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Herc Holdings Inc HRI Stock Quote

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Morningstar‘s Stock Analysis HRI

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Herc Rentals Reports Solid Second-Quarter Results As Rental Markets Remain Strong

Dawit Woldemariam Equity Analyst

Analyst Note

| Dawit Woldemariam |

Herc Rentals’ second-quarter results showed the equipment rental market continues to run at a strong pace, despite recessionary concerns in the United States. This backdrop led us to increase our fair value estimate to $129 from $123 previously. Herc grew rental revenue by 35% year on year, thanks to strong volume and price growth. The latter metric was up 5.5% year on year, as the company has been diligent in responding to inflation.

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Key Statistics HRI

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 $5.1 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 Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 5,600