Herc Holdings Inc. - HRI STOCK NEWS

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.

Herc Holdings Inc. (NYSE: HRI) will participate in the Barclays Industrial Select Conference in Miami, Florida, on February 23, 2023. The company's senior management, including President Larry Silber and CFO Mark Irion, will conduct a live webcast starting at 1:15 PM EST. The event will be archived on the company’s website for 90 days, with audio accessible for 30 days post-event. Investors can find the event link on the company’s website and presentation slides will be available on the event day. Herc Holdings is a leading equipment rental supplier with 356 locations in North America and generated approximately $2.7 billion in total revenues in 2022.