Herc Holdings(US:HRI)2025-04-22 10:31Revenue Performance - Total revenues increased 7% to $861 million compared to $804 million in the prior-year period[7] - Equipment rental revenue for Q1 2025 was $739 million, an increase from $719 million in Q1 2024, reflecting a growth of 2.8%[34] - The company expects equipment rental revenue growth of 4% to 6% for the full year 2025, targeting $1.575 billion to $1.650 billion[13] Profitability and Loss - Reported net loss of $18 million or $0.63 per share, primarily due to H&E acquisition transaction costs[6] - Net income for Q1 2025 was a loss of $18 million, compared to a profit of $65 million in Q1 2024, representing a significant decline[31] - Adjusted earnings per diluted share for Q1 2025 were $1.30, down from $2.36 in Q1 2024, indicating a decrease of 45%[36] EBITDA and Margins - Adjusted EBITDA of $339 million was flat year-over-year, with an adjusted EBITDA margin of 39.4%[10] - Adjusted EBITDA for Q1 2025 remained stable at $339 million, the same as in Q1 2024, with an adjusted EBITDA margin of 39.4%, down from 42.2%[31] Cash Flow and Expenditures - Net cash provided by operating activities decreased to $171 million in Q1 2025 from $240 million in Q1 2024, representing a decline of 28.75%[39] - Free cash flow for Q1 2025 was $49 million, down from $92 million in Q1 2024, indicating a decrease of 46.74%[39] - Net rental equipment capital expenditures were $93 million, down from $120 million in the prior-year period[8] Debt and Financial Position - Net debt was $4.0 billion as of March 31, 2025, with net leverage of 2.5x unchanged from the prior-year period[11] - The decrease in net debt, excluding financing activities, was $38 million in Q1 2025, contrasting with an increase of $(56) million in Q1 2024[39] Asset and Liability Changes - Total assets decreased to $7,705 million in Q1 2025 from $7,877 million in Q4 2024, a reduction of 2.2%[25] - Total liabilities decreased to $6,347 million in Q1 2025 from $6,481 million in Q4 2024, a decline of 2.1%[25] Dividend and Shareholder Returns - Declared a quarterly dividend of $0.70, an increase of 5%[11] Utilization and Operational Metrics - Dollar utilization decreased to 37.6% in the first quarter compared to 39.7% in the prior-year period[7] - The company incurred transaction-related costs of $74 million in Q1 2025, significantly higher than $3 million in Q1 2024[36] - Acquisitions, net of cash acquired, were $(11) million in Q1 2025, significantly lower than $(148) million in Q1 2024, reflecting a decrease of 92.57%[39]