Q4 25 EPS
$2.07
BEAT +10.96%
Est. $1.87
Q4 25 Revenue
$1.21B
MISS 3.48%
Est. $1.25B
vs S&P Since Q4 25
-8.9%
TRAILING MARKET
HRI +3.2% vs S&P +12.1%
Full Year 2025 Results
FY 25 EPS
$7.61
FY 25 Revenue
$4.38B
Market Reaction
Did HRI Beat Earnings? Q4 2025 Results
Herc Holdings delivered a mixed fourth quarter for fiscal 2025, beating earnings expectations while falling short on the top line as the weight of its transformative H&E Equipment Services acquisition reshaped nearly every line of the income statemen… Read more Herc Holdings delivered a mixed fourth quarter for fiscal 2025, beating earnings expectations while falling short on the top line as the weight of its transformative H&E Equipment Services acquisition reshaped nearly every line of the income statement. The company posted adjusted EPS of $2.07, clearing the $1.87 consensus estimate by 10.96%, but revenue of $1.21 billion trailed the $1.25 billion consensus by 3.48%, even as total sales climbed 27.1% year over year. The gap between earnings strength and revenue softness traces directly to elevated interest expense, which doubled to $134.00 million in the quarter as debt issued to fund the H&E deal weighed on reported results, while adjusted EBITDA still grew 19% to $519.00 million. Margin compression of 320 basis points, partly driven by higher auction-channel used equipment sales to optimize the acquired fleet, has drawn investor scrutiny around Herc's longer-term margin trajectory. A director's open-market share purchase near quarter-end signaled some internal confidence. Looking ahead, management guided 2026 equipment rental revenue of $4.28 billion to $4.40 billion and adjusted EBITDA of $2.00 billion to $2.10 billion, with $125.00 million in cost synergies expected to be fully realized.
Key Takeaways
- • H&E acquisition driving 27% revenue growth through expanded fleet and branch network
- • Equipment rental revenue increased 24% year-over-year in Q4
- • Adjusted EBITDA increased 19% to $519 million in Q4
- • Cost synergies tracking ahead of plan
- • Sales of rental equipment increased $51 million as acquired fleet was sold to improve mix and utilization
- • Average fleet at OEC increased 35% in Q4 compared to prior-year period
HRI YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
HRI Revenue by Segment
With YoY comparisons, source: SEC Filings
“2025 was a pivotal year for Herc Rentals. In June, we completed the largest acquisition in our industry, bringing together two high‑quality equipment rental operators to create significant long‑term strategic and financial value.”
— Larry Silber, Q4 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% |