Nov 24, 2025 4:17 PM Eastern Standard Time Herc Holdings Inc. Announces Promotion of Aaron Birnbaum to President Share BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Herc Holdings, Inc. (NYSE: HRI) ("Herc Holdings†or "the Company†), one of North America's leading equipment rental suppliers operating through Herc Rentals Inc., today announced that Aaron Birnbaum, most recently senior vice president and chief operating officer, has been promoted to president, effective Jan. 1, 2026. In his expanded role, Birnbaum w ...

BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Herc Holdings, Inc. (NYSE: HRI) ("Herc Holdings†or "the Company†), one of North America's leading equipment rental suppliers operating through Herc Rentals Inc., today announced the election of two new independent directors: John Olin, executive vice president and chief financial officer at Westinghouse Air Brake Technologies Corporation, and Patrick Shannon, former senior vice president and chief financial officer at Allegion plc. Their elections to the. ...

STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) ("URI†) today announced that its subsidiary, United Rentals (North America), Inc. ("URNA†), has priced an offering of $1.5 billion principal amount of 5.375% Senior Notes due 2033 (the "Notes†) in a private offering. URNA's obligations under the Notes will be guaranteed on a senior unsecured basis by URI and certain of URNA's domestic subsidiaries. Aggregate net proceeds from the sale of the Notes are expected to be approximatel. ...

With a market cap of $50.9 billion, United Rentals, Inc. (URI) is a leading equipment rental company operating through its General Rentals and Specialty segments across the United States, Canada, Europe, Australia, and New Zealand. The company provides a wide range of construction and industrial equipment rentals, sales, and related services to contractors, industrial clients, municipalities, and homeowners. Shares of the Stamford, Connecticut-based company have lagged behind the broader market over the p ...

Core Viewpoint - Custom Truck One Source (NYSE: CTOS) experienced a significant decline in stock value, dropping nearly 11% on a day when the S&P 500 index rose by 1.2% [1] Financial Performance - The company reported total revenue of $482 million for the third quarter, reflecting an 8% year-over-year growth [2] - The net loss narrowed to $5.8 million ($0.03 per share) from $17.4 million in the same quarter of the previous year [2] - Custom Truck missed consensus analyst estimates, which projected revenue of over $492 million and an adjusted net loss of $0.02 per share [3][6] Future Outlook - Management expressed optimism about future growth, highlighting opportunities in data center and electrification investments, as well as utility grid upgrades [4] - For the entirety of 2025, the company is guiding for revenue between $1.97 billion and $2.06 billion, significantly above the $1.8 billion reported in 2024 [4] - Expected EBITDA for 2025 is projected to be between $370 million and $390 million, with no estimates provided for net income [4]

Financial Data and Key Metrics Changes - For Q3 2025, equipment rental revenue increased approximately 30% year-over-year, driven by the acquisition of H&E Equipment Services Inc. and strong contributions from mega projects and specialty solutions [23] - Adjusted EBITDA rose 24% compared to the previous year's third quarter, benefiting from higher equipment rental revenue and used equipment sales [23] - Net income for the third quarter included $38 million of transaction costs related to the acquisition, with adjusted net income at $74 million [25] Business Line Data and Key Metrics Changes - Local accounts represented 52% of rental revenue, down from 53% a year ago on a pro forma basis, while national accounts continue to show robust private funding for large-scale projects [14] - The company is focusing on optimizing its fleet management and has made significant progress in disposing of underutilized and aged equipment [19][20] Market Data and Key Metrics Changes - The industrial spending forecast indicates strong capital and maintenance spending through the end of the decade, with non-residential construction starts in 2025 estimated at $467 billion, a 4% increase year-over-year [16] - The mega project pipeline is projected to exceed $650 billion for 2025, indicating significant growth opportunities in the construction sector [16][17] Company Strategy and Development Direction - The company is prioritizing the integration of H&E Equipment Services Inc. and has paused other M&A initiatives to focus on achieving cost and revenue synergies [10] - Plans include consolidating general rental branches and expanding specialty equipment locations, aiming for a 25% increase in specialty network next year [9][11] Management's Comments on Operating Environment and Future Outlook - Management noted that while local market growth is limited due to high interest rates, robust activity in mega projects continues to drive demand [4][14] - The company remains confident in its ability to deliver full value from the acquisition and achieve long-term growth strategies [10][12] Other Important Information - The company completed a full systems integration in just 90 days, significantly faster than the typical timeline for similar-sized companies [6] - The integration allows for real-time visibility into performance metrics and operational KPIs, enhancing decision-making capabilities [7][8] Q&A Session Summary Question: What is the status of the fleet right-sizing process? - The heavy lifting was completed in Q3, with more work expected in Q4, aiming to close this part of the process by the end of the year [31][33] Question: How does the mix of national accounts impact margins? - Management does not expect significant margin dilution from national accounts or mega projects, as these projects typically involve minimal movement and higher volumes of specialty products [35][36] Question: Can you clarify the consolidation of general rental locations? - The strategy involves opening specialty businesses within general rental branches rather than closing them, with plans for 50 new specialty locations [38] Question: Are there updates on cost and revenue synergies? - Cost synergy targets are evolving, with ongoing efficiency reviews now that the companies are on the same platform [40] Question: How is customer attrition being managed post-acquisition? - Customer attrition has stabilized, and efforts are being made to engage with former H&E Equipment Services Inc. customers to regain business [44][61]

Scaling for Sustainable Growth Q3 2025 EARNINGS CONFERENCE CALL October 28, 2025 Herc Rentals Team and Agenda President & Chief Executive Officer Q&A Larry Silber Aaron Birnbaum Senior Vice President & Chief Operating Officer Mark Humphrey Senior Vice President & Chief Financial Officer Leslie Hunziker Senior Vice President Investor Relations, Communications & Sustainability Agenda Safe Harbor Q3 2025 Overview Q3 Operations Review Q3 Financial Review 2025 Outlook Herc Holdings Inc. NYSE: HRI Q3 2025 2 Safe ...

Core Insights - Herc Holdings reported a strong third quarter for 2025, with total revenues of $1,304 million, a 35% increase from $965 million in the prior year, driven by a 30% rise in equipment rental revenue [6][24] - The company completed the integration of H&E Equipment Services, enhancing operational efficiencies and positioning for long-term market share expansion [2][3] - Adjusted EBITDA for the quarter was $551 million, up 24% year-over-year, with an adjusted EBITDA margin of 42% [6][30] Financial Performance - Equipment rental revenue reached $1,122 million, a 30% increase compared to the previous year [6][24] - Direct operating expenses were $467 million, representing 41.6% of equipment rental revenue, up from 38.6% in the prior-year period [6][8] - Net income for the quarter was $30 million, down from $122 million in the prior-year period, while adjusted net income decreased 40% to $74 million [6][26] Operational Highlights - The company successfully completed the IT integration of acquired branches, allowing for unified operations across various platforms [3] - Dollar utilization was reported at 39.9%, down from 42.2% in the prior-year period, primarily due to lower utilization of the acquired fleet [6][8] - The company opened 17 new locations during the nine months ended September 30, 2025, contributing to its growth strategy [15] Strategic Initiatives - Herc Holdings reaffirmed its full-year 2025 guidance for equipment rental revenue and adjusted EBITDA, excluding the impact of the Cinelease divestiture [13][16] - The company completed the sale of its Cinelease studio entertainment business for $100 million, using proceeds to reduce debt [12][14] - The company aims to capture a larger share of the anticipated increase in construction spending in 2025 through fleet investment and optimization [16]

Core Insights - United Rentals, Inc. (URI) experienced a 5.2% decline in share price after the release of Q3 2025 results, with earnings per share (EPS) missing estimates while revenues exceeded expectations [1][10] Financial Performance - The company reported record third-quarter revenues of $4.229 billion, surpassing the consensus estimate of $4.157 billion by 1.7%, and reflecting a year-over-year growth of 5.9% [4][10] - Adjusted EPS was $11.70, missing the Zacks Consensus Estimate of $12.49 by 6.3%, and decreased 0.8% from the prior year's adjusted figure of $11.80 [4][10] - Adjusted EBITDA grew 2.2% year over year to $1.946 billion, although it fell short of the estimate of $1.98 billion, with the adjusted EBITDA margin contracting 170 basis points to 46% [9][10] Segment Performance - Equipment Rentals revenues increased 5.8% year over year to a record high of $3.665 billion, with fleet productivity up 2% [5] - General Rentals segment saw a 3.1% year-over-year revenue growth to $2.4 billion, while the rental gross margin contracted 90 basis points to 36.7% [7] - Specialty segment revenues improved 11.4% year over year to $1.265 billion, but the rental gross margin contracted 490 basis points to 45.1% due to higher depreciation expenses [8] Balance Sheet and Cash Flow - As of September 30, 2025, United Rentals had cash and cash equivalents of $512 million, up from $457 million at the end of 2024, with total liquidity at $2.452 billion [11] - Long-term debt increased to $12.6 billion from $12.23 billion at the end of 2024, with a net leverage ratio of 1.86x [11] - Net cash from operating activities improved 12.5% year over year to $3.934 billion, while free cash flow decreased 1.6% year over year to $1.192 billion [12] Future Outlook - The company raised its 2025 revenue guidance to a range of $16-$16.2 billion, up from the previous expectation of $15.8-$16.1 billion, indicating confidence in ongoing demand [14] - Adjusted EBITDA is now expected to be between $7.325 billion and $7.425 billion, an increase from the prior projection of $7.3 billion to $7.45 billion [14] - Net rental capital expenditure is anticipated to be in the range of $2.55-$2.75 billion, with net cash provided by operating activities expected to be $5-$5.4 billion [15]

Core Viewpoint - United Rentals (NYSE: URI) has shown strong performance over the past year, with a gain of approximately 17%, despite concerns regarding a slowdown in construction activity [1] Company Performance - The company has successfully shifted its focus towards specialty rentals, which has contributed to its resilience against market fears [1] Market Context - The performance of United Rentals reflects a broader trend in the industry where companies are adapting to changing market conditions and consumer demands [1]