Herc Shares Fall After Company Logs 1Q Loss

Dow Jones

Apr 22

By Rob Curran

Shares of equipment-rental company Herc Holdings fell after it posted a quarterly loss and warned of uneven demand for machinery.

Herc on Tuesday said it swung to a loss of $18 million, or 63 cents a share, in the first quarter from a profit of $65 million, or $2.29 a share, a year earlier.

Depreciation expenses and direct operating costs rose sharply, overshadowing revenue growth.

Revenue rose 7% to $861 million.

In what could be a bad sign for economic activity, the company said many interest-rate sensitive infrastructure projects were still on hold.

For 2025, Herc projected equipment rental revenue growth in a range between 4% and 6%.

Adjusted earnings before interest, taxes, depreciation and amortization in a range between $1.575 billion and $1.65 billion.

Shares of Herc fell 6% to $104.98 premarket.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

April 22, 2025 08:30 ET (12:30 GMT)

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