Herc Holdings (HRI) Misses Q2 EPS by 19c, Raises FY22 EBITDA Guidance
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Herc Holdings Reports Strong Second Quarter 2022 Results and Announces Share Repurchase Program
July 21, 2022 6:30 AM EDTSecond Quarter Highlights
Equipment rental revenue increased 35.1% to a record $605.4 million Total revenues increased 30.5% to $640.4 million Dollar utilization increased 40 basis points to 42.5% Net income increased 53.3% to $72.2 million, or $2.38 per diluted share Adjusted EBITDA grew 36.8% to a record $284.2 million and adjusted EBITDA margin expanded 210 basis points to 44.4% Company amends and extends its senior secured asset-based revolving credit facility from $1.75 billion to $3.5 billion, maturing July 5, 2027 Announces plan to repurchase shares under the 2014 Share Repurchase Program Narrows FY 2022 adjusted EBITDA guidance by raising lower end of... More