This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

H&E Equipment Services Reports Fourth Quarter 2011 And Full Year 2011 Results


EBITDA for the fourth quarter of 2011 increased $16.5 million to $43.4 million from $26.9 million in the fourth quarter of 2010. EBITDA as a percentage of revenues was 20.0% compared with 15.4% in the fourth quarter of 2010.



Total revenues increased 25.5% to $720.6 million from $574.2 million in 2010. Equipment rental revenues increased 28.1% to $228.0 million compared with $178.0 million in 2010. New equipment sales increased 31.6% to $220.2 million from $167.3 million in 2010. Used equipment sales increased 37.0% to $85.3 million compared to $62.3 million in 2010. Parts sales increased 9.0% to $94.5 million from $86.7 million in 2010. Service revenues increased 8.7% to $54.0 million compared with $49.6 million a year ago.

Gross Profit

Gross profit increased 41.8% to $192.7 million from $135.9 million in 2010. Gross margin was 26.7% for 2011 as compared to 23.7% for 2010. This increase in gross margin is primarily due to higher rental and other gross margins.

On a segment basis, gross margin on rentals increased to 41.5% from 33.2% in 2010 primarily due to higher average time utilization and increased average rental rates. On average, 2011 rental rates increased 5.2% as compared to 2010. In 2011, time utilization (based on units available for rent) increased to 66.2% from 57.4% a year ago. In 2011, time utilization (based on original equipment cost) increased to 69.7% compared to 60.5% last year.

Gross margins on new equipment sales were 10.9%, up from 9.9% in 2010. Gross margins on used equipment sales increased to 23.8% from 22.5%. Gross margin on parts sales increased to 26.8% from 26.3%. Gross margins on service revenues were 61.0% compared to 62.2% in 2010.

4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,949.59 -85.34 -0.47%
S&P 500 2,097.29 -3.11 -0.15%
NASDAQ 5,014.1020 +19.50 0.39%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs