Herc Holdings reports Q4 EPS $3.20, consensus $3.47

Reports Q4 revenue $831M, consensus $860.34M. “We closed out 2023 with positive operating momentum, contributing to another year of double-digit revenue and adjusted EBITDA growth. Inflationary pressures were successfully managed through revenue initiatives, and we maintained cost discipline while continuing to invest in our business,” said CEO Larry Silber. “For 2024, we expect to deliver 7-10% organic rental-revenue growth and 6-9% higher adjusted EBITDA year over year, outpacing industry growth forecasts and driving incremental margin expansion as we enhance asset efficiency for greater operating leverage and roll out our new E3 Operating System. Our guidance excludes our Cinelease studio entertainment business, which is currently being held for sale. We see continued market strength and remain confident that our diligent focus on our strategic priorities – including investing in our classic and specialty fleet, expanding our urban-market presence through greenfield locations and strategic acquisitions, enhancing our industry-leading digital offering, and delivering an exceptional customer experience – will improve performance in the near term and deliver value creation over the long term.”