Herc Holdings reports strong First Quarter 2024 and affirms 2024 full-year guidance
Record first quarter total revenues of $804 million, an increase of 9% Net income decreased 3% to $65 million, or $2.29 per diluted share Adjusted EBITDA of $339 million increased 10%; adjusted EBITDA margin increased to 42.2% Rental pricing increased 5.1% year-over-year Added 15 new locations through M&A and greenfield openings Corporate credit rating upgraded by S&P Global to BB Herc Holdings Inc. has reported financial...
Cooper Equipment Rentals acquires Action Equipment Rentals
Cooper Equipment Rentals Limited has acquired 100 percent of the shares of Red Deer, Alberta-based Action Equipment Rentals Inc. Action was formed in 1991 by Reginald Bloomfield and his father Ray Bloomfield in Sundre, Alberta, to serve the Central Alberta market. The company opened a second location in Red Deer about a year later. In 2015, Action consolidated operations in Red Deer, and under the leadership of general manager Gabriel...
United Rentals announces Record Fourth Quarter and full-year 2023 results
United Rentals, Inc. has announced the financial results for the fourth quarter of 2023 and reported its full-year results on Form 10-K. The company also announced its full-year 2024 guidance and an enhanced capital allocation strategy focused on balancing growth and returns to drive shareholder value that includes a lower targeted full-cycle leverage range, its intention to repurchase $1.5 billion of common stock in 2024 and a 10%...
ARA’s quarterly forecast shows increased optimism, slower growth and resilient markets
Rental revenue projections increase in U.S. and Canada heading into 2024 In its updated forecast, the American Rental Association (ARA) indicates that United States equipment rental industry’s growth will soften but still grow. Last quarter, the year-over-year growth was expected to be 7.6% in 2023 and 3.1% in 2024. The most current projections indicate 11.8% growth in 2023 totaling $71.5 billion in construction and general tool...
Herc Holdings reports record First Quarter 2023 results and affirms 2023 Full Year guidance
Record equipment rental revenue of $654 million, an increase of 24% Record total revenues of $740 million, an increase of 30% Net income increased 16% to $67 million, or $2.28 per diluted share Adjusted EBITDA of $308 million increased by 30%; adjusted EBITDA margin at 41.6% Rental pricing increased 7.0% year-over-year Common stock repurchases of approximately 460,000 shares Herc Holdings Inc. has reported financial results for the...
Herc Rentals reports increased revenues for first quarter ’21
Total revenues for the first quarter of 2021 were $453.8 compared to $436.2 million for Q120, a 4-percent hike Herc Holdings posted equipment rental revenue of $400.4 million in the first quarter of 2021 compared to $386.5 million during the first quarter of 2020, a 3.6-percent year-over-year increase. Total revenues for the first quarter of 2021 were $453.8 compared to $436.2 million for Q120, a 4-percent hike. Herc reported a net...
American Rental Association revenue forecast could reach $70.9 billion by 2022
The latest five-year forecast from the American Rental Association (ARA) calls for equipment and event rental revenues in North America to surpass $61.5 billion in 2019, including $55.8 billion in the United States and $5.7 billion in Canada, up 5.3% compared to 2018. Similar steady growth is expected in each of the successive years of the forecast to reach nearly $70.9 billion in revenue by 2022. The current figures, which are...
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