Herc Holdings reports record Q3 rental revenue $866M (+13% YoY); raises FY revenue guidance

HERC HOLDINGS INC

2024-Q3 EPS reported $9.02 revenue$2,617,000,000

Q3 total revenues $965M (+6% YoY); net income $122M (+8%); adjusted EPS $4.35 vs $4.00 prior year.
Record equipment rental revenue $866M (+13% YoY); pricing +2.3%, volume +10.7%; dollar utilization 42.2%.
Adjusted EBITDA $446M (+9%); margin 46.2%; FY EBITDA guidance reaffirmed at $1.55B-$1.60B.
FY2024 rental revenue growth guidance raised to 9.5%-11% from 7%-10%; net capex narrowed to $650M-$700M.

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