Herc records strong Q1

By Joe Malone21 May 2018

Herc Rentals has posted a 15%, year-on-year increase to its first-quarter rental revenues, to US$369.1 million (€314.08 million), while its group revenues were US$431.3 million (€367 million).

Herc rentals

The company said the increase to its rental revenues was driven by a strong performances in its ProSolutions and ProContractor categories. It also said a number of new customers had helped its revenues rise.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 35.7%, to US132.7 million (€112.92 million), for the first quarter, while its pricing increased 2.8% compared to same period a year earlier.

Larry Silber, president and CEO, said, “Our strong start to 2018 is evidence that our strategy is working. Our first quarter growth in rental revenue of 15.1% reflects the positive impact of our strategic initiatives in driving volume with average OEC fleet on rent increasing 7.1%.

“Our focus on urban markets and the continued improvement in fleet diversification and mix contributed to the strong year-over-year results. Our customer-focused initiatives have helped increase our business with current customers and supported growth in new local accounts in the quarter.”

Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Long Reads
Post-pandemic demand lengthens delivery times for construction equipment
Government stimulus measures following the global pandemic have led to a surge in demand for construction equipment
Technology paves the way for driving 3D development
What is 3D modelling and what is it used for? Discover more at SC&RA Workshop
PREVIEW: SC&RA Crane & Rigging Workshop
The 2021 Crane & Rigging Workshop will be held September 14-16 at the Hyatt Regency Chicago, USA
Alex Dahm Editor, International Cranes and Specialized Transport Tel: +44(0) 1892 786 206 E-mail: alex.dahm@khl.com
Mike Posener Sales Manager Tel: +353 860 431 219 E-mail: mike.posener@khl.com