H&E Rentals: Strong Q3 Earnings and Conference Call Announced
Tuesday, Oct 22, 2024 11:05 am ET
1min read H&E Equipment Services Inc. (HEES), operating as H&E Rentals, has announced its 2024 third quarter earnings and conference call date. The company reported a significant increase in profit for the quarter, driven by higher revenues and strong demand for rental equipment across various end-user construction markets.
The company's net income for the third quarter increased to $28.4 million or $0.79 per share from $21.3 million or $0.59 per share in the year-ago period. Revenues for the quarter grew by 9.6 percent to $353.0 million from $322.1 million a year ago, beating analysts' expectations.
The demand for rental equipment in various end-user construction markets contributed to H&E Rentals' revenue growth in Q3 2024. The company achieved a 2.4% improvement in rental rates compared to a year ago and a 40 basis points increase in physical utilization to 71.4%, which helped drive an 18.4% increase in rental revenues.
The company's strategic initiatives and cost management efforts also played a significant role in the 18.4% increase in rental revenues in Q3 2024. Brad Barber, H&E Equipment Services' chief executive officer and president, attributed the solid results to the broad-based demand for rental equipment and the company's ability to improve rates and physical utilization.
H&E Rentals will publish its results on Tuesday, October 29, 2024, before the market opens. A conference call to discuss the results is scheduled for the same day at 10:00 a.m. Eastern Time. Interested parties can join the call by dialing 844-887-9400 approximately 10 minutes before the start time. A telephonic replay will be available from 1:00 p.m. Eastern Time on October 29, 2024, until November 12, 2024, by dialing 877-344-7529 with the confirmation code 3897091.
The quarterly conference call will also be broadcast live on the company's website, www.he-equipment.com, starting at 10:00 a.m. Eastern Time on July 30, 2024, and will remain available for 30 days. Related presentation materials will be posted in the "Investor Relations" section of the website prior to the call in Adobe Acrobat format.
H&E Rentals' strong Q3 earnings demonstrate the company's resilience and growth potential in the equipment rental industry. As the demand for rental equipment continues to grow, H&E Rentals is well-positioned to capitalize on this trend and deliver value to its shareholders.
The company's net income for the third quarter increased to $28.4 million or $0.79 per share from $21.3 million or $0.59 per share in the year-ago period. Revenues for the quarter grew by 9.6 percent to $353.0 million from $322.1 million a year ago, beating analysts' expectations.
The demand for rental equipment in various end-user construction markets contributed to H&E Rentals' revenue growth in Q3 2024. The company achieved a 2.4% improvement in rental rates compared to a year ago and a 40 basis points increase in physical utilization to 71.4%, which helped drive an 18.4% increase in rental revenues.
The company's strategic initiatives and cost management efforts also played a significant role in the 18.4% increase in rental revenues in Q3 2024. Brad Barber, H&E Equipment Services' chief executive officer and president, attributed the solid results to the broad-based demand for rental equipment and the company's ability to improve rates and physical utilization.
H&E Rentals will publish its results on Tuesday, October 29, 2024, before the market opens. A conference call to discuss the results is scheduled for the same day at 10:00 a.m. Eastern Time. Interested parties can join the call by dialing 844-887-9400 approximately 10 minutes before the start time. A telephonic replay will be available from 1:00 p.m. Eastern Time on October 29, 2024, until November 12, 2024, by dialing 877-344-7529 with the confirmation code 3897091.
The quarterly conference call will also be broadcast live on the company's website, www.he-equipment.com, starting at 10:00 a.m. Eastern Time on July 30, 2024, and will remain available for 30 days. Related presentation materials will be posted in the "Investor Relations" section of the website prior to the call in Adobe Acrobat format.
H&E Rentals' strong Q3 earnings demonstrate the company's resilience and growth potential in the equipment rental industry. As the demand for rental equipment continues to grow, H&E Rentals is well-positioned to capitalize on this trend and deliver value to its shareholders.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
