H&E Equipment Services is a leading provider of heavy equipment rental and sales, catering primarily to the construction, industrial, and governmental sectors. The company offers a diverse inventory of equipment, ranging from earthmoving machinery to aerial work platforms, and provides comprehensive maintenance and repair services to ensure optimal performance for its clients. With a focus on safety and efficiency, H&E Equipment Services supports its customers through a network of locations across the United States, delivering solutions that meet the demands of various projects and operational needs.
Let’s dig into the relative performance of H&E Equipment Services (NASDAQ:HEES) and its peers as we unravel the now-completed Q3 specialty equipment distributors earnings season.
Wrapping up Q3 earnings, we look at the numbers and key takeaways for the specialty equipment distributors stocks, including Custom Truck One Source (NYSE:CTOS) and its peers.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the specialty equipment distributors industry, including Karat Packaging (NASDAQ:KRT) and its peers.
Shares of machinery provider H&E (NASDAQ:HEES) fell 9.8% in the morning session after the company reported underwhelming third-quarter earnings results. Its EPS missed, and its revenue fell short of Wall Street's estimates.
H&E Equipment Services, Inc.is a U.S. rental equipment giant that’s experiencing a wave of negative earnings revision as the economic environment changes.
Machinery provider H&E (NASDAQ:HEES) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 4% year on year to $384.9 million. Its GAAP profit of $0.85 per share was 12.7% below analysts’ consensus estimates.
HEES is coming under some pressure amid a “transitioning business environment.” H&E Equipment fell short of our bottom lines estimate on April 30 and provided downbeat earnings guidance that helps it grab a Zacks Rank #5 (Strong Sell) at the moment.
Disappointing blue-chip earnings and a hotter-than-expected employment cost index for March are pressuring stocks ahead of the Federal Reserve's interest rate decision tomorrow.
