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Herc Holdings (HRI)
NYSE:HRI
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$3.94Last Year’s EPS
$3.24Same Quarter Last Year
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: 11.16%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected strong rental revenue growth driven by mega projects and specialty fleet expansion. However, challenges such as higher interest expenses, local market slowdown, and acquisition impacts on margins were noted. Overall, the company managed to outperform the market with strategic expansions and maintained safety and operational efficiencies.Company Guidance
During the Herc Holdings Q3 2024 earnings call, the company provided guidance suggesting rental revenue growth of 9.5% to 11% for the full year, supported by organic growth and 2024 acquisitions. The company maintained its adjusted EBITDA guidance range at $1.55 billion to $1.6 billion, indicating a growth of 6% to 9% over the previous year. Rental rates increased by 2.3% year-over-year in the quarter and 3.5% year-to-date. The company expects to achieve record rental revenue in the fourth quarter due to mega projects, new acquisitions, and hurricane recovery efforts. Additionally, net fleet CapEx is projected near the high end of the guidance range, with $1 billion expected to be spent on new fleet purchases for the year, while fleet dispositions are planned at approximately $700 million. Adjusted EBITDA margin was reported at nearly 50% for the core business, with rental revenue growth significantly outpacing the overall industry's performance at nearly 12% in the quarter.Record Rental Revenue Increase
Rental revenue increased by 13.2% and adjusted EBITDA increased by 8.8% to a record $446 million.
Mega Project Participation
Mega projects led national account business with double-digit growth, emphasizing Herc's strategic advantage and market share.
Specialty Fleet Growth
Specialty fleet grew at double digits, contributing significantly to the revenue growth and reflecting strategic focus.
Strong Safety Performance
99% of days were perfect in safety measures, and the total recordable incident rate remained better than industry benchmark.
Urban Market Expansion
Expanded footprint with 5 new locations and significant acquisitions, enhancing market presence in key metropolitan areas.
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HRI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HRI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $168.53 | $197.96 | +17.46% |
| Jul 23, 2024 | $143.12 | $152.07 | +6.25% |
| Apr 23, 2024 | $146.52 | $151.56 | +3.44% |
| Feb 13, 2024 | $152.03 | $138.77 | -8.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Herc Holdings (HRI) report earnings?
Herc Holdings (HRI) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is Herc Holdings (HRI) earnings time?
Herc Holdings (HRI) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HRI EPS forecast?
HRI EPS forecast for the fiscal quarter 2024 (Q4) is $3.94.
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