Herc’s Total and Rental Revenue Jump More than 32 Percent in First Quarter of 2026

Herc Rentals posted $1,139 million in first quarter 2026 revenue, compared to $861 million in the first quarter of 2025, a 32.3-percent year-over-year increase, propelled in large part by the additional revenue from the added footprint and fleet from the acquired H&E Equipment Services, plus an increase in volume from mega projects. Rental revenue also benefited, growing from $739 million in the year-ago quarter to $981 million in Q126, a 32.7-percent hike.

 

Sales of used equipment soared from $105 million a year ago to $138 million, a 29.9-percent boost. while sales of new equipment, parts and supplies increased 18.2 percent from $11 million to $13 million.

 

EBITDA increased from $259 million to $420 million, a 62.1-percent growth. Adjusted EBITDA grew from $338 million to $448 million, a 32.5 percent increase. Adjusted EBITDA margin was flat at 39 percent. Free cash flow of $94 million nearly doubled compared to $49 million in last year’s first quarter.

 

"The first quarter of 2026 marked a defining milestone for Herc Rentals as we successfully completed the integration of our H&E acquisition — the largest in the history of our industry — and we are already capturing the strategic benefits we anticipated: 25% more specialty locations, a stronger and deeper sales network, expanded share in local and regional accounts, and greater density in top metropolitan markets, where construction activity is most resilient,” said CEO Larry Silber. “Financial performance in the first quarter was in line with our expectations and seasonal trends. While we expect performance to build as we move through the second half of 2026, the value of this combination will be realized over our three-year synergy plan, and we are executing against that roadmap with confidence.”

 

 

"The demand environment remains constructive,” Silber added. “Local markets are stable and national account activity is strong, fueled by continued megaproject growth. In this bifurcated market, our diversification, deep customer relationships, and superior project execution are clear differentiators. While we are mindful of broader macroeconomic uncertainties, including ongoing geopolitical tensions, we remain confident in our proven playbook: driving network efficiency through scale, delivering value through our broad product mix and expert solutions, accelerating customer efficiency and safety through ongoing enhancements to our ProControl platform, maintaining a sharp focus on productivity, and deploying capital with discipline. None of this is possible without the dedication and expertise of the Herc team, and I want to thank every one of our employees for their commitment to our customers and to each other as we continue to build the premier equipment rental company in North America.”

 

Herc affirms its rental revenue guidance for 2026 in the range of $4,275 billion to $4.4 billion, as well as adjusted EBITDA of $2.0 billion to $2.1 billion. It expects net rental equipment Capex in the range of $500 million to $800 million.

 

Herc Rentals, headquartered in Bonita Springs, Fla., is No. 3 on the RER 100.