Market Overview

Herc Holdings: Q3 Earnings Insights

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Shares of Herc Holdings (NYSE:HRI) were unchanged in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 8.78% over the past year to $1.35, which beat the estimate of $0.80.

Revenue of $456,700,000 decreased by 10.12% from the same period last year, which beat the estimate of $427,860,000.

Outlook

Herc raised its FY20 adjusted EBITDA from $625 million-$650 million to $655 million-$675 million.

Conference Call Details

Date: Oct 22, 2020

Time: 08:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/hri/mediaframe/40424/indexr.html

Technicals

Company's 52-week high was at $50.81

52-week low: $11.81

Price action over last quarter: Up 26.15%

Company Overview

Herc Holdings is an equipment rental company that was spun out of Hertz Global in 2016. It is currently the third- largest equipment rental company in North America, after United Rentals and Sunbelt Rentals, with 3% market share. It serves construction customers, the environmental sector, industrial entities, and entertainment production companies. During much of its 50-plus-year history, the company has rented equipment to its customers for intermittent use. Herc Holdings' strategy now offers to industrial customers long-term rental schemes, where Herc maintains its own staff at the customer site. In 2019, Herc Holdings' fleet included $3.8 billion of equipment at original cost. Annual companywide revenue was approximately $2 billion, including $1.7 billion in equipment rentals.

 

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Posted-In: Earnings News