H & E Equipment Services Inc - HEES STOCK NEWS

H&E Equipment Services (NASDAQ: HEES) reported strong first quarter results for 2023, with revenues rising 18.4% to $322.5 million compared to $272.5 million in 2022. Net income surged 57.5% to $25.7 million, or $0.71 per diluted share. EBITDA increased 35.4% to $140.1 million, achieving a margin of 43.4%. Equipment rental revenues grew significantly by 31.5% to $262.0 million, with rental rates up 9.5% year-over-year. The company also saw a notable increase in used equipment sales, up 49.2%. However, new equipment sales dropped 70.0%, highlighting a potential area of concern. H&E declared a quarterly cash dividend of $0.275.

H&E Equipment Services (NASDAQ: HEES) is set to release its 2023 first quarter financial results before market open on April 27, 2023. Following the release, the company will hold a conference call at 10:00 a.m. Eastern Time to discuss the results. Participants can join the call by dialing 844-887-9400 approximately 10 minutes prior. A telephonic replay will be available after 1:00 p.m. Eastern Time until May 4, 2023, by calling 877-344-7529 and entering confirmation code 8927475. The live broadcast of the call will be accessible online through the company’s website and will remain available for 30 days. H&E Equipment is recognized as one of the largest rental equipment firms in the U.S., providing a diverse fleet across various high-growth geographies.