Welcome to our dedicated page for H&E Equipment Services news (Ticker: HEES), a resource for investors and traders seeking the latest updates and insights on H&E Equipment Services stock.
H&E Equipment Services, Inc. (symbol: HEES) is a well-established and integrated equipment dealership in the United States. Founded in 1961, the company has grown to become one of the largest equipment rental companies in the nation, currently ranking 8th on RER's list of top 100 equipment rental companies. H&E Equipment Services offers a comprehensive range of services including equipment rentals, sales of new and used equipment, parts, service, training, and crane remanufacturing.
The company is the largest dealer of Grove and Manitowoc cranes in the world and one of the largest Komatsu earthmoving dealerships in the United States. H&E's diverse portfolio includes high-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. The company's operations are divided into five principal business activities: equipment rentals, new equipment sales, sales of rental equipment, parts sales, and services.
H&E Equipment Services prides itself on its extensive network of stores located in key regions across the United States, including the Gulf Coast, Southeast, Mid-Atlantic, West Coast, Intermountain, and Southwest. This widespread presence ensures that H&E can provide prompt and efficient service to its diverse customer base. The corporate headquarters is situated in Baton Rouge, Louisiana.
In recent years, H&E Equipment Services has continued to expand its fleet, which is known for being among the youngest and most versatile in the industry. The company's superior equipment mix includes aerial work platforms, earthmoving equipment, material handling equipment, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies, positioning itself as a vital player in the construction and industrial sectors.
Financially, H&E Equipment Services derives the majority of its revenue from the equipment rentals segment. The company's strategic focus on providing high-quality equipment and comprehensive service solutions has enabled it to maintain strong financial health and a competitive edge in the market.
For the latest updates and relevant information about H&E Equipment Services, Inc., including performance, events, and developments, you can stay informed through their news section.
H&E Equipment Services, Inc. (NASDAQ: HEES) announced record financial results for Q4 and full year 2022, highlighting a 25.6% revenue increase to $353.1 million and a net income of $51.2 million, up from $21.7 million in Q4 2021. EBITDA surged 56.1% to $171.5 million, with a margin of 48.6%. Total equipment rental revenues rose 35.3% to $275.7 million. Despite a 4.5% decrease in new equipment sales, gross margin improved to 45.1%. The company anticipates continued growth in 2023, fueled by favorable industry trends and infrastructure spending, and plans to open 10-15 new branch locations. H&E remains focused on strategic expansion and maintaining equipment utilization.
H&E Equipment Services (HEES) will release its 2022 fourth quarter financial results on February 22, 2023, before market opening. Following the results announcement, a conference call will be held at 10:00 a.m. (Eastern Time) to discuss the financial performance. Participants can join the call by dialing 844-887-9400. A telephonic replay will be available after 1:00 p.m. on February 22, continuing through March 1. The live broadcast will be accessible on the company’s website, with related presentation materials to be posted in the Investor Relations section.
H&E Equipment Services, Inc. (NASDAQ: HEES) has declared a quarterly cash dividend of $0.275 per share, payable on March 10, 2023. Stockholders of record as of February 24, 2023 will receive this dividend, following the announcement made on February 10, 2023. H&E, one of the largest rental equipment companies in the U.S., boasts a versatile fleet serving various high-growth markets across multiple regions including the Pacific Northwest and Southeast.
H&E Equipment Services Inc. (NASDAQ: HEES) announced a definitive agreement to sell its Komatsu earthmoving distribution business to Waukesha-Pearce Industries, LLC in a strategic move to focus on its higher-margin rental business. This transaction includes distribution rights in Louisiana and parts of Arkansas, as well as a distribution facility in Kenner, Louisiana. The sale is expected to close by December 31, 2022, marking the completion of H&E's shift to a pure-play rental business.
H&E Equipment Services (NASDAQ: HEES) has declared a quarterly cash dividend of
H&E Equipment Services (NASDAQ: HEES) reported robust financial performance for Q3 2022, with total revenues rising by 17.7% to $324.3 million, driven largely by a 28.6% increase in equipment rental revenues. Net income soared 55.2% to $38.4 million. Adjusted EBITDA reached $139.4 million, reflecting a margin of 43%. The company achieved record fleet utilization at 73.3% and improved gross margins across segments. Despite a 34.7% drop in used equipment sales, new equipment sales saw a 21.4% increase. H&E continues expanding its branch network and anticipates favorable industry conditions ahead.
BATON ROUGE, La., Oct. 20, 2022 (GLOBE NEWSWIRE) -- H&E Equipment Services, Inc. (NASDAQ: HEES) will release its 2022 third quarter financial results on October 27, 2022, before market open. A conference call to discuss these results is scheduled for the same day at 10:00 a.m. (Eastern Time). Participants can join by dialing 844-887-9400. A replay will be available post-call and can be accessed until November 3, 2022. The call will be broadcast live on the company's website and available for 30 days.
H&E Equipment Services Inc. (HEES) has completed its acquisition of One Source Equipment Rentals Inc., effective October 1, 2022. This move adds 10 new rental locations, including sites in Illinois, Indiana, and Kentucky, enhancing H&E's presence and operations in the southern U.S. The acquisition also incorporates approximately $138 million in fleet value, aligning with H&E's strategic growth plan. CEO Brad Barber emphasizes the importance of this expansion, which complements their successful warm start strategy and aims to increase participation in non-residential construction and industrial markets.
H&E Equipment Services, Inc. (NASDAQ: HEES) has signed a definitive agreement to acquire One Source Equipment Rental, Inc. for $130 million in cash. One Source operates 10 branches primarily in the Midwest and Southern U.S., generating approximately $59 million in revenues in the last year. The acquisition is set to expand H&E's geographic footprint and enhance customer loyalty, aligning well with its existing operations. The transaction is expected to close in Q4 2022, subject to regulatory approval.
H&E Equipment Services (NASDAQ: HEES) announced a quarterly cash dividend of
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