Herc Holdings reports 2Q and first-half 2016 results
Herc Holdings Inc. reported financial results for the quarter ended June 30, 2016. Total revenues in the second quarter of 2016 were $380.4 million compared with $422.7 million in the same period in 2015, a decline of $42.3 million or 10 percent.
The company reported a net loss in the second quarter of 2016 of $8.0 million, or $0.28 per diluted share, compared to net income of $10.6 million, or $0.35 per diluted share, during the same period last year.
It also reported:
• Company successfully completed spin-off while continuing to execute strategy for long-term growth
• Equipment rental revenue growth in key markets largely offset weakness in upstream oil and gas markets
• Worldwide pricing increased 0.5 percent in the quarter compared with the previous year
• Company changes full year 2016 adjusted EBITDA guidance to $520 million to $560 million
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