Herc Holdings - HRI STOCK NEWS

Herc Holdings Inc. (NYSE: HRI) is hosting its Investor Day today from 4:00 PM to 5:30 PM EDT. Key management, including CEO Larry Silber and CFO Mark Irion, will present and engage with participants. Herc Holdings is a major equipment rental supplier in North America, operating 280 locations with diverse equipment offerings, including aerial and earthmoving machinery. In 2020, the company reported revenues of approximately $1.8 billion. For more information and to register for the event, visit hercrentals.connectid.cloud/register.

Herc Holdings Inc. (NYSE: HRI) has announced the acquisition of Dwight Crane Ltd. and its U.S. affiliate, LRX LLC. This acquisition aims to enhance Herc's entertainment-related rental portfolio, which already includes brands like Herc Entertainment Services and Cinelease. Dwight Crane, based in Ajax, Ontario, has over 40 years of experience in the film and event rental sector, providing equipment like aerial lifts and lighting trucks. The strategic move is expected to strengthen Herc's presence in North America's entertainment market and introduce cutting-edge technologies.

Herc Holdings Inc. (NYSE: HRI) will conduct an Investor Day on September 20, 2021, from 4:00 p.m. to 5:30 p.m. EDT in New York City. Senior management, including CEO Larry Silber and COO Aaron Birnbaum, will discuss operational and financial strategies. The meeting is accessible via a live webcast, with archived versions available for 90 days. Herc Holdings operates through Herc Rentals Inc., boasting 280 locations in North America and generating nearly $1.8 billion in total revenues in 2020.

Herc Holdings Inc. (NYSE: HRI) has successfully acquired CBS Rentals, a Texas-based equipment rental company with 190 employees and 12 locations. This acquisition expands Herc Rentals' presence to 38 locations in Texas, a significant equipment rental market. The deal enhances Herc's capacity to serve construction, industrial, and government clients efficiently. Herc, with 280 locations and over 4,800 employees, aims to leverage this acquisition to strengthen its market position and service offerings.

Herc Holdings Inc. (NYSE: HRI) has signed a purchase agreement to acquire nearly all assets of CBS Rentals, a Texas-based equipment rental company. This acquisition, pending customary approvals, aims to enhance Herc Rentals' footprint in Texas, increasing its locations to 38. Employing around 190 staff, CBS serves construction and industrial markets. The CEO stated that this move is expected to be accretive to earnings in the first year and aligns with Herc's strategy for growth in key urban markets across North America.

Herc Holdings reported strong financial results for Q2 2021, with equipment rental revenue rising 36.8% to $448 million and total revenue increasing 33.4% to $490.9 million. Net income surged to $47.1 million, or $1.55 per diluted share, compared to $2 million in Q2 2020. The company raised its adjusted EBITDA guidance for the year to between $840 million and $870 million, reflecting improved operating efficiencies and market demand. Q1-Q2 2021 generated $141.1 million in free cash flow, with net leverage dropping to 1.9x, below its target range.

Herc Holdings Inc. (NYSE: HRI) will host its second quarter 2021 earnings call on July 22, 2021, at 8:30 a.m. EDT. A press release with financial results will precede the call. Shareholders can participate by dialing in ahead of the start time. Herc Holdings, a leading equipment rental supplier with 282 locations in North America, reported revenues of approximately $1.8 billion in 2020. The company offers a diverse range of equipment for rent and aims to assist customers in working efficiently and safely.

Herc Holdings Inc. (NYSE: HRI) will participate in the Goldman Sachs Industrials & Materials Conference on May 12, 2021. The event will feature a live webcast of a fireside chat with CEO Larry Silber and CFO Mark Irion at 9:40 AM EDT. A recording will be available on the company’s website for 30 days post-event.

Herc Holdings operates approximately 282 locations across North America, offering a wide range of equipment rentals and services. In 2020, the company reported total revenues of approximately $1.8 billion.

Herc Holdings reported strong financial results for Q1 2021, with equipment rental revenue at $400.4 million, a 3.6% increase year-over-year. Total revenues rose 4.0% to $453.8 million. The company achieved net income of $32.9 million, compared to a loss of $3.7 million the previous year. Adjusted EBITDA surged 25.0% to $184.6 million, with a record margin of 40.7%. Cash flow improved to $72.5 million from $39.2 million in 2020. Updated guidance for adjusted EBITDA now ranges from $800 million to $840 million.