Exhibit 99.1

News Release

 

 

 

 

 

Contacts:

 

Leslie S. Magee

Chief Financial Officer

225-298-5261

lmagee@he-equipment.com

 

Kevin S. Inda

Vice President of Investor Relations

225-298-5318

kinda@he-equipment.com

 

H&E Equipment Services Reports Fourth Quarter 2020

and Full Year 2020 Results

 

BATON ROUGE, Louisiana -- (February 17, 2021)

-- H&E Equipment Services, Inc. (NASDAQ: HEES) today announced results for the fourth quarter and year ended December 31, 2020.  In the fourth quarter of 2020, the Company completed its successful offering of new 8-year 3.875% senior notes (the “New Notes”) and the repurchase and redemption of its previously outstanding 5.6250% senior notes (the “Old Notes”).  The Company’s operating results for this quarter include a $44.6 million non-recurring item associated with the premiums paid to repurchase and redeem the Old Notes and the write-off of unaccreted note discount, unamortized note premium and deferred transaction costs associated therewith.

 

FOURTH QUARTER 2020 SUMMARY

 

 

Revenues decreased 9.3% to $315.6 million versus $348.1 million a year ago.

 

Included in fourth quarter 2020 net income was a $44.6 million pre-tax loss on early extinguishment of debt.  Included in fourth quarter 2019 net income was a $12.2 million pre-tax non-cash goodwill impairment charge.  Net loss was $(14.6) million in the fourth quarter of 2020 compared to net income of $21.9 million a year ago.  Excluding the impact of the aforementioned items from each of the respective years, adjusted net income was $16.6 million in the fourth quarter of 2020 compared to adjusted net income of $31.9 million a year ago.  The effective income tax rate was 37.0% in the fourth quarter of 2020 and 18.4% in the fourth quarter of 2019.  

 

Adjusted EBITDA decreased 19.8% to $101.6 million in the fourth quarter of 2020 compared to $126.8 million a year ago, yielding a margin of 32.2% of revenues compared to 36.4% a year ago.  

 

Total equipment rental revenues for the fourth quarter of 2020 were $166.8 million, a decrease of $27.0 million, or 13.9%, compared to $193.8 million a year ago. Rental revenues for the fourth quarter of 2020 were $149.6 million, a decrease of approximately $26.6 million, or 15.1%, compared to $176.3 million in the fourth quarter of 2019.

 

New equipment sales decreased 10.3% to $55.1 million in the fourth quarter of 2020 compared to $61.4 million a year ago.

 

Used equipment sales increased 13.0% to $47.9 million in the fourth quarter of 2020 compared to $42.4 million a year ago.

- MORE -


The following information was filed by He Equipment Services, Inc. (HEES) on Wednesday, February 17, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate He Equipment Services, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by He Equipment Services, Inc..

Continue

Assess how He Equipment Services, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

He Equipment Services, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account