Herc Holdings Q1 2024 record revenue $804M (+9%), adj. EBITDA +10%, affirms FY2024 guidance

HERC HOLDINGS INC

2024-Q1 EPS reported $2.29 revenue$804,000,000

Record Q1 total revenue $804M (+9% YoY); net income $65M ($2.29 diluted EPS) down 3% due to higher interest and tax rate.
Adjusted EBITDA $339M (+10%), margin 42.2% vs 41.6% a year ago; rental pricing up 5.1%.
Affirms FY2024 guidance: equipment rental revenue growth 7-10%, adjusted EBITDA $1.55B-$1.60B, net capex $500M-$700M.
Added 15 locations in Q1 via 4 acquisitions and 4 greenfields; corporate credit rating upgraded to BB by S&P.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

HERC HOLDINGS INC reported first quarter ended March 31, 2024 results: revenue $804 million, net income $65 million, EPS $2.29 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $804 million
Net income: $65 million
EPS: $2.29 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

(EX-99.1) --- Herc Holdings Reports Strong First Quarter 2024 Results and Affirms 2024 Full Year Guidance First Quarter 2024 Highlights – 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%

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Source: SEC EDGAR

accession 0001364479-24-000025

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