H&E Equipment Services Reports Fourth Quarter 2019 and Full Year 2019 Results and Announces Non-Cash Goodwill Impairment Charge
H&E Equipment Services, Inc. (HEES)
Last h&e equipment services, inc. earnings: 2/20 07:00 am
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Source: Business Wire
BATON ROUGE, La.--(BUSINESS WIRE)--H&E Equipment Services, Inc. (NASDAQ: HEES) today announced results for the fourth quarter and year ended December 31, 2019, including a $12.2 million non-cash goodwill impairment charge.FOURTH QUARTER 2019 SUMMARYRevenues increased 0.6% to $348.1 million versus $346.0 million a year ago.Included in fourth quarter 2019 net income was a $12.2 million pre-tax non-cash goodwill impairment charge. Net income decreased 12.5% to $21.9 million in the fourth quarter compared to net income of $25.1 million a year ago. Excluding the impairment charge, net income was $31.9 million, an increase of 27.2%, or $6.8 million. The effective income tax rate was 18.4% in the fourth quarter of 2019 and 27.9% in the fourth quarter of 2018.Adjusted EBITDA increased 10.7% to $126.8 million in the fourth quarter compared to $114.6 million a year ago, yielding a margin of 36.4% of revenues compared to 33.1% a year ago.Total equipment rental revenues for the fourth quarter
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HEES
Earnings
- 2/22/24 - Beat
HEES
Sec Filings
- 4/11/24 - Form 8-K
- 4/2/24 - Form ARS
- 4/2/24 - Form DEFA14A
- HEES's page on the SEC website