HEES Company Report

H&E Rentals reported Q1 2025 revenues of $319.5 million, reflecting a 14.0% decline from Q1 2024, with total equipment rental revenues down 7.2%.
The quarter resulted in a net loss of $6.2 million (adjusted net income of $1.2 million), impacted by weak local market demand and merger-related pressures.
The company highlighted its branch expansion strategy with four new openings in Q1 and one planned for Q2, alongside an expected merger with Herc Rentals closing mid-year 2025.
Key contact information includes CFO Leslie S. Magee (225-298-5261) and VP of Investor Relations Jeffrey L. Chastain (225-952-2308).

Apr 29, 2025, 12:00 AM

H&E Equipment Services Reports Q4 2024 Results

HEES

Earnings

M&A

Q4 2024 results showed revenues at $384.1 million (down slightly from $385.8 million) and net income at $32.8 million (down from $53.5 million), with an effective tax rate of 13.6%.
Adjusted EBITDA declined by 5.6% to $174.9 million compared to $185.2 million in Q4 2023.
Total equipment rental revenues increased by 0.8% to $319.4 million while sales of new equipment surged by 109% to $20.5 million, highlighting varied performance across segments.
The company announced an agreement to be acquired by Herc Holdings Inc., aimed at combining over 120 years of industry experience.

Feb 21, 2025, 12:00 AM

Herc Holdings Acquires H&E Equipment Services: Acquisition Proposal Overview

HEES

M&A

Definitive Merger Agreement: Herc Holdings and H&E Equipment Services have entered into a definitive merger, marking a significant acquisition move.
Deal Terms: H&E shareholders will receive $78.75 in cash and 0.1287 Herc shares per share, totaling $104.89 per share.
Equity Stake: Post-merger, H&E shareholders will own approximately 14.1% of the combined company.
EBITDA Synergies: The transaction is expected to achieve approximately $300 million in EBITDA synergies, with annual benefits targeted by year three.
Combined Financial Profile: The merger creates a combined entity with revenues of about $5.2 billion and EBITDA of roughly $2.5 billion, expanding the network to over 600 branches with an OEC of nearly $10 billion at closing.
Financial Structure: Expected to close mid-2025, the deal will refinance H&E’s debt and is funded with $4.5 billion of new debt plus ABL support, targeting a reduction in pro forma net leverage from 3.8x to below 3.0x within 24 months.
Strategic Positioning: The merger further solidifies Herc’s status as the third largest rental company in North America.

Feb 18, 2025, 1:31 PM

Earnings Transcripts

Quarterly earnings call transcripts for HEES.

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