Q2 25 EPS
$1.87
BEAT +6.18%
Est. $1.76
Q2 25 Revenue
$1.00B
BEAT +2.06%
Est. $981.8M
vs S&P Since Q2 25
+5.6%
BEATING MARKET
HRI +26.1% vs S&P +20.5%
Market Reaction
Did HRI Beat Earnings? Q2 2025 Results
Herc Holdings posted a headline beat in Q2 2025, with adjusted EPS of $1.87 topping the $1.76 consensus by 6.18% and revenue of $1.00 billion edging past estimates by 2.06% on 18.2% year-over-year growth, yet the quarter's defining story was the comp… Read more Herc Holdings posted a headline beat in Q2 2025, with adjusted EPS of $1.87 topping the $1.76 consensus by 6.18% and revenue of $1.00 billion edging past estimates by 2.06% on 18.2% year-over-year growth, yet the quarter's defining story was the complexity introduced by the $5.3 billion acquisition of H&E Equipment Services, which closed June 2. The transformative deal drove a GAAP net loss of $35.00 million, compared to net income of $70.00 million a year ago, weighed down by $73.00 million in transaction expenses and a $49.00 million markdown on Cinelease assets. Adjusted EBITDA climbed 13% to $406.00 million, though margin compressed 200 basis points to 40.5% as H&E legacy branch revenue fell 14.1% due to pre-close disruption. Looking ahead, management guided full-year equipment rental revenue to $3.70 billion to $3.90 billion and adjusted EBITDA to $1.80 billion to $1.90 billion, reflecting near-term integration drag offset by mega project strength and specialty solutions growth.
Key Takeaways
- • H&E Equipment Services acquisition closed June 2, 2025, adding 162 branches
- • 14% growth in equipment rental revenue driven by second-half 2024 acquisitions and H&E June results
- • National account revenue benefiting from mega project activity
- • Herc legacy branches (excluding Cinelease) grew 4% YoY driven by government, infrastructure, and MRO
- • H&E legacy branches declined 14.1% YoY due to pre-close dis-synergies
- • Continued moderation in interest-rate-sensitive commercial sector
- • Cinelease studio entertainment business continued decline due to industry softness
- • SG&A improved as percent of rental revenue from initial H&E corporate overhead cost synergies
HRI YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
HRI Revenue by Segment
With YoY comparisons, source: SEC Filings
“The second quarter marked an important milestone for our company. On June 2nd, we completed the transaction to bring Herc Rentals and H&E Equipment Services together. This acquisition, the largest in the industry, will accelerate our strategy to deliver market leading growth and superior value creation by providing geographic and customer diversification, a substantially expanded footprint in key regions with economies of scale, and a larger fleet to strengthen our position as a premier rental company in North America.”
— Larry Silber, Q2 2025 Earnings Press Release
HRI Earnings Trends
HRI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HRI EPS Trend
Earnings per share: estimate vs actual
HRI Revenue Trend
Quarterly revenue: estimate vs actual
HRI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.73 | $1.43 | +95.01% | $1.20B | +6.09% |
| Q1 26 BEAT | $-0.21 | $0.21 | +201.20% | $1.14B | +7.08% |
| Q4 25 BEAT FY | $1.87 | $2.07 | +10.96% | $1.21B | -3.48% |
| FY Full Year | — | $7.61 | — | $4.38B | — |
| Q3 25 MISS | $2.31 | $2.22 | -4.10% | $1.30B | +1.03% |
| Q2 25 BEAT | $1.76 | $1.87 | +6.18% | $1.00B | +2.06% |