Herc Holdings reports Q2 adjusted EPS $1.87, consensus $1.63

Reports Q2 revenue $1.00B, consensus $981.3M. “Q2 marked an important milestone for our company. On June 2nd, we completed the transaction to bring Herc Rentals and H&E Equipment Services together. This acquisition, the largest in the industry, will accelerate our strategy to deliver market leading growth and superior value creation by providing geographic and customer diversification, a substantially expanded footprint in key regions with economies of scale, and a larger fleet to strengthen our position as a premier rental company in North America,” said CEO Larry Silber. “With the merger now behind us, our focus is on integration, optimization and ensuring delivery of the revenue and cost synergy targets we established. It has been only about 8 weeks since the close and I am pleased with the go-to-market collaboration, fleet sharing, and process alignment…While integration is off to a great start, of course there is a lot of work ahead. H&E’s performance was impacted by disruptions to the employee base during the acquisition bidding process and through the closing. Since taking over, we have stabilized that, but dis-synergies had already resulted. Those, combined with the continued moderation in the interest-rate sensitive commercial sector are factored into our new, combined outlook for 2025, which also incorporates offsetting strength in mega project activity and ongoing growth in our specialty solutions business.”