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Herc Holdings Inc. (NYSE: HRI), a premier full-service equipment rental company, has been a cornerstone in the equipment rental industry for over 50 years. Spun out of Hertz Global in 2016, Herc Holdings is now the third-largest equipment rental firm in North America, with an impressive fleet valued at $6.4 billion. Operating approximately 270 locations across the U.S. and Canada, and employing around 4,800 professionals, Herc Holdings serves a diverse clientele across various sectors.
The company provides comprehensive rental solutions to the construction and industrial segments, as well as government entities, railroads, infrastructure projects, remediation, emergency response, entertainment and events, and facilities maintenance. Herc Holdings is renowned for its extensive catalog, which includes aerial lifts, earthmoving equipment, material handling machinery, and a variety of specialty items.
Herc Holdings' strategic approach involves not only short-term rentals but also long-term commitments, particularly with industrial customers. This allows Herc to maintain its own staff at customer sites, ensuring seamless operations and superior service. The company's continuous investments in technology and equipment upgrades reflect its dedication to meeting client needs and staying ahead in the competitive market.
Recent achievements of Herc Holdings include expanding its fleet, enhancing customer service capabilities, and forging new partnerships. The company's financial health remains robust, backed by consistent revenue growth and strong market positioning. Herc Holdings' commitment to sustainability and operational excellence has solidified its reputation as a reliable partner in the equipment rental industry.
For the latest updates, news, and developments related to Herc Holdings Inc., stay tuned to this page and ensure you are informed about the company's performance and market activities.
Herc Holdings (NYSE: HRI) and H&E Equipment Services (NASDAQ: HEES) have entered into a definitive merger agreement, with H&E terminating its prior agreement with United Rentals. Under the terms, H&E shareholders will receive $78.75 in cash and 0.1287 Herc shares per share, valuing H&E at $104.89 per share. H&E shareholders will own approximately 14.1% of the combined company.
The merger will strengthen Herc's position as North America's third-largest rental company, with a leading presence in 11 of the top 20 rental regions. The combined company is expected to generate $300 million in annual EBITDA synergies by year three, including $125 million in cost synergies and $175 million from revenue synergies. The combined entity will have revenue of $5.2 billion and EBITDA of $2.5 billion.
The transaction is expected to close mid-year 2025, subject to regulatory approvals and tender of majority H&E shares. The deal is projected to be high single-digit accretive to Herc's cash earnings per share in 2026.
Herc Holdings has submitted a superior proposal to acquire H&E Equipment Services for $104.89 per share, consisting of $78.75 in cash and 0.1287 shares of Herc common stock per H&E share. This offer represents a 14% premium over United Rentals' previous $92.00 per share cash offer. H&E shareholders would own approximately 14.1% of the combined company.
The merger is expected to generate $300 million in annual EBITDA synergies by year three, including $125 million in cost synergies and $175 million from revenue synergies. The combined company would have over 600 locations with a fleet worth approximately $10 billion, strengthening Herc's position as North America's third-largest rental company.
The transaction is projected to close mid-year 2025, subject to regulatory approvals and tender of majority H&E shares. The deal is expected to be high single-digit accretive to Herc's cash EPS in 2026, increasing to over 20% as synergies are realized.
Herc Holdings (NYSE: HRI) reported its Q4 and full-year 2024 results, achieving record equipment rental revenue of $839 million (+12%) and $3,189 million (+11%) respectively. The company posted a Q4 net loss of $46 million due to Cinelease assets held for sale, but adjusted net income increased 11% to $102 million.
Full-year 2024 highlights include total revenues of $3,568 million (+9%), rental pricing increase of 3.2%, and adjusted EBITDA of $1,583 million (+9%). The company completed 9 acquisitions and opened 23 new greenfield locations. For 2025, excluding Cinelease, Herc projects equipment rental revenue growth of 4-6% and adjusted EBITDA between $1.575-1.650 billion.
Net leverage remained stable at 2.5x with $1.9 billion in liquidity. The company declared a quarterly dividend of $0.665 per share.
Herc Holdings (NYSE: HRI), a leading equipment rental company, has announced its participation in the Barclays 42nd Annual Industrial Select Conference in Miami Beach, Florida. The company's president and CEO Larry Silber, along with CFO Mark Humphrey, will engage in a fireside chat discussion on Wednesday, February 19, 2025, at 11:35 AM ET.
The event will feature a simultaneous audio webcast accessible through the Herc Rentals website. Investors can also access the webcast through the company's investor relations events and presentation page at ir.hercrentals.com.
Herc Holdings (NYSE: HRI) has announced a 5% increase in its quarterly dividend, raising it by $0.035 to $0.70 per share. The dividend will be paid on March 4, 2025, to shareholders of record as of February 18, 2025. This adjustment brings the annual dividend rate to $2.80 per share, up from the previous $2.66 per share. President and CEO Larry Silber expressed confidence in the company's growth strategy and its ability to generate sustainable shareholder returns while maintaining readiness for future opportunities.
Herc Holdings (NYSE: HRI) has scheduled its fourth quarter and full year 2024 earnings release for February 13, 2025, before market opening. The company will host an investor conference call at 8:30 a.m. ET on the same day, where management will review results and may discuss additional material information not included in the press release.
The event will be accessible via live webcast on the company's investor relations website and through dial-in numbers for both U.S. (+1-800-715-9871) and international participants. A recording of the conference call will be available on the company website for 12 months.
Herc Holdings (NYSE: HRI), a leading North American equipment rental supplier, has announced a quarterly dividend of $0.665 per share. The dividend will be paid on December 27, 2024, to shareholders who are on record as of December 16, 2024.
Herc Holdings (NYSE: HRI) announced its participation in the Baird 2024 Global Industrial Conference in Chicago. The company's leadership team, including President and CEO Larry Silber, SVP and COO Aaron Birnbaum, and SVP and CFO Mark Humphrey, will engage in a fireside chat on Tuesday, November 12, 2024, at 1:45 PM CT (2:45 PM ET).
The discussion will be accessible via live audio webcast through both the conference platform and Herc Holdings' investor relations website.
Herc Holdings reported strong Q3 2024 results, with record equipment rental revenue of $866 million, up 13% year-over-year. Total revenues increased 6% to $965 million. Net income rose 8% to $122 million, or $4.28 per diluted share. Adjusted EBITDA grew 9% to $446 million with a 46.2% margin.
Key highlights include:
- Rental pricing increased 2.3% year-over-year
- Dollar utilization improved to 42.2%
- Free cash flow of $218 million for the nine months ended September 30, 2024
The company updated its 2024 full-year guidance, projecting equipment rental revenue growth of 9.5% to 11% and adjusted EBITDA of $1.55 billion to $1.60 billion. Herc Holdings continues to focus on expanding market share through fleet investments, strategic acquisitions, and greenfield opportunities.
Herc Holdings Inc. (NYSE: HRI) has announced the date for its third quarter 2024 earnings call and webcast. The company will release its financial results on October 22, 2024, before the market opens. This will be followed by an investor conference call at 8:30 a.m. ET. During the call, management will review the company's results and may discuss or disclose important business, financial, or other information not included in the press release.
A live webcast of the event will be available on the company's investor relations website. For those who prefer to dial in, both U.S. and international participants can access the call using provided phone numbers and an access code. Participants are advised to dial in 10 to 15 minutes before the call starts. A replay of the conference call will be available via webcast on the company's website for 12 months.
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