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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 Inc. (NYSE: HRI) reported a strong first quarter for 2023, achieving a record equipment rental revenue of $654 million, a 24% increase, and total revenues of $740 million, up 30% year-over-year. Net income rose 16% to $67 million, or $2.28 per diluted share. The adjusted EBITDA increased by 30% to $308 million, with a margin of 41.6%. Rental pricing also saw a year-over-year increase of 7%. The company repurchased approximately 460,000 shares. Despite challenges like supply chain disruptions and a decline in studio entertainment revenue, Herc Holdings maintains a diversified business model and strategic investments to capture growth opportunities. Guidance for full-year adjusted EBITDA remains positive, anticipating a growth of 18% to 26% compared to 2022.
Herc Holdings Inc. (NYSE: HRI) will release its first quarter 2023 financial results on April 20, 2023, before the market opens. An investor conference call will follow at 8:30 a.m. ET, where management will discuss the results and potentially reveal significant business and financial information not included in the press release.
Investors can access the live webcast through HercRentals.com and the call is available via dial-in for U.S. participants at +1-888-660-6011. The replay of the conference call will be archived for 12 months. Herc Holdings has approximately $2.7 billion in total revenues for 2022 and operates 356 locations in North America.
TNT Crane & Rigging has appointed Mark Irion as its new CEO, effective immediately, succeeding Mike Appling, who will assist with the transition until April 30, 2023. Irion, who has extensive experience in the equipment rental industry, previously served as CFO at Herc Holdings since June 2018. He has been a director on TNT's Board since June 2020. The Board expressed confidence in Irion's vision for growth and his deep understanding of the company. TNT, headquartered in Houston, TX, is the largest open-shop crane services platform in North America, operating over 40 branches and serving more than 4,000 customers.
Herc Holdings Inc. (NYSE: HRI) announced that CEO Larry Silber and CFO Mark Humphrey will participate in a fireside chat at the Bank of America Securities Global Industrials Conference on March 22, 2023, at 10:50 AM ET. This session will focus on the company’s strategic initiatives and will include private meetings. Investors can access the live chat through the provided link and via the company's investor relations page. Herc Holdings operates over 356 locations in North America, generating approximately $2.7 billion in total revenues for 2022, offering a wide range of equipment rentals and specialized services.
Herc Holdings Inc. (NYSE: HRI) announced a leadership change effective March 10, 2023. Senior VP and CFO Mark H. Irion will resign, remaining until March 31, 2023, to ensure a smooth transition. Promotion of Mark Humphrey from VP and Chief Accounting Officer to CFO is set, with his tenure at the company starting in April 2017. Additionally, Mark Schumacher will take on the role of Chief Accounting Officer. The company emphasizes continuity and stability in leadership amid its strategic growth initiatives. Herc Holdings reported approximately $2.7 billion in total revenues for 2022, operating 356 locations in North America.
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