H&E Equipment Services Q2 Earnings Beat View

(RTTNews) - H&E Equipment Services, Inc. (HEES) on Tuesday reported net income of $15.77 million or $0.43 per share in the second quarter, higher than $8.82 million or $0.24 per share a year ago.

Revenue for the quarter increased 13.4% to $315.76 million from $278.34 million last year helped by growth in all segments.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.4 per share on revenue of $300.71 million for the quarter. analysts' estimates typically exclude special items.

"Customer inquiries addressing current equipment needs remain strong and we expect the elevated demand to persist for the foreseeable future. Key industry indices, which in some cases are near record levels, point to a continuation of project expansion into 2022, especially in the non-residential construction market. Physical utilization of our fleet remains on a favorable trend, closing August 1, 2021, at 71.9%, reflecting the increasing demand for our young rental fleet," said Brad Barber, Chief Executive Officer of H&E Equipment Services.