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 ...

Core Viewpoint - H&E Equipment Services, Inc. has decided not to declare a regular quarterly cash dividend for June 2025 due to ongoing progress with its merger with Herc Holdings, Inc., expected to close in early June 2025 [1] Company Overview - H&E Equipment Services, Inc. is one of the largest rental equipment companies in the United States, founded in 1961 [2] - The company's fleet includes aerial work platforms, earthmoving, material handling, and other general and specialty lines [2] - H&E serves diverse end markets across high-growth geographies with branches throughout various regions including the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest, and Mid-Atlantic [2]

Financial Performance - Total revenues for the first quarter of 2025 were $319.5 million, a decline of 14.0% compared to $371.4 million in the first quarter of 2024 [6][13] - Total equipment rental revenues decreased to $274.0 million, down 7.2% from $295.3 million in the same quarter of 2024 [6][34] - The company reported a net loss of $6.2 million, or $0.17 per diluted share, compared to a net income of $25.9 million, or $0.71 per diluted share, in the first quarter of 2024 [13][26] Gross Profit and Margins - Gross profit for the first quarter of 2025 was $123.6 million, a decrease of 25.0% from $164.9 million in the first quarter of 2024 [7][14] - Total gross margin declined to 38.7% in the first quarter of 2025, down from 44.4% in the same quarter of 2024 [7][8] - Equipment rental gross margins were 38.2% compared to 43.3% in the first quarter of 2024 [7][34] Rental Fleet and Utilization - The original equipment cost of the rental fleet was approximately $2.9 billion, an increase of 3.8% compared to the end of the first quarter of 2024 [9][29] - Average time utilization based on original equipment cost was 60.3%, down from 63.6% in the first quarter of 2024 [7][8] - Dollar utilization was 33.1% compared to 37.0% in the first quarter of 2024 [9] Expenses and Adjusted Metrics - Selling, General, and Administrative (SG&A) expenses were $111.6 million, a decrease of 2.4% from $114.3 million in the first quarter of 2024 [10] - Adjusted EBITDA for the first quarter of 2025 totaled $131.2 million, a decrease of 18.9% compared to $161.7 million in the same quarter of 2024 [14][33] - Adjusted net income, excluding transaction expenses, was $1.2 million compared to net income of $25.9 million in the first quarter of 2024 [13][31] Strategic Developments - The company is pursuing a branch expansion strategy, with four openings in the first quarter and one in the second quarter of 2025 [3] - The planned merger with Herc Rentals is expected to enhance operational resiliency and is anticipated to close in mid-2025 [4][11]