Herc Holdings Inc. ( (HRI) ) has released its Q4 earnings. Here is a breakdown of the information Herc Holdings Inc. presented to its investors.
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Herc Holdings Inc., operating through its subsidiary Herc Rentals Inc., is a leading full-line equipment rental supplier in North America, providing a diverse range of equipment and services aimed at improving customer efficiency, effectiveness, and safety across various industries.
In its latest earnings report, Herc Holdings announced record revenues for the fiscal year 2024, achieving significant growth despite challenging market conditions. The company reported total revenues of $3.568 billion, marking a 9% increase, and equipment rental revenue of $3.189 billion, an 11% rise year-over-year.
Key financial highlights include an adjusted net income of $367 million, up by 5%, and an adjusted EBITDA of $1.583 billion, an increase of 9%. These results were achieved through strategic pricing, agile fleet management, and cost controls. However, the company reported a net income of $211 million, impacted by a $194 million loss on Cinelease assets held for sale. The company also completed nine acquisitions and opened 23 new locations, underscoring its commitment to market expansion and efficiency.
Looking ahead, Herc Holdings remains cautious about the 2025 operating landscape, citing ongoing market pressures. However, the company is optimistic about leveraging its diversified business model and strategic investments to navigate these challenges and capitalize on new mega-project opportunities. Management anticipates equipment rental revenue growth between 4% to 6% and adjusted EBITDA ranging from $1.575 billion to $1.650 billion for the coming year.
