Herc Holdings Q1 2022: Record rental revenue up 31.6%, raises FY guidance

HERC HOLDINGS INC

2022-Q1 EPS reported $1.92 revenue$567,300,000

Equipment rental revenue record $526.8M (+31.6% YoY); total revenue $567.3M (+25.0%).
Net income $58.5M ($1.92 diluted EPS); adjusted EPS $1.95.
Adjusted EBITDA record $236.8M (+28.3%), margin 41.7% (+100 bps).
Dollar utilization record 41.4% (+280 bps); pricing up 4.3% YoY.
FY 2022 adjusted EBITDA guidance raised to $1,175M-$1,245M; net rental capex guidance raised to $900M-$1,120M.

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