Herc Holdings (NYSE: HRI) reported Q1 EPS of $1.10, $0.85 better than the analyst estimate of $0.25. Revenue for the quarter came in at $453.8 million versus the consensus estimate of $417.23 million. Adjusted EBITDA expanded 25.0% to $184.6 million and adjusted EBITDA margin of 40.7% rose 680 basis points

"Our year is off to a great start with first quarter total revenues up 4% and adjusted EBITDA up 25% compared with last year," said Larry Silber, president and CEO. "Our adjusted EBITDA margin hit a record for the first quarter of 40.7% and reflects the strength of our operating model. Strong performance by our ProSolutions® and entertainment rental businesses drove rental revenue growth, and the efficient execution of our operating model propelled adjusted EBITDA margin expansion of 680 basis points. Our focus on customer service and the consistent implementation of a strategy to diversify our customer and industry base continues to demonstrate the strength of our business."

GUIDANCE:

The Company raised full year 2021 adjusted EBITDA guidance to $800 million to $840 million and maintained $400 million to $450 million for net rental equipment capital expenditures

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