H&E Equipment Services Reports Third Quarter 2019 Results
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H&E Equipment Services (HEES) Tops Q3 EPS by 11c, Revenues Beat
October 24, 2019 7:10 AM EDTH&E Equipment Services (NASDAQ: HEES) reported Q3 EPS of $0.79, $0.11 better than the analyst estimate of $0.68. Revenue for the quarter came in at $353 million versus the consensus estimate of $341.41 million.
THIRD QUARTER 2019 SUMMARY
Revenues increased 9.6% to $353.0 million versus $322.1 million a year ago.Net income increased 33.4% to $28.4 million in the third quarter compared to net income of $21.3 million a year ago. The effective income tax rate was 26.7% in the third quarter of 2019 and 26.4% in the third quarter of 2018.Adjusted EBITDA increased 17.9% to $127.5 million in the third quarter compared to $108.2... More