Priti Ramgarhia- April 23, 2021, 10:07 AM EDT SHARE ON:
Herc Holdingsâs 1Q results beat analystsâ expectations. Record adjusted EBITDA margins of 40.7% and strong revenues from the ProSolutions and entertainment rental businesses fueled this outperformance.
Herc Holdingsâs (
HRI) 1Q adjusted earnings of $1.10 per share came in well ahead of analystsâ expectations of $0.25 per share. Total revenues climbed 4% to $453.8 million and surpassed the consensus estimate of $417.23 million.
The companyâs Equipment rental revenue was $400.4 million, up 3.6% year-over-year, while pricing decreased 0.3% compared to the year-ago period. Additionally, adjusted EBITDA jumped 25% to $184.6 million. Net rental equipment capital expenditures came in at $50.6 million. (See Herc Holdings stock analysis on TipRanks)