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About Herc Holdings Inc.

Herc Holdings is a heavy equipment rental company with about 270 locations primarily in North America. Its portfolio of equipment includes aerial, earthmoving, material handling, and specialty equipment such as air compressors, compaction equipment, construction-related trucks, electrical equipment, power generators, contractor tools, pumps, and lighting, studio, and production equipment. The company also generates revenues from the sale of new and used equipment and contractor supplies. The US accounts for 80% of sales. The former Hertz Global Holdings spun off its famous car rental business, Hertz, in mid-2016 and took the name Herc Holdings during that time.

Operations

Herc rents everything from small tools to heavy earth moving equipment to small contractors, large industrial customers, and other clients. It also provides repair, maintenance, and equipment management services, safety training, equipment transport, rental protection, cleaning, refueling, and labor. Some 85% of sales come from equipment rental and the rest from the sale of equipment, parts, and supplies.

Geographic Reach

Florida-based Herc's equipment rental business operates through its Herc Rental brand from 270 branches in 40 US states and seven Canadian provinces. It also operates in China, Saudi Arabia, and Qatar. 

Sales and Marketing

Herc rents equipment to construction companies in a wide variety of sectors, including commercial and residential construction, specialty, and environmental; industrial, including energy, chemicals, and manufacturing; infrastructure, such as highway and bridges, railroads, and sewer and waste disposal.

Herc's sales teams provide support services and market and application expertise. The company advertises through industry catalogs, event sponsorships, trade shows, and online. Herc's website and apps allow customers to arrange equipment rental, browse and buy used equipment, and review services. 

Financial Performance

Over the last five years (which includes two years as part of Hertz) Herc's revenue fell for two years before growing for two. In 2018 the company's sales grew 13% to $1.9 billion thanks to higher equipment rental demand from existing customers, efforts to diversify its customer base, and an improved product mix. Herc also increased efforts to offload rental equipment to reduce the average age of its equipment, contributing to a 34% increase in rental equipment sales.

Net income fell 57% to $69.1 million in 2018 due to a large income tax provision recorded in 2017, relating to US tax reform, which rescued Herc from a net loss that year. Underlying performance was Herc's strongest as an independent entity.

Herc's cash on hand fell $13.7 million during 2018, ending the year at $27.8 million. The company's operations generated $559.1 million, while its investing activities used $567.0 million and its financing used $4.2 million. Herc's main cash uses in 2018 were purchases of new equipment, non-rental capital expenditures, and long-term debt repayments. Herc supported its liquidity by drawing on its credit lines, net of repayments.

Strategy

As the US equipment-rental market is fragmented, Herc sees opportunities for it to gain market share both in the US and abroad through the acquisition of smaller players and select office openings. It is focusing adding branches in major urban markets while tailoring existing sites to suit their local markets. Speciality offering are supported by its ProSolutions and ProContractor businesses, which offer industry-specific services, such as power generation, climate control, and professional grade tools.

Herc Holdings Inc.

27500 RIVERVIEW CENTER BLVD
Bonita Springs, FL 34134-4328
Phone: 1 (239) 301-1000

Stats

Employer Type: Publicly Owned
Stock Symbol: HRI
Stock Exchange: , NYSE
SVP and COO: James B. Dressel
Chairman: Herbert L. Henkel
President, CEO, and Director: Lawrence H. Siber
Employees (This Location): 10
Employees (All Locations): 4,900

Major Office Locations

Bonita Springs, FL

Other Locations

Hueytown, AL
Madison, AL
Mobile, AL
Trinity, AL
Little Rock, AR
Springdale, AR
Gilbert, AZ
Phoenix, AZ
Tucson, AZ
Adelanto, CA
Anaheim, CA
Bakersfield, CA
Benicia, CA
Berkeley, CA
Burbank, CA
Carson, CA
Chico, CA
Corte Madera, CA
Foothill Ranch, CA
French Camp, CA
Fresno, CA
Garden Grove, CA
Indio, CA
Lancaster, CA
Livermore, CA
Los Angeles, CA
Modesto, CA
North Hollywood, CA
Oakland, CA
Pacheco, CA
Paso Robles, CA
Riverside, CA
Rohnert Park, CA
Roseville, CA
Salinas, CA
San Diego, CA
San Francisco, CA
San Jose, CA
Santa Maria, CA
Taft, CA
Ukiah, CA
Union City, CA
Ventura, CA
West Sacramento, CA
Commerce City, CO
North Haven, CT
Doral, FL
Fort Myers, FL
Jacksonville, FL
Lakeland, FL
Orlando, FL
Pensacola, FL
Pompano Beach, FL
Riviera Beach, FL
Sanford, FL
Tampa, FL
Tarpon Springs, FL
Atlanta, GA
Augusta, GA
Bogart, GA
East Point, GA
Fayetteville, GA
Macon, GA
Marietta, GA
Norcross, GA
Savannah, GA
Valdosta, GA
Winston, GA
Honolulu, HI
Kapolei, HI
Chicago, IL
Naperville, IL
Fort Wayne, IN
Indianapolis, IN
Portage, IN
Louisville, KY
Baton Rouge, LA
Bossier City, LA
Gonzales, LA
Harvey, LA
Jefferson, LA
Kenner, LA
Sulphur, LA
Boston, MA
Worcester, MA
Baltimore, MD
Forestville, MD
Frederick, MD
Scarborough, ME
Erie, MI
Grand Rapids, MI
Romulus, MI
Shakopee, MN
Joplin, MO
Kansas City, MO
Saint Louis, MO
Springfield, MO
Biloxi, MS
Richland, MS
Tupelo, MS
Apex, NC
Arden, NC
Ayden, NC
Charlotte, NC
Clayton, NC
Durham, NC
Fayetteville, NC
Greensboro, NC
Raleigh, NC
Shelby, NC
Wilmington, NC
Winston Salem, NC
Bismarck, ND
Williston, ND
Omaha, NE
East Brunswick, NJ
Fairfield, NJ
Newark, NJ
South Hackensack, NJ
Albuquerque, NM
Las Vegas, NV
Sparks, NV
Astoria, NY
Bronx, NY
Farmingdale, NY
Latham, NY
Liverpool, NY
Tonawanda, NY
Bedford Heights, OH
Cincinnati, OH
Columbus, OH
New Philadelphia, OH
Bethany, OK
Chickasha, OK
Durant, OK
Enid, OK
Lawton, OK
Newcastle, OK
Oklahoma City, OK
Ponca City, OK
Shawnee, OK
Stillwater, OK
Tulsa, OK
Coburg, OR
Keizer, OR
Portland, OR
Allentown, PA
Glenshaw, PA
Harrisburg, PA
Philadelphia, PA
Pittsburgh, PA
Charleston, SC
Columbia, SC
Greer, SC
Myrtle Beach, SC
Chattanooga, TN
Knoxville, TN
Memphis, TN
Nashville, TN
Austin, TX
Beaumont, TX
Channelview, TX
Clute, TX
Conroe, TX
Corpus Christi, TX
Dallas, TX
Deer Park, TX
Denton, TX
El Paso, TX
Fort Worth, TX
Houston, TX
La Feria, TX
Longview, TX
Midland, TX
San Antonio, TX
Texas City, TX
Orem, UT
West Valley, UT
Gainesville, VA
North Chesterfield, VA
Roanoke, VA
Virginia Beach, VA
Williston, VT
Bellevue, WA
Bellingham, WA
Burlington, WA
Everett, WA
Fife, WA
Olympia, WA
Richland, WA
Seattle, WA
Spokane Valley, WA
Yelm, WA
Oak Creek, WI
Charleston, WV
Anjou, Canada
Anzac, Canada
Barrie, Canada
Bonnyville, Canada
Brandon, Canada
Burnaby, Canada
Calgary, Canada
Cambridge, Canada
Coquitlam, Canada
Dartmouth, Canada
Edmonton, Canada
Etobicoke, Canada
Fort Mcmurray, Canada
Fort Nelson, Canada
Fort Saskatchewan, Canada
Fredericton, Canada
Goderich, Canada
Grande Prairie, Canada
Hamilton, Canada
Hinton, Canada
Kingston, Canada
London, Canada
Medicine Hat, Canada
Moncton, Canada
Oshawa, Canada
Ottawa, Canada
Peace River, Canada
Red Deer, Canada
Regina, Canada
Sainte-Rose, Canada
Saint John, Canada
Sarnia, Canada
Saskatoon, Canada
St Catharines, Canada
Surrey, Canada
Thunder Bay, Canada
Toronto, Canada
Whitecourt, Canada
Windsor, Canada
Winnipeg, Canada