Question · Q4 2025
Sharif El-Sabbahy sought to reconcile the $230 million EBITDA expansion, with $190 million from synergies, against commentary on positive pricing, stable local markets, and mega project growth. He suggested that the Q1 H&E lapping might account for the remaining $40 million expansion.
Answer
Mark Humphrey (SVP and CFO) reiterated that pro forma Q1 2026 would be down year-over-year, noting the company was 'walking into the year down minus 6' after adjusting for the Q4 2024 hurricane. He expects performance to build out of this decline after the Q2 shoulder period, ramping into growth in the second half of the year, aligning with incremental synergy fleet and optimized branches.
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HRI's earnings beat/miss a week before the call