Herc Holdings Inc. - HRI STOCK NEWS

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.

Herc Holdings (NYSE: HRI), a leading equipment rental company, has announced its participation in the Morgan Stanley 12th Annual Laguna Conference in Laguna Niguel, CA. The company's president and CEO, Larry Silber, along with CFO Mark Humphrey, will engage in a fireside chat discussion on September 11, 2024, at 11:40 AM PDT (2:40 PM EDT).

The event will be simultaneously webcast and accessible to investors through a live stream link. Additionally, the webcast can be viewed on Herc Holdings' investor relations events and presentation page. This participation underscores Herc Holdings' commitment to engaging with investors and sharing insights about their business operations and strategy.

Herc Holdings Inc. (NYSE: HRI), a leading North American equipment rental supplier, has released its 2024 Corporate Citizenship Report. The report highlights significant progress in sustainability initiatives, including:

- 26% reduction in Scope 1 and 2 greenhouse gas emissions intensity
- 24.6% reduction in non-toxic waste to landfill intensity
- Total Recordable Incident Rate of 0.80, better than industry benchmark
- Improved employee Net Promoter Score of 44
- Launch of Volunteer Time Off benefit
- Adoption of Supplier Engagement Survey

Herc Rentals has received multiple recognitions, including Newsweek's Most Responsible Companies and EcoVadis Silver Award. The company aims to build long-term value for stakeholders while progressing environmental, social, and governance priorities.

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 payable on September 6, 2024, to shareholders of record as of August 23, 2024. This declaration by the Board of Directors demonstrates the company's commitment to returning value to shareholders and reflects confidence in Herc Holdings' financial stability and future prospects.

Herc Holdings (NYSE: HRI) reported Q2 2024 results with record equipment rental revenue of $765 million, up 9% year-over-year. Total revenues increased 6% to $848 million. Rental pricing rose 3.5%, while volume increased 6.4%. However, net income decreased 8% to $70 million ($2.46 per diluted share). Adjusted EBITDA grew 2% to $360 million with a 42.5% margin.

The company saw deceleration in local market growth due to higher interest rates, offset by acquisitions and new locations. Mega project activity is ramping up for the second half. Herc reaffirmed its 2024 full-year guidance, expecting 7-10% equipment rental revenue growth and adjusted EBITDA of $1.55-1.60 billion.

Herc Holdings (NYSE: HRI) announced that it will release its second quarter 2024 financial results on July 23, 2024, before the market opens. Following the release, the company will hold an investor conference call at 8:30 a.m. ET to review the results. The conference call will likely include discussions on material business, financial, or other information not included in the press release. Interested parties can access the live webcast of the event at the company's Investor Relations website or via a specified link. For U.S. participants, the call can be accessed by dialing +1-800-715-9871. International participants can find the appropriate dial-in numbers through a provided directory link. An access code (9128891) is required for joining the call. Participants are advised to dial in 10 to 15 minutes before the scheduled start. A replay of the call will be available on the company website for 12 months.

Herc Holdings (NYSE: HRI) announced an upsized offering of $800 million in 6.625% senior unsecured notes due 2029. This increase from the initial $500 million offering was well-received, and the closing is anticipated around June 7, 2024, subject to customary conditions. The notes, guaranteed by current and future domestic subsidiaries, aim to repay part of the company's senior secured asset-based revolving credit agreement and cover associated costs. The offering was made under Rule 144A and Regulation S of the Securities Act, targeting qualified institutional buyers in the U.S. The notes are not registered under the Securities Act and cannot be offered in the U.S. without registration or an applicable exemption.

Herc Holdings announced a proposed private offering of $500 million in senior unsecured notes due 2029. These notes will be offered to qualified institutional buyers in the U.S. and internationally, exempt from registration under the Securities Act of 1933. The proceeds will be used to repay part of the company's existing debt under its revolving credit agreement and to cover related fees and expenses. The notes will bear interest payable semi-annually and will be guaranteed by Herc Holdings' domestic subsidiaries. The specific terms will be determined at the time of pricing.