Herc back on track

By Joe Malone08 November 2017

US-based rental company Herc Rentals has recorded third-quarter revenues of US$413.1 million (€356.50 million), representing an increase of 14.7% year-on-year.

Herc rentals

Meanwhile, the company’s net income was US$12.8 million (€11.05 million), compared with US$3 million (€2.59 million) a year earlier – a substantial increase of 326%.

For the first nine months of the year, the company’s capital expenditure was US$234.7 million (€202.55 million), and Herc said it expected its full-year spend to be between US$355 million (€306.36 million) and US$365 million (€314.99 million).

Larry Silber, president and CEO, said, “Our strategy to expand our fleet and diversify our customer mix drove our double-digit increase in third quarter rental revenues over the prior year.

“Our third-quarter results validate our strategic initiatives and business transformation efforts, which enabled solid rental revenue growth throughout North America.”

Silber added that construction trends and leading economic indicators supported estimates of continued strength in the rental equipment industry and contributed to the confidence the company has in its business strategy.

Herc Rentals operates around 275 locations, principally in North America, and last year became a standalone company, following the separation from its car rental parent Hertz.

Latest News
Caterpillar CEO: 2022 one of company’s ‘best’ years
Fourth quarter and yearly financial results released by world’s largest OEM
Five predictions for the construction industry in 2023
Sustainability and digital transformation will be key focuses this year Autodesk Spacemaker predicts
All terrain crane disassembles roller coaster
Tadano AC 3.055-1 crane removes 600 tonnes of steel ride