UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 H&E Equipment Services, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 81-0553291 (State or Other Jurisdiction of Incorporation or Organization) 7500 Pecue Lane, 70809 Baton Rouge, Louisiana (ZIP Code) (Address of Principal Executive Offices) (I.R.S. Employer Identification No.) For the quarterly period ended Septem ...

E EQUIPMENT SERVICES. Second Quarter 2020 Earnings Conference MENT SERVICES. Second Quarter 2020 Earnings Conference John Engquist EXECUTIVE CHAIRMAN OF THE BOARD Brad Barber CHIEF EXECUTIVE OFFICER AND PRESIDENT Leslie Magee CHIEF FINANCIAL OFFICER Kevin Inda VICE PRESIDENT OF INVESTOR RELATIONS August 4, 2020 Earnings Conference NASDAQ: HEES Second Quarter 2020 Earnings Conference 2 Legal Disclaimers Forward-Looking Information This presentation contains "forward-looking statements" within the meaning of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-51759 H&E Equipment Services, Inc. (Exact Name of Registrant as Specified in Its Charter) For the quarterly period ended June 30, 2020 Delaware 81-0553291 (State or Other Jurisdiction of ...

H&E Equipment Services, Inc. (NASDAQ:HEES) Q2 2020 Earnings Conference Call August 4, 2020 10:00 AM ET Company Participants Kevin Inda – Vice President of Investor Relations Brad Barber – President and Chief Executive Officer Leslie Magee – Chief Financial Officer and Secretary Conference Call Participants Ross Gilardi – Bank of America Seth Weber – RBC Capital Markets Stanley Elliott – Stifel Steven Fisher – UBS Operator Good morning, and welcome to H&E Equipment Services Second Quarter 2020 Earnings Confe ...

E EQUIPMENT SERVICES. First Quarter 2020 Earnings Conference MENT SERVICES. First Quarter 2020 Earnings Conference John Engquist EXECUTIVE CHAIRMAN OF THE BOARD Brad Barber CHIEF EXECUTIVE OFFICER AND PRESIDENT Leslie Magee CHIEF FINANCIAL OFFICER Kevin Inda VICE PRESIDENT OF INVESTOR RELATIONS May 8, 2020 Earnings Conference NASDAQ: HEES First Quarter 2020 Earnings Conference 2 Legal Disclaimers Forward-Looking Information This presentation contains "forward-looking statements" within the meaning of the fe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-51759 H&E Equipment Services, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 81-0553291 (State or Other Jurisdiction o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-51759 H&E EQUIPMENT SERVICES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 81-0553291 (State or Other Jurisd ...

PART I. FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company presents its unaudited condensed consolidated financial statements for the period ended September 30, 2019, showing increased assets, revenues, and net income, alongside significant cash flow activities [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet reflects a significant increase in total assets to **$2.07 billion**, primarily driven by the adoption of the new lease accounting standard and business acquisitions Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2019 (Unaudited) | Dec 31, 2018 | | :--- | :--- | :--- | | **Total Assets** | **$2,068,835** | **$1,727,181** | | Rental equipment, net | $1,262,663 | $1,141,498 | | Operating lease right-of-use assets, net | $161,289 | $— | | Goodwill | $143,626 | $105,843 | | **Total Liabilities** | **$1,774,917** | **$1,470,378** | | Senior unsecured notes, net | $945,369 | $944,780 | | Amounts due on senior secured credit facility | $304,131 | $170,761 | | Operating lease right-of-use liabilities | $163,855 | $— | | **Total Stockholders' Equity** | **$293,918** | **$256,803** | - The significant increase in assets and liabilities is primarily due to the adoption of the new lease accounting standard (ASC 842), which required the recognition of **$161.3 million** in operating lease right-of-use assets and **$163.9 million** in operating lease right-of-use liabilities[13](index=13&type=chunk)[40](index=40&type=chunk) [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For the nine months ended September 30, 2019, total revenues grew **12.0%** to **$1.0 billion**, and net income increased **26.6%** to **$65.3 million**, primarily from equipment rental revenues Condensed Consolidated Statements of Income Highlights (in thousands, except per share data) | Metric | Q3 2019 | Q3 2018 | YTD 2019 | YTD 2018 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | **$352,997** | **$322,141** | **$1,000,232** | **$892,987** | | Equipment rentals | $204,132 | $165,415 | $572,563 | $455,167 | | Gross Profit | $132,128 | $114,730 | $370,609 | $315,418 | | Income from Operations | $55,503 | $45,318 | $138,851 | $115,747 | | **Net Income** | **$28,431** | **$21,314** | **$65,288** | **$51,563** | | Diluted EPS | $0.79 | $0.59 | $1.81 | $1.44 | - For the nine months ended September 30, 2019, total revenues increased by **12.0%** and net income grew by **26.6%** compared to the same period in 2018, driven primarily by a significant increase in equipment rental revenues[15](index=15&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating activities generated **$207.6 million** in cash, while investing activities used **$315.2 million**, largely for acquisitions and equipment purchases Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Nine Months Ended Sep 30, 2019 | Nine Months Ended Sep 30, 2018 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$207,607** | **$138,025** | | **Net cash used in investing activities** | **($315,157)** | **($486,806)** | | Acquisition of businesses, net of cash acquired | ($106,746) | ($196,027) | | Purchases of rental equipment | ($269,150) | ($350,646) | | **Net cash provided by financing activities** | **$101,469** | **$187,991** | | Net change in cash | ($6,081) | ($160,790) | | Cash, end of period | $10,596 | $5,088 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail significant accounting policies, including the adoption of ASC 842, the acquisition of We-Rent-It, segment performance, and debt structure - The company adopted the new lease accounting standard, ASC Topic 842, on January 1, 2019, resulting in the recognition of **$162.8 million** in operating lease liabilities and **$160.6 million** in right-of-use assets upon adoption, and changes to income statement presentation for certain ancillary rental fees[34](index=34&type=chunk)[36](index=36&type=chunk)[40](index=40&type=chunk) - On February 1, 2019, the company acquired We-Rent-It (WRI) for approximately **$108.5 million**, expanding its presence in central Texas and adding **$37.8 million** in goodwill[76](index=76&type=chunk)[77](index=77&type=chunk)[78](index=78&type=chunk) Segment Revenues and Gross Profit (Nine Months Ended Sep 30, in thousands) | Segment | 2019 Revenues | 2019 Gross Profit | 2018 Revenues | 2018 Gross Profit | | :--- | :--- | :--- | :--- | :--- | | Equipment rentals | $572,563 | $258,498 | $455,167 | $195,549 | | New equipment sales | $177,709 | $21,071 | $183,265 | $20,800 | | Used equipment sales | $96,942 | $33,200 | $87,287 | $28,066 | | Parts sales | $93,798 | $25,048 | $89,916 | $24,239 | | Services revenues | $50,398 | $34,137 | $48,250 | $31,820 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a **12.0%** increase in total revenues, driven by equipment rental growth and the We-Rent-It acquisition, with strong liquidity and capital expenditures [Results of Operations](index=40&type=section&id=Results%20of%20Operations) Total revenues increased **9.6%** in Q3 2019 and **12.0%** year-to-date, primarily due to an **18.2%** rise in equipment rental revenues and improved gross profit margins Q3 2019 vs Q3 2018 Performance (in thousands) | Metric | Q3 2019 | Q3 2018 (As Adjusted) | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $352,997 | $322,141 | $30,856 | 9.6% | | Equipment Rental Revenues | $204,132 | $172,771 | $31,361 | 18.2% | | Total Gross Profit | $132,128 | $114,730 | $17,398 | 15.2% | YTD 2019 vs YTD 2018 Performance (in thousands) | Metric | YTD 2019 | YTD 2018 (As Adjusted) | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $1,000,232 | $892,987 | $107,245 | 12.0% | | Equipment Rental Revenues | $572,563 | $475,578 | $96,985 | 20.4% | | Total Gross Profit | $370,609 | $315,418 | $55,191 | 17.5% | - Key rental metrics improved in Q3 2019 vs Q3 2018: average rental rates increased by **2.4%**, and rental equipment dollar utilization rose to **37.5%** from **35.9%**[192](index=192&type=chunk)[193](index=193&type=chunk) - SG&A expenses for the nine months ended September 30, 2019, increased by **$28.5 million (13.9%)** to **$233.8 million**, primarily due to acquisitions, a larger workforce, and higher incentive compensation[240](index=240&type=chunk) [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity is supported by **$207.6 million** in operating cash flow and **$449.1 million** available under its credit facility, despite significant capital expenditures - For the nine months ended September 30, 2019, net cash from operations was **$207.6 million**, a significant increase from **$138.0 million** in the prior-year period[244](index=244&type=chunk)[245](index=245&type=chunk) - Gross rental fleet capital expenditures for the nine-month period were approximately **$307.4 million**, including non-cash transfers[258](index=258&type=chunk) - As of October 18, 2019, the company had **$449.1 million** of available borrowings under its Credit Facility, net of a **$7.7 million** outstanding letter of credit[256](index=256&type=chunk)[259](index=259&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=54&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate exposure on its variable-rate Senior Secured Credit Facility, with a **1.0%** rate increase impacting annualized interest expense by **$3.0 million** - The company is exposed to interest rate risk through its variable-rate Credit Facility, which had **$304.1 million** outstanding at September 30, 2019[267](index=267&type=chunk) - A hypothetical **1.0%** increase in interest rates on the Credit Facility would increase annualized interest expense by approximately **$3.0 million**[267](index=267&type=chunk) [Controls and Procedures](index=54&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO concluded that disclosure controls and procedures were effective as of September 30, 2019, with no material changes to internal controls during Q3 2019 - The CEO and CFO concluded that as of September 30, 2019, the company's disclosure controls and procedures were effective[269](index=269&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the third quarter of 2019[271](index=271&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=55&type=section&id=Item%201.%20Legal%20Proceedings) Management believes ongoing legal proceedings will not materially affect the company's financial position, results of operations, or liquidity - Management does not expect ongoing legal proceedings to have a material adverse effect on the company's financial condition or results[272](index=272&type=chunk) [Risk Factors](index=55&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2018 were reported - No material changes to the company's risk factors were reported as of the filing date of this Form 10-Q[274](index=274&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=55&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities or use of proceeds for the period - The company reported no unregistered sales of equity securities during the period[275](index=275&type=chunk) [Exhibits](index=56&type=section&id=Item%206.%20Exhibits) The report lists exhibits filed with the Form 10-Q, including certifications pursuant to the Sarbanes-Oxley Act of 2002 and Inline XBRL data files - Exhibits filed include CEO and CFO certifications as required by Sections 302 and 906 of the Sarbanes-Oxley Act[281](index=281&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-51759 H&E Equipment Services, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 81-0553291 (State or Other Jurisdiction o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-51759 H&E EQUIPMENT SERVICES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 81-0553291 (State or Other Jurisd ...