- Herc Holdings Inc (NYSE:HRI) reported second-quarter FY22 sales growth of 30.5% year-on-year, to $640.40 million, beating the consensus of $630.14 million.
- Equipment rental revenue increased 35.1% Y/Y to $605.4 million.
- Selling, general and administrative expenses rose 31.1% Y/Y to $97.0 million.
- Pricing increased 5.5% compared to 2021.
- Adjusted EBITDA rose 36.8% Y/Y to $284.2 million, and the adjusted EBITDA margin increased 210 basis points Y/Y to 44.4%.
- Cash and equivalents totaled $52.1 million as of June 30, 2022.
- Adjusted EPS of $2.47 missed the analyst consensus of $2.64.
- Buyback: HRI revealed its plan to repurchase shares under the 2014 Share Repurchase Program, under which $395.9 million remained available as of June 30, 2022.
- Outlook: Herc narrowed its FY22 adjusted EBITDA outlook to $1.195 billion – $1.245 billion (prior view $1.175 billion – $1.245 billion).
- Price Action: HRI shares are trading lower by 0.89% at $101.40 on the last check Thursday.
Preview: Costamare’s Earnings
Costamare (NYSE:CMRE) is set to give its latest quarterly earnings report on Friday, 2023-07-28. Here’s what investors need…
