BUZZ-Herc Holdings shares tumble after profit miss

Reuters

Apr 22, 2025

BUZZ-Herc Holdings shares tumble after profit miss

** Shares in Herc Holdings Inc HRI.N down 10.6% after quarterly earnings missed expectations

** The equipment rental co's Q1 EPS of $1.30 compares with Street consensus of $2.23 while its rev of $861 mln was ahead of consensus expectation for $849.25 mln according to LSEG

** Co says 2025 landscape mixed with national business growing, "fueled by federal and private funding for large construction projects like data centers, manufacturing onshoring and LNG facilities" but more interest-rate sensitive projects on hold, restricting local account growth

** Affirms FY forecast for equipment rental rev growth of 4-6%, sees adj EBITDA of $1.575 bln to $1.650 bln

** Stock last at $99.70 vs median PT of $206, vs $241 month ago, according to latest data from LSEG which shows 10 analyst ratings: 2 'strong buy, 4 'buy, 3 'hold' and 1 'sell' rating

** YTD stock down ~47% after rising 27.2% in 2024 vs ~3.7% drop YTD for NYSE composite .NYA, which rose 13.3% in 2024

(Reporting By Sinéad Carew)

((sinead.carew@thomsonreuters.com; +13322191897;))

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