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Herc Holdings (HRI) Q3 FY2022 earnings: revenue $745 million, up 35.4% on the year

Herc Holdings Inc. (HRI) reported revenue of $745 million for Q3 FY2022, the quarter ended 30 September 2022, up 35.4% on the same quarter a year earlier. Net income was $101 million, up 39.7% on the year, and diluted earnings per share $3.36. The figures are the company's own, from the 10-Q it filed with the SEC on 20 October 2022.

Revenue$745 millionup 35.4%
Net income$101 millionup 39.7%
Diluted EPS$3.36
QuarterQ3 FY2022ended 30 September 2022

The quarter, against the one before and a year earlier

LineQ3 FY2022Q2 FY2022A year earlierChange on the year
Revenue745640n/an/a
Selling, general and administrative11297.0n/an/a
Pre-tax income13598.0n/an/a
Income tax34.025.0n/an/a
Effective tax rate25.2%25.5%n/a
Net income10173.0n/an/a
Net margin13.6%11.4%n/a
Diluted EPS$3.36$2.38n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

LineQ3 FY2022Q2 FY2022A year earlierChange on the year
Operating cash flow264216n/an/a
Capital expenditure54.214.6n/an/a
Free cash flow210201n/an/a
Free cash flow margin28.2%31.4%n/a
Cash from investing-443-526n/an/a
Cash from financing184340n/an/a
Share-based compensation8.65.1n/an/a
Buybacks53.30.0n/an/a
Dividends paid17.017.0n/an/a
Dividend per share$0.57$0.57n/an/a
Diluted shares, weighted30m30mn/an/a
Shares outstanding at period end29m30mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2022Q2 FY2022A year earlierChange on the year
Shareholders' equity1,0831,065n/an/a
Debt2,7772,518n/an/a
Operating lease liabilities504491n/an/a
Other liabilities1,3201,235n/an/a
Total liabilities and equity5,6845,310n/an/a
Goodwill379326n/an/a
Intangible assets424416n/an/a
Cash and equivalents56.952.1n/an/a
Receivables519458n/an/a
Other assets4,3044,059n/an/a
Total assets5,6845,310n/an/a

Questions

What was Herc Holdings' revenue in Q3 FY2022?

Herc Holdings (HRI) reported revenue of $745 million for Q3 FY2022, the quarter ended 30 September 2022, up 35.4% on the same quarter a year earlier.

How much did Herc Holdings earn in Q3 FY2022?

Net income for Q3 FY2022 was $101 million, up 39.7% on the year, and diluted earnings per share $3.36.

When did Herc Holdings report Q3 FY2022 results?

Herc Holdings filed its 10-Q for the quarter ended 30 September 2022 with the SEC on 20 October 2022.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022 †Q2 FY2022 †Q3 FY2022 †Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024 †Q3 FY2024 †Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue5785676407457867408029088328048489659518611,0021,3041,2091,1391,2041,364
SG&A89.889.097.0112112106111115116112117120122118127166153146155178
Pre-tax income91.467.198.013513375.010314612381.093.0160-43.0-8.0-46.038.017.0-23.024.0120
Tax rate21%13%26%25%27%11%26%23%26%20%25%24%n/an/an/a21%-41%n/a21%13%
Net income71.858.073.010197.867.076.011391.065.070.0122-46.0-18.0-35.030.024.0-24.019.0104
Net margin12%10%11%14%12%9%9%12%11%8%8%13%-5%-2%-3%2%2%-2%2%8%
Diluted EPS$2.36$1.92$2.38$3.36$3.27$2.28$2.66$3.96$3.20$2.29$2.46$4.28-$1.62-$0.63-$1.17$0.90$0.72-$0.72$0.57$3.10
Operating cash flow241143216264294235281280290240318336331171241358315277314360
Capital expenditure16.913.014.654.222.033.044.042.037.030.041.056.034.033.047.043.034.041.041.025.0
Free cash flow224130201210272202237238253210277280297138194315281236273335
Buybacksn/a0.00.053.361.944.063.00.013.00.00.00.00.0n/an/an/an/an/an/an/a
Dividends paid14.817.017.017.017.120.018.018.017.020.019.019.019.021.020.023.023.024.023.024.0
Shares outstanding30m30m30m29m29m29m28m28m28m28m28m28m28m28m33m33m33m33m33m33m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2022, filed 20 October 2022: the filing.