Herc Holdings Shares Surge 35% Following Q3 Earnings Beat and Raised Guidance
Herc Holdings (HRI) saw its stock price jump 35.8% this week after reporting third-quarter adjusted earnings of $3.91 per share, significantly outperforming Wall Street's estimate of $2.92. The company reported total revenue of $1.36 billion, a 4.6% year-over-year increase, driven by record equipment rental revenue of $1.25 billion and improved dollar utilization. Bolstered by demand from large infrastructure, energy, and data center projects, management raised its full-year 2026 guidance for both equipment rental revenue and adjusted EBITDA. While the company's integration of H&E Equipment Services has enhanced operating scale, investors remain mindful of a heavy debt load totaling $9.6 billion against $66 million in cash.
Topics: earnings report equipment rental guidance increase revenue growth