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Why Equipment Rental Firm Herc's Shares Are Surging Today
Herc Holdings Inc (NYSE:HRI) shares are trading higher after the company reported first-quarter FY24 sales growth of 9% year-on-year to $804 million, beating the analyst consensus estimate of $782.85 million.
The revenue climb was due to an increase in equipment rental revenue of $65 million, reflecting positive pricing of 5.1% and increased volume of 8.0%.
Total expenses for the quarter increased 8.7% to $723 million. Adjusted EBITDA increased 10%, ...