Herc Holdings Reports Record Q2 2024 Revenue but Net Income Declines 8%; Reaffirms Full-Year Guidance

HERC HOLDINGS INC

2024-Q2 EPS reported $4.75 revenue$1,652,000,000

Record equipment rental revenue of $765M, up 9% year-over-year; total revenues $848M, up 6%.
Net income decreased 8% to $70M ($2.46 per diluted share); adjusted EBITDA rose 2% to $360M.
Rental pricing increased 3.5% year-over-year; dollar utilization improved to 41.0%.
Completed 6 acquisitions with 21 locations in H1 2024; subsequently acquired Otay Mesa for $264M.
Reaffirmed 2024 guidance: equipment rental revenue growth 7%-10%, adjusted EBITDA $1.55B-$1.60B.

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