H&E Equipment Services Reports Third Quarter 2020 Results
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H&E Equipment Services (HEES) Misses Q3 EPS by 3c, Revenues Beat
October 28, 2020 7:12 AM EDTH&E Equipment Services (NASDAQ: HEES) reported Q3 EPS of $0.28, $0.03 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $289.3 million versus the consensus estimate of $282.42 million.
THIRD QUARTER 2020 SUMMARY
Revenues decreased 18.1% to $289.3 million versus $353.0 million a year ago.Net income was $10.1 million in the third quarter of 2020 compared to net income of $28.4 million a year ago. The effective income tax rate was 40.9% in the third quarter of 2020 and 26.7% in the third quarter of 2019. The increase in the effective income tax rate was primarily due to unfavorable... More