Alec M's questions to Herc Holdings Inc (HRI) leadership • Q2 2025
Question
Alec M, on behalf of Tami Zakaria at JPMorgan Chase & Co., asked for the timing of planned equipment sales in H2 2025, the expected recovery rates, the state of the used market, and how synergies versus dissynergies are reflected in the full-year guidance.
Answer
SVP & CFO Mark Humphrey stated that the second-half equipment dispositions would likely be spread ratably across Q3 and Q4. SVP & COO Aaron Birnbaum characterized the used equipment market as 'healthy' and 'stable,' comparable to 2019 levels. Mr. Humphrey clarified that the guidance assumes H&E's revenue decline would be slightly greater than 15% in the second half due to tough comparisons.