NYSE$HRI
Herc Holdings · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Herc Holdings reported strong second-quarter results, marked by record equipment rental revenue and total revenue.
Herc Holdings reported a strong second quarter with a 25% increase in total revenues to $802 million and a 12% increase in net income to $76 million. Equipment rental revenue increased by 16% to $702 million, driven by higher pricing and volume. The company reaffirmed its full-year 2023 adjusted EBITDA guidance.
- Equipment rental revenue reached a record $702 million, up 16%.
- Total revenues also hit a record $802 million, a 25% increase.
- Net income rose to $76 million, or $2.66 per diluted share, a 12% increase.
- Adjusted EBITDA increased 24% to $352 million, with a margin of 43.9%.
Headline financials
Revenue & EPS history
Herc Holdings · Revenue · Quarterly
$802M
Revenue by segment
Herc Holdings · $802M total across 4 segments · Q2 2023
- Equipment Rental$702M+16.0%87.5%
- Sales of Rental Equipment$83M+330.1%10.3%
- New Equipment & Parts$10M+6.4%1.2%
- Service and Other$7M+11.1%0.9%
Forward guidance
The Company is reaffirming its full year 2023 adjusted EBITDA guidance range and net rental capital expenditures guidance.
Tailwinds
- Expects to continue to gain share.
- Capturing an outsized position of the forecasted higher construction spending in 2023.
- Investing in its fleet.
- Capitalizing on strategic acquisitions and greenfield opportunities.
- Cross-selling a diversified product portfolio.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.1%
Avg return
Earnings day
-0.7%
Avg return
5 days after
-0.8%
Avg return
30 days after
49%
33 / 67 earnings
Positive
+23.9%
Q3 2024
Best reaction
-16.5%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.7% | +6.8% | +9.9% | |
| Q4 2025 | -13.0% | -11.4% | -40.4% | |
| Q3 2025 | +4.1% | +6.6% | +3.0% | |
| Q1 2025 | -8.2% | -2.6% | +14.6% | |
| Q4 2024 | -6.0% | -10.8% | -37.8% | |
| Q3 2024 | +23.9% | +23.9% | +28.8% | |
| Q2 2024 | +1.1% | +6.9% | -4.2% | |
| Q1 2024 | +3.6% | +2.6% | +0.5% | |
| Q4 2023 | -7.2% | -4.7% | +1.6% | |
| Q3 2023 | -1.5% | -1.8% | +15.9% | |
| Q2 2023 | -5.4% | -5.3% | -9.3% | |
| Q1 2023 | -7.1% | -7.6% | -5.0% | |
| Q4 2022 | -2.6% | -2.8% | -26.1% | |
| Q3 2022 | -5.3% | +3.1% | +20.8% | |
| Q2 2022 | +2.3% | +2.1% | +17.1% | |
| Q1 2022 | -16.3% | -19.6% | -32.3% | |
| Q4 2021 | -14.3% | -11.6% | -13.9% | |
| Q3 2021 | +0.2% | -7.6% | +0.1% | |
| Q2 2021 | +0.0% | +3.1% | +1.8% | |
| Q1 2021 | +4.1% | +12.0% | +8.0% | |
| Q4 2020 | +7.6% | +16.1% | +36.5% | |
| Q3 2020 | +2.3% | -4.0% | +25.5% | |
| Q2 2020 | +2.1% | -3.9% | +14.0% | |
| Q1 2020 | +3.5% | +17.1% | +14.8% | |
| Q4 2019 | -0.9% | -3.8% | -48.1% | |
| Q3 2019 | -9.8% | -6.7% | -2.1% | |
| Q2 2019 | -5.4% | -9.9% | -8.6% | |
| Q1 2019 | -6.2% | -11.6% | -29.3% | |
| Q4 2018 | +12.2% | +7.0% | -2.8% | |
| Q3 2018 | +10.7% | +10.9% | -11.4% | |
| Q2 2018 | -7.7% | -9.2% | -12.1% | |
| Q1 2018 | +3.9% | +6.0% | +6.3% | |
| Q4 2017 | +0.8% | +1.7% | -1.8% | |
| Q3 2017 | +14.9% | +11.5% | +27.0% | |
| Q2 2017 | -14.9% | -14.3% | -0.9% | |
| Q1 2017 | +2.4% | -5.7% | -14.2% | |
| Q4 2016 | -6.5% | -9.1% | -5.4% | |
| Q3 2016 | +13.4% | +21.5% | +29.2% | |
| Q4 2015 | -9.8% | -10.8% | -1.6% | |
| Q2 2016 | -9.8% | -10.8% | -1.6% | |
| Q1 2016 | -0.4% | — | — | |
| Q3 2015 | -13.0% | — | — | |
| Q2 2015 | +11.5% | — | — | |
| Q4 2014 | +11.5% | — | — | |
| Q2 2014 | +11.5% | — | — | |
| Q3 2014 | +11.5% | — | — | |
| Q1 2015 | +11.5% | — | — | |
| Q1 2014 | +6.3% | — | — | |
| Q4 2013 | -0.9% | — | — | |
| Q3 2013 | -1.5% | — | — | |
| Q2 2013 | -0.6% | — | — | |
| Q1 2013 | -1.6% | — | — | |
| Q4 2012 | +2.2% | — | — | |
| Q3 2012 | -3.7% | — | — | |
| Q2 2012 | +4.5% | — | — | |
| Q1 2012 | +1.5% | — | — | |
| Q4 2011 | -1.7% | — | — | |
| Q3 2011 | +2.1% | — | — | |
| Q2 2011 | -16.5% | — | — | |
| Q1 2010 | -0.4% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2008 | +2.3% | — | — | |
| Q3 2010 | +2.2% | — | — | |
| Q3 2009 | +2.2% | — | — | |
| Q4 2009 | -1.1% | — | — | |
| Q2 2009 | -1.1% | — | — | |
| Q2 2010 | -1.1% | — | — |
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