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. (NYSE: HRI) is an equipment rental company that regularly issues news on its operations, financing activities, governance and sustainability efforts. Operating through its Herc Rentals Inc. subsidiary as a full-line rental supplier, the company’s updates provide insight into trends in its rental fleet, branch network and capital allocation decisions across North America.
Investors following HRI news will see recurring announcements on quarterly results, including equipment rental revenue, total revenues, adjusted EBITDA and fleet utilization metrics. Earnings releases often discuss integration progress from acquisitions such as H&E Equipment Services Inc., IT and systems integration milestones, fleet optimization, greenfield branch openings and divestitures like the sale of the Cinelease studio entertainment business.
Herc Holdings also publishes news related to its balance sheet and capital structure. Recent press releases and 8‑K filings describe the pricing and issuance of senior unsecured notes due 2031 and 2034, the planned and completed redemption of 5.50% Senior Notes due 2027, amendments to its credit agreement and changes to a receivables financing agreement. These items are relevant for tracking the company’s debt profile and interest obligations.
Corporate governance and leadership developments appear frequently in HRI news, including promotions within the executive team and the election of new independent directors to the board and audit committee. In addition, the company issues communications about participation in investor conferences and scheduled earnings webcasts, which can be important events for market commentary.
Herc Holdings also releases a Corporate Citizenship Report highlighting environmental, social and governance initiatives, safety performance, employee engagement and recognition on external sustainability and workplace rankings. For anyone monitoring HRI, this news feed offers a centralized view of financial performance, strategic moves, financing transactions and ESG disclosures over time.
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Herc Holdings Inc. (NYSE: HRI) reported a strong first quarter for 2023, achieving a record equipment rental revenue of $654 million, a 24% increase, and total revenues of $740 million, up 30% year-over-year. Net income rose 16% to $67 million, or $2.28 per diluted share. The adjusted EBITDA increased by 30% to $308 million, with a margin of 41.6%. Rental pricing also saw a year-over-year increase of 7%. The company repurchased approximately 460,000 shares. Despite challenges like supply chain disruptions and a decline in studio entertainment revenue, Herc Holdings maintains a diversified business model and strategic investments to capture growth opportunities. Guidance for full-year adjusted EBITDA remains positive, anticipating a growth of 18% to 26% compared to 2022.
Herc Holdings Inc. (NYSE: HRI) will release its first quarter 2023 financial results on April 20, 2023, before the market opens. An investor conference call will follow at 8:30 a.m. ET, where management will discuss the results and potentially reveal significant business and financial information not included in the press release.
Investors can access the live webcast through HercRentals.com and the call is available via dial-in for U.S. participants at +1-888-660-6011. The replay of the conference call will be archived for 12 months. Herc Holdings has approximately $2.7 billion in total revenues for 2022 and operates 356 locations in North America.
TNT Crane & Rigging has appointed Mark Irion as its new CEO, effective immediately, succeeding Mike Appling, who will assist with the transition until April 30, 2023. Irion, who has extensive experience in the equipment rental industry, previously served as CFO at Herc Holdings since June 2018. He has been a director on TNT's Board since June 2020. The Board expressed confidence in Irion's vision for growth and his deep understanding of the company. TNT, headquartered in Houston, TX, is the largest open-shop crane services platform in North America, operating over 40 branches and serving more than 4,000 customers.
Herc Holdings Inc. (NYSE: HRI) announced that CEO Larry Silber and CFO Mark Humphrey will participate in a fireside chat at the Bank of America Securities Global Industrials Conference on March 22, 2023, at 10:50 AM ET. This session will focus on the company’s strategic initiatives and will include private meetings. Investors can access the live chat through the provided link and via the company's investor relations page. Herc Holdings operates over 356 locations in North America, generating approximately $2.7 billion in total revenues for 2022, offering a wide range of equipment rentals and specialized services.