Herc Holdings Targets Higher Earnings From Rentals, Explores Sale Of Studio Entertainment Business



Herc Holdings Inc (NYSE:HRI) reported fourth-quarter FY23 sales growth of 6% year-on-year to $831 million, missing the analyst consensus of $860.35 million.

Adjusted EPS of $3.24 missed the analyst consensus of $3.47.

Equipment rental revenue increased 4.9% Y/Y to $748 million.

Adjusted EBITDA of $382 million increased by 6% in the quarter under review with an adjusted EBITDA margin at 46.0%

Rental pricing increased 5.8% year-over-year. As of Dec. 31, 2023, the company’s total fleet was approximately $6.3 billion at OEC. The average …

Full story available on Benzinga.com


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