Herc Holdings (NYSE: HRI) reported Q3 EPS of $1.35, $0.55 better than the analyst estimate of $0.80. Revenue for the quarter came in at $456.7 million versus the consensus estimate of $427.86 million.

Outlook for the Year:

The Company raised adjusted EBITDA guidance for the full year.

"Our improving efficiency in the third quarter reflects our ability to manage through challenging times," said Silber. "We currently estimate fourth quarter fleet on rent is likely to decline approximately 4% to 6% and rental revenue to decline approximately 6% to 8% year-over-year. Adjusted EBITDA margin for the fourth quarter and full year should improve versus the comparable prior-year periods. Our strong free cash flow position for the nine-month period ending September 30, 2020, is already substantially higher than the amount we generated for the full year 2019, and should continue to improve during the remainder of the year. With reduced leverage and ample liquidity, we are well positioned for 2021.

"I'm proud of what our Herc team members have accomplished year to date. We know we have to prove ourselves every day and we are committed to helping our customers operate efficiently, effectively and safely," he added.

For earnings history and earnings-related data on Herc Holdings (HRI) click here.