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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) reported a 2.6% revenue decline to $278.4 million for Q1 2021, with net income rising to $4.2 million from a net loss of $(37.0) million due to a prior goodwill impairment. Adjusted EBITDA fell 16.2% to $83.2 million, reflecting a margin decrease from 34.7% to 29.9%. Equipment rental revenues decreased by 10.5%, while new and used equipment sales rose significantly, by 22.3% and 33.8%, respectively. The company opened two new branches and maintained a quarterly dividend of $0.275 per share.
H&E Equipment Services, Inc. (NASDAQ: HEES) will release its 2021 first quarter financial results on April 27, 2021, before market opening. A conference call to discuss the results will take place the same day at 10:00 a.m. ET. Interested participants can join by dialing 877-317-6789. A replay will be available later in the day and will continue until May 4, 2021. The live broadcast of the call can be accessed on the company's website, with related presentation materials posted in advance.
H&E Equipment Services (NASDAQ: HEES) reported a net loss of $(14.6) million for Q4 2020, down from net income of $21.9 million in Q4 2019. Revenue declined 9.3% to $315.6 million, with total equipment rental revenues dropping 13.9%. Adjusted EBITDA fell 19.8% year-over-year to $101.6 million. The company successfully completed an offering of $1.25 billion in new senior notes, used primarily to repurchase older notes. Despite challenges, management expressed optimism regarding demand trends and ongoing business improvement as they look towards growth initiatives in 2021.
H&E Equipment Services (NASDAQ: HEES) has declared a quarterly cash dividend of $0.275 per share for its stockholders. The payment is scheduled for March 12, 2021, with a record date of February 26, 2021. As one of the largest integrated equipment services companies in the U.S., H&E provides rental, sales, and service support for heavy construction and industrial equipment through its extensive network of 97 facilities. This dividend reflects confidence in the company’s continued performance amidst potential market uncertainties.
H&E Equipment Services, Inc. (NASDAQ: HEES) announced it will release its 2020 fourth quarter financial results on February 17, 2021, before market opening. A conference call is scheduled for the same day at 10:00 a.m. (Eastern Time) to discuss the results. Participants can join by dialing 877-270-2148. A telephonic replay will be available after 1:00 p.m. on February 17 until February 24, 2021. The live broadcast will be accessible online and related presentation materials will be posted prior to the call on the Company’s website.
H&E Equipment Services, Inc. (NASDAQ: HEES) announced the appointment of John McDowell Engquist as President and COO, effective January 1, 2021. Mr. Engquist will succeed Bradley W. Barber, who will remain the CEO and a Director. Barber praised Engquist's operational expertise and leadership as vital for maximizing performance and pursuing growth opportunities through branch expansions and acquisitions. H&E is a leading equipment services provider in the U.S., offering a comprehensive approach to equipment rentals, sales, and services across various sectors.
H&E Equipment Services (NASDAQ: HEES) has successfully closed a private placement offering of $1.25 billion in 3.875% senior notes due 2028. The net proceeds, approximately $1.24 billion, will fund the purchase of existing 5.625% senior notes due 2025, with around 58.3% already tendered. Remaining Old Notes will be redeemed at a price of 104.2188% of their principal on December 30, 2020. The offering does not constitute an offer to purchase the Old Notes. Forward-looking statements warn of risks affecting future performance.
H&E Equipment Services, Inc. (NASDAQ: HEES) has priced its private placement of $1.25 billion in 3.875% senior notes due 2028, at 100% of principal. The offering is set to close on December 14, 2020, contingent on customary conditions. Proceeds will finance the purchase of existing 5.625% senior notes due 2025, cover associated fees, and support general corporate purposes. The notes are being offered to qualified institutional buyers under Rule 144A and have not been registered under the Securities Act. The press release also contains forward-looking statements regarding potential risks and uncertainties.
H&E Equipment Services announces a cash tender offer for its $950 million 5.625% Senior Notes due 2025. The offer is linked to a proposed $1.25 billion senior notes offering, with proceeds expected to fund the tender. The tender offer expires at 5:00 PM ET on December 11, 2020, with a payment date set for December 14, 2020. Holders will receive $1,043.75 per $1,000 of notes tendered plus accrued interest. The company will also redeem any untendered notes at a premium of 104.2188% if the proposed offering is completed.
H&E Equipment Services (NASDAQ: HEES) announced a private placement offering of $1.25 billion in senior notes due 2028. The offering aims to fund the purchase of existing senior notes due 2025 and cover associated fees and expenses. The notes will be senior unsecured obligations guaranteed by current and future material domestic subsidiaries. The issuance is restricted to qualified institutional buyers, as per Regulation S and Rule 144A under the Securities Act. This offering does not constitute a solicitation or offer to sell in jurisdictions where it would be illegal.
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