NYSE$HRI
Herc Holdings · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Herc Holdings' third quarter performance was strong, with significant revenue and income growth driven by robust demand and effective cost management.
Herc Holdings reported a strong third quarter in 2022, marked by significant increases in equipment rental revenue, total revenue, and net income. The company's adjusted EBITDA also saw substantial growth, and they raised their full-year adjusted EBITDA guidance.
- Equipment rental revenue increased by 35.9% to a record $706.2 million.
- Total revenues increased by 35.4% to $745.1 million.
- Net income increased by 40.2% to $101.4 million, or $3.36 per diluted share.
- Adjusted EBITDA grew by 40.3% to a record $345.0 million, with adjusted EBITDA margin expanding to 46.3%.
Headline financials
Revenue & EPS history
Herc Holdings · Revenue · Quarterly
$745M
Revenue by segment
Herc Holdings · $745M total across 4 segments · Q3 2022
- Equipment Rental$706M+35.9%94.8%
- Sales of Rental Equipment$21.5M+29.5%2.9%
- New Equipment & Parts$10M+16.3%1.3%
- Service and Other$7.4M+32.1%1.0%
Forward guidance
The Company updated its full year 2022 adjusted EBITDA guidance range and net rental capital expenditures guidance. The updated guidance range for the full year 2022 adjusted EBITDA reflects an increase of 36% to 40% compared to full year 2021 results.
Tailwinds
- Demand from our customers continues to be strong as we close out 2022.
- We continue to benefit from tight equipment inventory
- Believe a secular shift from ownership to rental is accelerating.
- With the steady announcement of new industrial, alternative energy and infrastructure projects
- We believe we are well-positioned to generate continued revenue growth in 2023 and beyond.
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 Q3 2022
-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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