EBITDA for the third quarter of 2011 increased 65.2% to $40.4 million compared to $24.5 million a year ago. EBITDA, as a percentage of revenues, was 21.9% compared to 15.9% a year ago.
Non-GAAP Financial Measures
This press release contains certain Non-GAAP measures (EBITDA). Please refer to our Current Report on Form 8-K for a description of our use of these measures. EBITDA, as calculated by the Company, is not necessarily comparable to similarly titled measures reported by other companies. Additionally, these Non-GAAP measures are not measurements of financial performance or liquidity under GAAP and should not be considered as alternatives to the Company’s other financial information determined under GAAP.Conference Call The Company’s management will hold a conference call to discuss third quarter results today, November 3, 2011, at 10:00 a.m. (Eastern Time). To listen to the call, participants should dial 719-457-2705 approximately 10 minutes prior to the start of the call. A telephonic replay will be available after 12:00 p.m. (Eastern Time) on November 3, 2011, and will continue through November 13, 2011, by dialing 719-457-0820 and entering confirmation code 4289131. The live broadcast of the Company’s quarterly conference call will be available online at www.he-equipment.com or www.earnings.com on November 3, 2011, beginning at 10:00 a.m. (Eastern Time) and will continue to be available for 30 days. Related presentation materials will be posted to the “Investor Relations” section of the Company’s web site at www.he-equipment.com prior to the call. The presentation materials will be in Adobe Acrobat format. About H&E Equipment Services, Inc. The Company is one of the largest integrated equipment services companies in the United States with 65 full-service facilities throughout the West Coast, Intermountain, Southwest, Gulf Coast, Mid-Atlantic and Southeast regions of the United States. The Company is focused on heavy construction and industrial equipment and rents, sells and provides parts and service support for four core categories of specialized equipment: (1) hi-lift or aerial platform equipment; (2) cranes; (3) earthmoving equipment; and (4) industrial lift trucks. By providing equipment rental, sales, and on-site parts, repair and maintenance functions under one roof, the Company is a one-stop provider for its customers’ varied equipment needs. This full service approach provides the Company with multiple points of customer contact, enabling it to maintain a high quality rental fleet, as well as an effective distribution channel for fleet disposal and provides cross-selling opportunities among its new and used equipment sales, rental, parts sales and service operations.