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Herc Rental Revenue Up 37% in Q2

Herc Rental Revenue Up 37% in Q2
constructionequipment.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from constructionequipment.com Daily Mail and Mail on Sunday newspapers.

(HRI) - Herc Holdings Q2 Result Tops Consensus; Raises FY21 Guidance

(HRI) - Herc Holdings Q2 Result Tops Consensus; Raises FY21 Guidance
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Herc Holdings’ 1Q Results Top Estimates As Rental Revenue Picks Up

Priti Ramgarhia- April 23, 2021, 10:07 AM EDT SHARE ON: Herc Holdings’s 1Q results beat analysts’ expectations. Record adjusted EBITDA margins of 40.7% and strong revenues from the ProSolutions and entertainment rental businesses fueled this outperformance. Herc Holdings’s ( HRI) 1Q adjusted earnings of $1.10 per share came in well ahead of analysts’ expectations of $0.25 per share. Total revenues climbed 4% to $453.8 million and surpassed the consensus estimate of $417.23 million. The company’s Equipment rental revenue was $400.4 million, up 3.6% year-over-year, while pricing decreased 0.3% compared to the year-ago period. Additionally, adjusted EBITDA jumped 25% to $184.6 million. Net rental equipment capital expenditures came in at $50.6 million. (See Herc Holdings stock analysis on TipRanks)

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