Why did HRI outperform forecasts in 2024?

Herc Holdings (HRI) outperformed forecasts in 2024 primarily due to robust revenue growth and strong performance in its core business segments, despite facing challenging market conditions:

1. **Record Equipment Rental Revenue and Total Revenues**: Herc Holdings achieved record equipment rental revenue of $839 million, marking a 12% increase year-over-year. The company's total revenues reached $951 million, reflecting a 14.3% year-over-year growth.
2. **Revenue Growth Amid Market Challenges**: The growth in revenue was notable considering the challenging market conditions. This indicates effective strategic execution and operational efficiency on the part of Herc Holdings.
3. **Increase in Rental Pricing**: The company reported a 2.1% increase in rental pricing year-over-year, which contributed to the overall revenue growth.
4. **Adjusted Earnings Performance**: Herc Holdings reported an adjusted EPS of $12.88 per share, marking a 5% increase over the previous year. This suggests strong profitability and financial health, which could have influenced investor confidence and stock performance.

These factors, combined with effective management and strategic positioning, enabled Herc Holdings to surpass market expectations and achieve robust financial results in 2024.