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Herc Holdings Inc HRI Stock Quote

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Herc Reports Solid Third-Quarter Results, Showing Rental Demand Remains Strong

Dawit Woldemariam Equity Analyst

Analyst Note

| Dawit Woldemariam |

Herc posted another strong quarter of results, thanks to continued strength in rental demand. The industry has been lifted by tight supply in the equipment market over the past year. The heavy equipment industry has been hampered by the component shortage, leading to a shortage of new equipment. Heavy equipment manufacturers have had machinery sit on factory floors waiting for chips to be put in. As a result, contractors have increasingly turned to rental equipment companies like Herc to get the equipment they need to complete jobs.

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Company Profile HRI

Business Description

Herc Holdings is an equipment rental company that was spun out of Hertz Global in 2016. It is currently the third-largest equipment rental company (3% market share) in North America, after United Rentals and Sunbelt Rentals, with a fleet size of $5.4 billion. It serves commercial and residential construction customers, the environmental sector, industrial entities, and entertainment production companies. During much of its 50-year-plus history, the company has rented equipment such as aerial lifts to its customers for intermittent use. More recently, it has broadened its catalog to include a host of specialty items. Separately, Herc Holdings’ strategy now incorporates long-term rentals to industrial customers where Herc maintains its own staff at the customer site.

27500 Riverview Center Boulevard
Bonita Springs, FL, 34134
T +1 239 301-1000
Industry Rental & Leasing Services
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 5,600