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.
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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.