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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 a quarterly cash dividend of $0.275 per share, payable on December 10, 2021, to stockholders of record as of November 23, 2021. Founded in 1961, H&E is a leading rental equipment company operating in 24 states with a versatile fleet catering to diverse markets. Despite facing challenges from COVID-19 and market conditions, the company continues to demonstrate commitment to returning value to stockholders through regular dividends.
H&E Equipment Services (HEES) reported a strong third quarter for 2021, with revenues up 10.4% year-over-year to $319.4 million and net income rising to $29.5 million, compared to $10.1 million in Q3 2020. The effective tax rate decreased to 24.8%. Adjusted EBITDA increased 20.6% to $119.1 million. Equipment rental revenues surged 22.1% to $197.2 million, with average rental rates improving by 2.9%. The company successfully transitioned to a pure rental business, agreeing to sell its crane operations, expected to close on October 1, 2021, for about $130 million.
H&E Equipment Services, Inc. (NASDAQ: HEES) will release its 2021 third quarter financial results on November 2, 2021, before market opening. A conference call is scheduled for the same day at 10:00 a.m. (ET) to discuss these results. Participants can join the call by dialing 844-887-9400. A telephonic replay will be available from 1:00 p.m. on November 2 until November 9, 2021. Live audio of the call will be accessible online, as well as related presentation materials, which will be posted on the Company's website.
H&E Equipment Services has completed the sale of its crane business to a wholly-owned subsidiary of Manitowoc Company for approximately $130 million. The cash proceeds will fund facility expansions, rental fleet investments, and general corporate purposes. CEO Brad Barber stated that this divestment allows H&E to focus exclusively on its equipment rental strategy, potentially enhancing revenue and margins. Additionally, the sale of two earthmoving distribution branches in Arkansas was finalized, maintaining H&E's operations in Louisiana, bringing their rental operations to 101 branches across 24 states.
The Manitowoc Company has completed the acquisition of the crane business from H&E Equipment Services for approximately $130 million. This strategic move is intended to enhance Manitowoc's aftermarket services and expand its market reach through the establishment of MGX Equipment Services, LLC, which will focus on sales, service, parts, and financing for cranes. The acquisition aligns with Manitowoc's goal of increasing shareholder value and improving customer support.
H&E Equipment Services, Inc. (NASDAQ: HEES) has declared a quarterly cash dividend of $0.275 per share, payable on September 17, 2021, to stockholders of record by August 27, 2021. H&E is a major provider of heavy construction and industrial equipment, operating 107 full-service facilities across various regions in the U.S. The company offers equipment rental, sales, parts, and maintenance services, enhancing customer relationships and operational efficiency.
H&E Equipment Services (NASDAQ: HEES) reported strong Q2 2021 results, with revenues rising 13.4% to $315.8 million and net income of $15.8 million, up from $8.8 million a year earlier. Equipment rental revenues increased 14.9% to $179.0 million, while adjusted EBITDA grew 7.4% to $102.3 million, yielding a margin of 32.4%. Gross margin improved to 35.3%. Notably, the company announced a pending $130 million sale of its crane business, aiming to enhance its rental equipment focus. A quarterly dividend of $0.275 per share was also declared, reflecting confidence in financial stability.
H&E Equipment Services (NASDAQ: HEES) will release its Q2 2021 financial results on August 3, 2021, before market opening. A conference call to discuss these results is scheduled for the same day at 10:00 a.m. ET. Participants can access the call by dialing 877-317-6789. A replay will be available after 1:00 p.m. ET on August 3 until August 10. The live broadcast will also be available online for 30 days. The company operates 105 full-service facilities across the U.S., focusing on heavy construction and industrial equipment.
H&E Equipment Services (NASDAQ: HEES) announced a definitive agreement to sell its crane business to The Manitowoc Company (NYSE: MTW) for $130 million in cash. The transaction, expected to close in Q4 2021, aims to enhance H&E's focus on the equipment rental market, which has shown significant growth, increasing rental revenues from 32% to 51% over the past decade. The sale will strengthen H&E's EBITDA margin and allow investment in fleet expansion and technology. The transaction was unanimously approved by H&E's Board of Directors.
H&E Equipment Services, Inc. (NASDAQ: HEES) announced a quarterly cash dividend of $0.275 per share, payable on June 18, 2021, to stockholders of record by the close of business on June 2, 2021. As one of the largest integrated equipment service companies in the U.S., H&E operates 104 facilities across various regions, focusing on heavy construction and industrial equipment. They provide a comprehensive range of services, including rentals, sales, and parts support, enhancing customer interaction and market reach.
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