H&E Equipment Services(US:HEES)2021-02-17 18:01Financial Performance - Q4 2020 - Total revenue decreased by 93% to $3156 million compared to Q4 2019's $3481 million[8,22] - Adjusted EBITDA decreased by 198% to $1016 million from $1268 million in Q4 2019[8,37,38] - Rental revenue decreased by 151% to $1496 million compared to $1763 million in Q4 2019[12,24] - Net loss was $(146) million, compared to net income of $219 million in Q4 2019[32,34] Adjusted net income was $166 million, compared to $319 million in Q4 2019[32,34] Financial Performance - Full Year 2020 - Total revenue decreased by 133% to $12 billion[54] - Rental revenue decreased by 138% to $5984 million[54] - Adjusted EBITDA decreased by 166% to $3948 million[55] - Free cash flow was $3071 million, compared to a use of free cash flow of $(67) million in 2019[57] Operational Metrics - Physical utilization increased by 160 bps sequentially to 654%[8] - Rental rates decreased by 45% compared to Q4 2019[12] - Fleet size decreased by 92% year-to-date[8,24] Market and Fleet - Oil and gas exposure remains low at 4% of total revenues[17] - Non-residential construction accounts for 64% of total revenues[19,20]