Earnings Releases·Oct 27, 2026, 6:31 AM ET

Herc Holdings — Third Quarter 2026 Earnings Summary

Q3 2026 total revenue rose 5% to $1,364 million and net income surged to $104 million ($3.10/share) from $30 million ($0.90/share) the prior year, while nine-month net income swung to a $99 million profit from a $23 million loss.
Full-year 2026 guidance was raised for the second time this year, with equipment rental revenue now projected at $4.475–$4.550 billion, adjusted EBITDA at $2.10–$2.15 billion, and net rental capital expenditures at $1.0–$1.1 billion.
Adjusted EBITDA margin expanded to 44.2% in Q3 (up from 42.3%) and dollar utilization improved 360 basis points to 43.5%, driven by record equipment rental revenue of $1,254 million and strong performance in the large-project pipeline.
The H&E acquisition continues to generate revenue synergies and expand the fleet, though this contributed to higher direct operating expenses, increased depreciation, and nine-month interest expense rising to $380 million.
The company declared a $0.70 quarterly dividend, reported $8.0 billion in net debt with a 3.90x leverage ratio, and maintains approximately $2.1 billion in liquidity.