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H&E Equipment Services (HEES)
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H&E Equipment Services Income Statement 2024-2008 | HEES
Brief overview of financial results at H&E Equipment Services
The comparison covers a five-year financial horizon. Revenue at H&E Equipment Services moved from 1.3 billion dollars in 2019 to 1.5 billion dollars in 2024. The total change was +12.5%, with a CAGR of approximately 2.4%. Revenue was effectively stagnant over the period.
The gross result shifted from 499 million dollars to 675 million dollars, or +35.3%. The cost base moved against the top-line trend and weighed on the gross result. At the margin level, the figure shifted from 37% to 44.5%. A wider margin shows that the economics of the core business improved.
EBITDA changed from 465 million dollars to 277 million dollars (−40.3%). The operating result developed less favorably than sales. The EBITDA share of revenue changed from 34.5% to 18.3%. Cost pressure reduced operating profitability.
Over the period, net income shifted from 87.2 million dollars to 123 million dollars (+41%). Net profitability strengthened faster than the top line.
Over the period, capitalization shifted from 1 billion dollars to 3.6 billion dollars (+252.6%). The market value rose well beyond the pace of financial improvement.
What the figures show
Positive developments coexist with areas of weakness. The financial profile benefits from a stronger final result and better sales economics. The most visible risks are limited revenue growth and weaker operating efficiency. The key question is whether sales can be converted into sustainable profit.
Annual Income Statement H&E Equipment Services
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
3.56 B | 1.93 B | 1.78 B | 1.61 B | 1.05 B | 1.01 B | 948 M | 1.43 B | 932 M | 411 M | 617 M | 1.06 B | 660 M | 600 M | - | - | - |
Shares |
36.3 M | 36.1 M | 35.9 M | 36.3 M | 36.1 M | 35.9 M | 35.7 M | 35.5 M | 35.4 M | 35.3 M | 35.2 M | 35 M | 34.9 M | 34.8 M | 34.7 M | 34.6 M | - |
Historical Prices |
98.1 | 53.4 | 49.5 | 44.3 | 29.1 | 31 | 18.1 | 35 | 19 | 13.3 | 20.5 | 21.5 | 10.9 | 6.29 | - | - | - |
Net Income |
123 M | 169 M | 132 M | 103 M | -32.7 M | 87.2 M | 76.6 M | 110 M | 37.2 M | 44.3 M | 55.1 M | 44.1 M | 28.8 M | 8.93 M | -25.5 M | -11.9 M | - |
Revenue |
1.52 B | 1.47 B | 1.24 B | 1.06 B | 1.01 B | 1.35 B | 1.24 B | 1.03 B | 978 M | 1.04 B | 1.09 B | 988 M | 837 M | 721 M | - | - | - |
Cost of Revenue |
841 M | 785 M | 689 M | 647 M | 650 M | 681 M | 800 M | 670 M | 643 M | 694 M | 742 M | 686 M | 580 M | 528 M | 438 M | 514 M | - |
Gross Profit |
675 M | 684 M | 555 M | 415 M | 357 M | 499 M | 439 M | 360 M | 336 M | 346 M | 348 M | 302 M | 257 M | 193 M | 136 M | 165 M | - |
Operating Income |
229 M | 277 M | 228 M | 132 M | 43.4 M | 156 M | 167 M | 138 M | 111 M | 128 M | 144 M | 115 M | 89.2 M | 40.1 M | -11.9 M | 12.6 M | - |
Interest Expense |
6.19 M | 7.38 M | 6.61 M | 53.8 M | 61.8 M | 68.3 M | 63.7 M | 55 M | 53.6 M | 54 M | 52.4 M | 51.4 M | 35.5 M | 28.7 M | 29.1 M | 31.3 M | - |
EBITDA |
277 M | 311 M | 257 M | 160 M | 72.8 M | 465 M | 397 M | 320 M | 297 M | 312 M | 308 M | 252 M | 204 M | 140 M | -11.3 M | 13.2 M | - |
Operating Expenses |
- | - | - | - | - | 311 M | 278 M | 233 M | 228 M | 220 M | 206 M | 189 M | 170 M | 153 M | - | - | - |
General and Administrative Expenses |
456 M | 405 M | 344 M | 291 M | 266 M | 311 M | 278 M | 233 M | 228 M | 220 M | 206 M | 189 M | 170 M | 153 M | 148 M | 144 M | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement H&E Equipment Services
| 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
36.4 M | 36.6 M | 36.3 M | 36.2 M | 36.2 M | 36.4 M | 36.1 M | 36.1 M | 36 M | 36.3 M | 36.5 M | 36.4 M | 36.4 M | 36.1 M | 36.3 M | 36.2 M | 36.2 M | 36.1 M | 36.1 M | 36 M | 36 M | 35.8 M | 35.9 M | 35.8 M | 35.8 M | 35.7 M | 35.7 M | 35.6 M | 35.6 M | 35.6 M | 35.5 M | 35.5 M | 35.5 M | 35.6 M | 35.4 M | 35.4 M | 35.3 M | 35.4 M | 35.3 M | 35.2 M | 35.2 M | 35.2 M | 35.2 M | 35.1 M | 35.1 M | 35.2 M | 35.1 M | 35 M | 35 M | 35.1 M | 35 M | 34.8 M | 34.8 M | 35.1 M | 34.8 M | 34.7 M | 34.7 M |
Net Income |
-6.21 M | - | 31.1 M | 33.3 M | 25.9 M | - | 48.9 M | 41.2 M | 25.7 M | - | 38.4 M | 26.3 M | 16.3 M | - | 29.5 M | 15.8 M | 4.15 M | -14.6 M | 10.1 M | 8.82 M | -37 M | 21.9 M | 28.4 M | 22.6 M | 14.2 M | 25.1 M | 21.3 M | 20.8 M | 9.48 M | 85.9 M | 8.46 M | 9.88 M | 5.39 M | 12.4 M | 11.7 M | 7.5 M | 5.57 M | 12 M | 14.8 M | 11.5 M | 6.09 M | 16.7 M | 15.3 M | 15.7 M | 7.44 M | 14.6 M | 14 M | 10.8 M | 4.78 M | 10.7 M | 3.71 M | 10.5 M | 3.96 M | 7.86 M | 4.85 M | 2.69 M | -6.47 M |
Revenue |
319 M | - | 385 M | 376 M | 371 M | - | 401 M | 360 M | 322 M | - | 324 M | 295 M | 272 M | 281 M | 275 M | 266 M | 240 M | 268 M | 252 M | 238 M | 249 M | 348 M | 353 M | 334 M | 314 M | 346 M | 322 M | 310 M | 260 M | 295 M | 259 M | 249 M | 227 M | 244 M | 245 M | 242 M | 247 M | 273 M | 277 M | 262 M | 227 M | 298 M | 275 M | 280 M | 237 M | 260 M | 270 M | 245 M | 212 M | 250 M | 205 M | 209 M | 174 M | 217 M | 184 M | 184 M | 135 M |
Cost of Revenue |
196 M | - | 213 M | 205 M | 206 M | - | 212 M | 192 M | 181 M | - | 172 M | 162 M | 161 M | - | 162 M | 204 M | 157 M | - | 164 M | 186 M | 180 M | - | 221 M | 209 M | 200 M | - | 207 M | 202 M | 168 M | - | 165 M | 162 M | 149 M | - | 157 M | 160 M | 166 M | - | 184 M | 176 M | 151 M | - | 184 M | 191 M | 164 M | - | 190 M | 170 M | 148 M | - | 138 M | 145 M | 121 M | - | 131 M | 137 M | 99.8 M |
Gross Profit |
124 M | - | 171 M | 171 M | 165 M | - | 188 M | 168 M | 141 M | - | 152 M | 132 M | 112 M | - | 114 M | 111 M | 83.4 M | - | 88 M | 92.1 M | 105 M | - | 132 M | 125 M | 114 M | - | 115 M | 108 M | 92.6 M | - | 94 M | 87.3 M | 77.7 M | - | 88.1 M | 81.7 M | 81.1 M | - | 92.8 M | 86.4 M | 76.3 M | - | 91.1 M | 89.1 M | 72.8 M | - | 80.3 M | 75.4 M | 64.5 M | - | 66.9 M | 64.2 M | 52.7 M | - | 53.7 M | 47.8 M | 35.1 M |
Operating Income |
5.84 M | - | 60.7 M | 62.8 M | 52 M | - | 79.2 M | 69.5 M | 46.7 M | - | 64 M | 50.7 M | 34.7 M | 41.6 M | 45.7 M | 29.7 M | 15.3 M | 30.1 M | 25.4 M | 20.9 M | -32.9 M | 41.3 M | 55.5 M | 47.7 M | 35.7 M | 50.9 M | 45.3 M | 43.1 M | 27.3 M | 40.3 M | 47.7 M | 28.7 M | 21.3 M | 29.9 M | 33.1 M | 25.4 M | 22.4 M | 33.5 M | 38.5 M | 33 M | 23.3 M | 41.2 M | 40 M | 37.9 M | 24.6 M | 33.8 M | 33.9 M | 28.9 M | 18.7 M | 28.5 M | 25 M | 23.5 M | 12.3 M | 17.6 M | 15.1 M | 10.3 M | -2.88 M |
Interest Expense |
1.98 M | - | 1.45 M | 18.2 M | 1.55 M | - | 3.07 M | 14.7 M | 13.7 M | - | 13.5 M | 13.5 M | 13.4 M | - | 13.4 M | 13.4 M | 13.4 M | - | 14.9 M | 15.6 M | 16 M | - | 17.3 M | 17.3 M | 16.9 M | - | 16.7 M | 15.7 M | 14.7 M | - | 15.1 M | 13.4 M | 13.2 M | - | 13.5 M | 13.4 M | 13.4 M | - | 13.5 M | 13.7 M | 13.4 M | - | 13.2 M | 12.9 M | 12.6 M | - | 13.2 M | 13.1 M | 12.3 M | - | 9.82 M | 6.97 M | 6.87 M | - | 7.22 M | 7.18 M | 7.21 M |
EBITDA |
19 M | - | - | - | 62.4 M | - | - | - | 54.7 M | - | 84.9 M | 50.7 M | 41.5 M | 41.6 M | 66.3 M | 29.7 M | 22.2 M | 30.1 M | 47.7 M | 35.7 M | -25.5 M | 41.3 M | 76.3 M | 61.3 M | 42.2 M | 50.9 M | 63.7 M | 55.2 M | 33.2 M | 40.3 M | 65.7 M | 40.8 M | 27.4 M | 29.9 M | 53.4 M | 38.8 M | 29.1 M | 33.5 M | 56.4 M | 44.6 M | 29 M | 41.2 M | 54.9 M | 37.9 M | 24.6 M | 33.8 M | 33.9 M | 28.9 M | 18.7 M | 28.5 M | 25.1 M | 23.5 M | 12.3 M | 17.6 M | 15.4 M | 10.5 M | -2.76 M |
General and Administrative Expenses |
112 M | - | 112 M | 112 M | 114 M | - | 104 M | 99.3 M | 95.3 M | - | 88.4 M | 82.7 M | 78.3 M | - | 74.4 M | 77 M | 68.1 M | - | 64.5 M | 67.9 M | 79.6 M | - | 77.3 M | 77.8 M | 78.6 M | - | 70.3 M | 69 M | 65.9 M | - | 55.2 M | 59.8 M | 57.3 M | - | 56 M | 57 M | 59.4 M | - | 54.7 M | 54.4 M | 53.5 M | - | 51.6 M | 51.9 M | 48.9 M | - | 47 M | 47.1 M | 46.3 M | - | 42.4 M | 41.4 M | 40.7 M | - | 39 M | 37.5 M | 38.1 M |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company H&E Equipment Services (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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