H&E Equipment Services Q1 Income And Revenues Jump, Beat View

(RTTNews) - Louisiana-headquartered equipment services company H&E Equipment Services, Inc. (HEES) on Thursday announced higher revenues and earnings in the first quarter ended March 31, 2023. Both earnings and revenues topped estimates.

Net income increased 57.5% to $25.7 million or $0.71 per share as compared to $16.3 million or $0.45 per share in the first quarter of 2022.

6 analysts polled by Thomson Reuters were expecting the company to report earnings of $0.64 per share. Analysts typically exclude one-time items.

Revenues increased 18.4% to $322.5 million, from $272.5 million in the first quarter of 2022.

6 analysts polled by Thomson Reuters was expecting the company to report revenues of $307.11 million.

Shares of H&E Equipment Services are currently trading in pre-market at $41.36, unchanged from the previous close.