Herc Holdings reported second-quarter 2026 results with total revenues of $1,204 million and adjusted EBITDA of $487 million, reflecting year‑over‑year growth. The company posted net income of $19 million (diluted EPS $0.57) and adjusted net income of $48 million (adjusted diluted EPS $1.43). Management raised full-year 2026 guidance for equipment rental revenue, adjusted EBITDA and capital expenditures to support expanding project demand.

Financial Highlights

  • Total revenues: $1,204 million for Q2 2026 (up 20% year-over-year).
  • Equipment rental revenue: $1,072 million for Q2 2026 (up 23% year-over-year).
  • Adjusted EBITDA: $487 million for Q2 2026 (up 19% year-over-year); adjusted EBITDA margin 40.4%.
  • Net income: $19 million, or $0.57 per diluted share, for Q2 2026; adjusted net income: $48 million, or $1.43 per diluted share.
  • First half 2026 free cash flow: $202 million (compared to $103 million prior year); net rental equipment capital expenditures (six months): $327 million.

Business Highlights

  • Post-acquisition integration: Completion of the H&E integration in Q1; revenue and cost synergies tracking to plan and contributing to combined comparable improvement.
  • Fleet and utilization: Average fleet at OEC increased ~20% year-over-year in Q2; dollar utilization improved to 39.3% in Q2 reflecting higher fleet efficiency and a favorable shift to higher-return fleet mix.
  • Mega projects and accounts: Growth led by national accounts and robust mega project activity with higher mix of specialty equipment rentals driving rental volume.
  • Network expansion and operations: Opened three planned greenfield locations in first half 2026 to support demand and branch density expansion for large, complex projects.
  • Capital allocation: Company increased full-year 2026 net rental equipment capex guidance to $850–$950 million and gross capex to $1.25–$1.4 billion to meet growing project pipeline.

Original SEC Filing:

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