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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) has announced the acquisition of Dwight Crane Ltd. and its U.S. affiliate, LRX LLC. This acquisition aims to enhance Herc's entertainment-related rental portfolio, which already includes brands like Herc Entertainment Services and Cinelease. Dwight Crane, based in Ajax, Ontario, has over 40 years of experience in the film and event rental sector, providing equipment like aerial lifts and lighting trucks. The strategic move is expected to strengthen Herc's presence in North America's entertainment market and introduce cutting-edge technologies.
Herc Holdings Inc. (NYSE: HRI) will conduct an Investor Day on September 20, 2021, from 4:00 p.m. to 5:30 p.m. EDT in New York City. Senior management, including CEO Larry Silber and COO Aaron Birnbaum, will discuss operational and financial strategies. The meeting is accessible via a live webcast, with archived versions available for 90 days. Herc Holdings operates through Herc Rentals Inc., boasting 280 locations in North America and generating nearly $1.8 billion in total revenues in 2020.
Herc Holdings Inc. (NYSE: HRI) has successfully acquired CBS Rentals, a Texas-based equipment rental company with 190 employees and 12 locations. This acquisition expands Herc Rentals' presence to 38 locations in Texas, a significant equipment rental market. The deal enhances Herc's capacity to serve construction, industrial, and government clients efficiently. Herc, with 280 locations and over 4,800 employees, aims to leverage this acquisition to strengthen its market position and service offerings.
Herc Holdings Inc. (NYSE: HRI) has signed a purchase agreement to acquire nearly all assets of CBS Rentals, a Texas-based equipment rental company. This acquisition, pending customary approvals, aims to enhance Herc Rentals' footprint in Texas, increasing its locations to 38. Employing around 190 staff, CBS serves construction and industrial markets. The CEO stated that this move is expected to be accretive to earnings in the first year and aligns with Herc's strategy for growth in key urban markets across North America.
Herc Holdings reported strong financial results for Q2 2021, with equipment rental revenue rising 36.8% to $448 million and total revenue increasing 33.4% to $490.9 million. Net income surged to $47.1 million, or $1.55 per diluted share, compared to $2 million in Q2 2020. The company raised its adjusted EBITDA guidance for the year to between $840 million and $870 million, reflecting improved operating efficiencies and market demand. Q1-Q2 2021 generated $141.1 million in free cash flow, with net leverage dropping to 1.9x, below its target range.
Herc Holdings Inc. (NYSE: HRI) will host its second quarter 2021 earnings call on July 22, 2021, at 8:30 a.m. EDT. A press release with financial results will precede the call. Shareholders can participate by dialing in ahead of the start time. Herc Holdings, a leading equipment rental supplier with 282 locations in North America, reported revenues of approximately $1.8 billion in 2020. The company offers a diverse range of equipment for rent and aims to assist customers in working efficiently and safely.
Herc Holdings Inc. (NYSE: HRI) will participate in the Goldman Sachs Industrials & Materials Conference on May 12, 2021. The event will feature a live webcast of a fireside chat with CEO Larry Silber and CFO Mark Irion at 9:40 AM EDT. A recording will be available on the company’s website for 30 days post-event.
Herc Holdings operates approximately 282 locations across North America, offering a wide range of equipment rentals and services. In 2020, the company reported total revenues of approximately $1.8 billion.
Herc Holdings reported strong financial results for Q1 2021, with equipment rental revenue at $400.4 million, a 3.6% increase year-over-year. Total revenues rose 4.0% to $453.8 million. The company achieved net income of $32.9 million, compared to a loss of $3.7 million the previous year. Adjusted EBITDA surged 25.0% to $184.6 million, with a record margin of 40.7%. Cash flow improved to $72.5 million from $39.2 million in 2020. Updated guidance for adjusted EBITDA now ranges from $800 million to $840 million.
Herc Holdings Inc. (NYSE: HRI) is set to host its first quarter 2021 earnings call on April 22, 2021, at 8:30 a.m. EDT. A press release detailing the financial results will be published the same day. The call and accompanying presentation can be accessed via the Investor Relations section of their website. Participants can dial in using U.S. and international numbers provided, and a replay will be available online for two weeks following the event.
Herc Holdings Inc. (NYSE: HRI) announced its participation in the Bank of America Securities Global Industrials Conference on March 16, 2021. CEO Larry Silber and CFO Mark Irion will engage in a fireside chat from 10:50 to 11:30 AM EDT. The event will be accessible via a live link. Herc Holdings operates through its subsidiary Herc Rentals Inc., boasting 277 locations in North America and approximately 4,800 employees. The company reported total revenues of around $1.8 billion in 2020, providing a wide range of rental equipment and industry-specific services.
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