BATON ROUGE, La., Oct. 29, 2024 (GLOBE NEWSWIRE) -- H&E Equipment Services, Inc. (NASDAQ: HEES) (“H&E”, the “Company”, d/b/a "H&E Rentals") today reported financial results for the third quarter ended September 30, 2024. The report includes the Company's branch expansion achievements, with the addition of eight new locations in the third quarter, expanding the Company's branch network to 157 locations across 32 states. THIRD QUARTER 2024 SUMMARY WITH A COMPARISON TO THIRD QUARTER 2023 Revenues declined 4.0% ...

BATON ROUGE, La., Oct. 22, 2024 (GLOBE NEWSWIRE) -- In the release issued under the same headline on Tuesday, October 22nd, by H&E Equipment Services, Inc. (NASDAQ: HEES) ("H&E", the "Company", d/b/a "H&E Rentals"), please note in the first sentence of the second paragraph, the date for the live broadcast should be October 29th, not July 30th. The corrected release follows: H&E Equipment Services, Inc. (NASDAQ: HEES) (“H&E”, the “Company”, d/b/a “H&E Rentals”) today announced that it will release its 2024 t ...

Core Viewpoint - H&E Equipment Services, Inc. is set to release its third quarter financial results for 2024 on October 29, 2024, and will hold a conference call to discuss these results [1] Group 1: Financial Results Announcement - The company will announce its 2024 third quarter financial results before the market opens on October 29, 2024 [1] - A conference call to discuss the results will take place on the same day at 10:00 a.m. (Eastern Time) [1] - Participants can join the call by dialing 844-887-9400 approximately 10 minutes prior to the start [1] Group 2: Conference Call Details - A telephonic replay of the conference call will be available after 1:00 p.m. (Eastern Time) on October 29, 2024, until November 12, 2024 [1] - The replay can be accessed by dialing 877-344-7529 and entering the confirmation code 3897091 [1] Group 3: Company Overview - H&E Equipment Services, founded in 1961, is one of the largest rental equipment companies in the United States [3] - The company boasts a young and versatile fleet, including aerial work platforms, earthmoving, material handling, and other specialty lines [3] - H&E serves diverse end markets across high-growth geographies with branches in various regions including the Pacific Northwest, West Coast, and Southeast [3]

Financial Data and Key Metrics Changes - Total revenues increased by 4.5% year-over-year, totaling $376.3 million, driven by higher rental revenues and sales of new equipment [48][45] - Net income for the second quarter was $33.3 million, or $0.91 per diluted share, compared to $41.2 million, or $1.14 per diluted share in the same quarter of 2023 [24] - Gross profit totaled $171.3 million, up 1.7% from the previous year, with a gross margin of 45.5%, down 120 basis points year-over-year [23] - Adjusted EBITDA increased by 2.8% to $173.2 million, with an adjusted EBITDA margin of 46% compared to 46.8% in the prior year [51] Business Line Data and Key Metrics Changes - Rental revenues grew by 6.5% to $275.5 million, with rental margins at 51%, slightly down from 51.8% in the previous year [18][22] - Sales of rental equipment declined by 11.9% year-over-year to $34.9 million, reflecting a strategic alignment with fleet management [49] - The average fleet age was 40 months, compared to the industry average of 48.1 months, indicating a relatively young fleet [26] Market Data and Key Metrics Changes - Physical fleet utilization averaged 66.4%, down 290 basis points year-over-year but improved by 280 basis points sequentially from the first quarter of 2024 [10][22] - Rental rates improved by 1.9% year-over-year but declined by 0.1% sequentially [10][22] - The company reported a liquidity position of $459 million, with excess availability under the ABL facility at approximately $1.7 billion [27] Company Strategy and Development Direction - The company is focused on expanding its branch network, having opened 15 new locations since the close of the second quarter of 2023, contributing to a 45% increase in branch count over the last three years [20][12] - The strategy includes targeting mega projects, which represent a stable demand base, and leveraging infrastructure spending for growth [11][12] - The company aims to maintain a disciplined approach to capital expenditures, with a revised range of $350 million to $400 million for 2024 [20][105] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the construction market, noting a transition to a more normalized growth environment compared to the previous years of exceptional growth [46] - The company anticipates continued pressure on EBITDA flow-through margins in the latter half of 2024 due to moderating rental rates and lower physical utilization [82] - Management remains confident in the growth prospects for 2025, contingent on interest rate movements [81] Other Important Information - SG&A expenses increased by 12.7% year-over-year to $111.8 million, primarily due to branch expansion and related costs [25] - The company paid a regular quarterly dividend of $0.275 per share in the second quarter of 2024, with intentions to continue this practice [27] Q&A Session Summary Question: What is the outlook for EBITDA flow-through for the remainder of the year? - Management indicated that while there is expected pressure on EBITDA flow-through margins, they remain optimistic about the ongoing participation in mega projects [36][82] Question: How does the company view the impact of inflation on fleet growth versus equipment revenue growth? - Management acknowledged an inflationary headwind but emphasized that it is minimal compared to overall utilization challenges [58] Question: What is the company's perspective on the softness in local accounts and potential rental rate declines? - Management does not anticipate declines in rental rates for small and medium-sized projects, attributing any rate changes to the increasing focus on mega projects [59] Question: How does the company plan to manage fleet movement to optimize market exposure? - Management confirmed that they are actively moving fleet from lower-demand areas to capitalize on opportunities in mega projects, a standard practice in fleet management [70] Question: What is the current status of the infrastructure spending cycle? - Management believes the industry is in the early stages of a multi-year infrastructure spending opportunity, with increasing project activity [102]

FORM 10-Q For the transition period from to Smaller Reporting Company ☐ Emerging Growth Company ☐ Item 1. Financial Statements: 5 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 5 Condensed Consolidated Statements of Income (Unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Six Months Ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudite ...

Rental Fleet Selling, General and Administrative Expenses Exhibit 99.1 News Release SECOND QUARTER 2024 SUMMARY WITH A COMPARISON TO SECOND QUARTER 2023 We use EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin in our business operations to, among other things, evaluate the performance of our business, develop budgets and measure our performance against those budgets. We also believe that analysts and investors use EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin as supplemental measures to evaluate a com ...

H&E Equipment (HEES) came out with quarterly earnings of $0.91 per share, missing the Zacks Consensus Estimate of $1 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -9%. A quarter ago, it was expected that this construction and industrial equipment service provider would post earnings of $0.73 per share when it actually produced earnings of $0.71, delivering a surprise of -2.74%. ...

BATON ROUGE, La., July 30, 2024 (GLOBE NEWSWIRE) -- H&E Equipment Services, Inc. (NASDAQ: HEES) ("H&E", the "Company") today reported financial results for the second quarter ended June 30, 2024, including further expansion of its branch network which now extends to 31 states. SECOND QUARTER 2024 SUMMARY WITH A COMPARISON TO SECOND QUARTER 2023 Revenues increased 4.5% to $376.3 million compared to $360.2 million. Net income was $33.3 million compared to $41.2 million. The effective income tax rate was 27.8% ...

H&E Equipment is part of the Zacks Manufacturing - Construction and Mining industry. Caterpillar (CAT) , another stock in the same industry, closed the last trading session 4.3% higher at $360.58. CAT has returned 7.3% in the past month. For Caterpillar, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $5.58. This represents a change of +0.5% from what the company reported a year ago. Caterpillar currently has a Zacks Rank of #3 (Hold). H&E Equipment (HEES) sh ...

BATON ROUGE, La., May 16, 2024 (GLOBE NEWSWIRE) -- H&E Equipment Services, Inc. (NASDAQ:HEES) today announced that its Board of Directors declared a regular quarterly cash dividend on May 16, 2024, to be paid to its stockholders. The Company announced a quarterly cash dividend of $0.275 per share of common stock to be paid on June 14, 2024, for stockholders of record as of the close of business on May 30, 2024. About H&E Equipment Services, Inc. Founded in 1961, H&E Equipment Services, Inc. is one of the la ...