Herc Holdings, Inc. (HRI)

Herc Holdings completed the acquisition of H&E Equipment Services on June 2, 2025, to strengthen its position in the North American rental market. On July 31, 2025, Herc Holdings divested its Cinelease studio entertainment business for $100 million to focus on its core equipment rental business. Herc Holdings reported its Q2 2025 earnings, where EPS missed forecasts but revenue beat expectations. For Q3 2025, the company reported total revenues increased by 35% year-over-year, surpassing analyst estimates, but net income fell short of the estimated EPS, while adjusted EPS exceeded estimates. The company reaffirmed its full-year 2025 guidance for equipment rental revenue and adjusted EBITDA. The stock price as of October 17, 2025, was $125.27 per share, representing a decline of 27.19% from October 18, 2024.

Herc Holdings' business is seasonal, with lower demand for rental equipment typically observed in the winter months, particularly in the northern United States and Canada. The company experiences increased activity during the third and fourth quarters, which impacts fleet capacity and staffing levels. This seasonality is a common characteristic of the industrial equipment rental market, which is also cyclical and can be impacted by economic downturns.

Herc Holdings Inc. is a full-service equipment rental company operating primarily in North America. Founded in 1965 and spun off from The Hertz Corporation in 2016, the company is headquartered in Bonita Springs, Florida. Herc Holdings operates within the Industrials sector, offering a broad portfolio of equipment for rent to diverse industries, including construction, manufacturing, energy, and government. Its major products include aerial equipment, earthmoving equipment, and material handling equipment, supported by its ProSolutions™ services.

Herc Holdings has a significant presence across North America, with 622 company-operated branches in the United States and Canada as of June 30, 2025. Following the acquisition of H&E Equipment Services, the company now boasts 612 locations across North America and a leading presence in 11 of the top 20 rental regions. The company aims to further expand its footprint by opening new rental locations, acquiring regional players, and increasing its specialty equipment offerings, particularly focusing on high-growth markets such as renewable energy, infrastructure development, and disaster recovery. Revenue from the United States represents approximately 95.1% of its total revenue for the three months ended September 30, 2025.

Herc Holdings has focused on enhancing its market presence and operational efficiency. The integration of H&E Equipment Services has strengthened its position as a premier rental company in North America. The company has invested in digital enhancements, launching a new mobile app and upgrading its online platform. Herc Rentals published its 2025 Corporate Citizenship Report on August 11, 2025, which can contribute positively to its brand reputation. The company emphasizes its commitment to superior customer service, value-added services, and an experienced management team.

Herc Holdings Inc. has significant institutional ownership, with 676 institutional owners and shareholders holding a total of 41,424,643 shares. Approximately 56.35% of the company's stock is owned by Institutional Investors, 2.20% is owned by Insiders, and 41.45% is owned by Public Companies and Individual Investors. Major institutional shareholders include Invesco Ltd., Vanguard Group Inc, and BlackRock, Inc. Carl C. Icahn is the largest individual shareholder, owning 22.11% of the company.