Herc Holdings posts record Q1 revenue of $740M, up 30%; adjusted EBITDA $308M, affirms FY guidance

HERC HOLDINGS INC

2023-Q1 EPS reported $2.28 revenue$740,000,000

Equipment rental revenue $654M (record), up 24% YoY; total revenue $740M up 30%.
Net income $67M ($2.28 diluted EPS); adjusted net income $69M ($2.35 diluted EPS).
Adjusted EBITDA $308M (+30%); margin 41.6% vs 41.7% prior; rental pricing +7% YoY.
Affirms FY 2023 adjusted EBITDA $1.45B-$1.55B; net rental capex $1.0B-$1.2B.
Repurchased ~460K shares for $52M; net leverage 2.5x; dividend raised 10% to $0.6325.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

HERC HOLDINGS INC updated its first quarter ended March 31, 2023 guidance (reaffirmed).

Period: first quarter ended March 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

issued a press release regarding its financial results for its first quarter ended March 31, 2023

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HERC HOLDINGS INC filing history →

Source: SEC EDGAR

accession 0001364479-23-000044

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