H&E Equipment (HEES) Q2 Earnings and Revenues Miss Estimates

Company Performance - H&E Equipment reported quarterly earnings of $0.91 per share, missing the Zacks Consensus Estimate of $1 per share, and down from $1.14 per share a year ago, representing an earnings surprise of -9% [1] - The company posted revenues of $376.28 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.19%, compared to year-ago revenues of $360.23 million [2] - Over the last four quarters, H&E Equipment has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Market Comparison - H&E Equipment shares have added about 1.2% since the beginning of the year, while the S&P 500 has gained 14.5% [3] - The current consensus EPS estimate for the coming quarter is $1.28 on revenues of $416.85 million, and for the current fiscal year, it is $4.13 on revenues of $1.58 billion [7] Industry Outlook - The Manufacturing - Construction and Mining industry, to which H&E Equipment belongs, is currently in the bottom 19% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact H&E Equipment's stock performance [5][6]