Herc Holdings: Q2 Earnings Insights

Shares of Herc Holdings HRI remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share rose 528.00% year over year to $1.57, which beat the estimate of $1.24.

Revenue of $490,900,000 up by 33.40% year over year, which beat the estimate of $459,790,000.

Guidance

Herc Holdings raised FY21 adjusted EBITDA guidance from $800 million-$840 million to $840 million-$870 million.

Details Of The Call

Date: Jul 22, 2021

Time: 08:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/hri/mediaframe/45305/indexr.html

Price Action

52-week high: $118.59

Company's 52-week low was at $32.40

Price action over last quarter: Up 17.17%

Company Profile

Herc Holdings is an equipment rental company that was spun out of Hertz Global in 2016. It is currently the third- largest equipment rental company in North America, after United Rentals and Sunbelt Rentals, with 3% market share. It serves construction customers, the environmental sector, industrial entities, and entertainment production companies. During much of its 50-plus-year history, the company has rented equipment to its customers for intermittent use. Herc Holdings' strategy now offers to industrial customers long-term rental schemes, where Herc maintains its own staff at the customer site. In 2019, Herc Holdings' fleet included $3.8 billion of equipment at original cost. Annual companywide revenue was approximately $2 billion, including $1.7 billion in equipment rentals.