proposed acquisition, which is anticipated to close by early June 2025. The transaction's completion remains subject to H&E shareholders tendering a majority of shares and other customary closing conditions.

Herc Holdings (NYSE: HRI) has announced an extension of its tender offer to acquire H&E Equipment Services (NASDAQ: HEES). The offer, originally set to expire on May 13, 2025, has been extended to May 22, 2025, to allow time for remaining conditions and regulatory approvals. The acquisition terms remain unchanged at $78.75 in cash and 0.1287 Herc shares for each H&E share.

As of May 7, 2025, approximately 32.73% of H&E shares (11,999,305 shares) have been validly tendered, with an additional 0.15% (53,759 shares) tendered through guaranteed delivery procedures. The offer remains subject to completion conditions outlined in the Prospectus/Offer to Exchange dated March 19, 2025.

Herc Holdings has extended its tender offer to acquire H&E Equipment Services. The offer, which was set to expire on April 29, 2025, has been pushed to May 13, 2025, to allow additional time for regulatory approvals and other conditions to be met.

Under the terms of the February 19, 2025 merger agreement, Herc is offering $78.75 in cash and 0.1287 shares of Herc common stock for each H&E share. As of April 29, 2025, approximately 51.76% of H&E shares (18,977,282 shares) have been validly tendered, with an additional 1.25% (457,173 shares) tendered through guaranteed delivery procedures.

The tender offer remains subject to completion conditions outlined in the Prospectus/Offer to Exchange dated March 19, 2025, and related documents filed with the SEC.

Herc Holdings (NYSE: HRI) reported mixed Q1 2025 results with record equipment rental revenue of $739 million, up 3%, and total revenues of $861 million, up 7%. The company posted a net loss of $18 million ($0.63 per share), primarily due to H&E acquisition transaction costs.

Key metrics include flat Adjusted EBITDA at $339 million, with margin at 39.4%, and free cash flow of $49 million. The company's total fleet reached $6.9 billion at OEC, with average fleet age at 47 months. Net debt stood at $4.0 billion with net leverage of 2.5x.

Herc affirmed its 2025 guidance, projecting equipment rental revenue growth of 4-6% and Adjusted EBITDA of $1.575-1.650 billion. The company continues to expand through strategic acquisitions and opened 3 new greenfield locations in Q1. A quarterly dividend of $0.70 per share, representing a 5% increase, was paid to shareholders.

Herc Holdings Inc. (NYSE: HRI), a leading North American equipment rental supplier, has achieved the Great Place To Work® Certification™ for 2025 in both the United States and Canada. This marks the second consecutive year the company has received this recognition in both countries.

The certification, which acknowledges employers creating outstanding employee experiences, was awarded based on direct feedback from current team members through a Great Place To Work survey. CEO Larry Silber emphasized the company's commitment to employee development and well-being, highlighting the significance of earning this distinction in all operating regions.

Herc Holdings (NYSE: HRI) has announced an extension of its tender offer to acquire H&E Equipment Services (NASDAQ: HEES). The offer, which was set to expire on April 15, 2025, has been extended to April 29, 2025. Under the terms of the February 19, 2025 merger agreement, Herc is offering $78.75 in cash and 0.1287 shares of Herc common stock for each H&E share.

The extension aims to allow additional time for satisfying remaining conditions, including regulatory approvals. As of April 15, 2025, approximately 17,906,866 H&E shares (48.84%) have been validly tendered, with an additional 385,504 shares (1.05%) tendered through guaranteed delivery procedures.

Herc Holdings (NYSE: HRI) has scheduled its first quarter 2025 earnings release for April 22, 2025, before market opening. The company will host an investor conference call at 8:30 a.m. ET the same day to discuss the results. Management will review financial performance and may share additional material business information not included in the press release.

The earnings call will be accessible via webcast on the company's investor relations website and through specific dial-in numbers for both U.S. and international participants. A recording of the conference call will remain available on the company website for 12 months.

Herc Holdings (NYSE: HRI) has initiated a tender offer to acquire all outstanding shares of H&E Equipment Services (NASDAQ: HEES). The offer includes $78.75 in cash and 0.1287 shares of Herc common stock for each H&E share.

The tender offer, announced on February 19, 2025, will expire on April 15, 2025, at 11:59 p.m. Eastern Time. The transaction is subject to majority shareholder approval and regulatory clearances. Herc will finance the acquisition through available cash, marketable securities proceeds, and credit facility funds amended on March 11, 2025.

Following the tender offer completion, Herc will acquire remaining shares through a second-step merger at the same price. The transaction is expected to close by mid-2025. Guggenheim Securities serves as lead financial advisor, with Credit Agricole Securities as co-financial advisor.