- Revenues increased 17.4% to $245.3 million versus $209.0 million a year ago.
- Net income was $10.8 million in the second quarter compared to net income of $10.5 million a year ago.
- EBITDA increased 22.3% to $63.3 million from $51.7 million, yielding a margin of 25.8% of revenues compared to 24.7% of revenues a year ago.
- Rental revenues increased 18.8%, or $13.2 million to $83.7 million on better rates and a larger fleet compared to a year ago.
- Gross margins were consistent at 30.7% in both periods.
- Average time utilization (based on original equipment cost) was 71.0% compared to 73.5% a year ago and 67.9% in the first quarter of 2013. Average time utilization (based on units available for rent) was 66.3% compared to 68.7% last year and 63.6% last quarter.
- Achieved positive year-over-year and sequential rental pricing in the second quarter. Average rental rates increased 7.3% compared to a year ago and improved 2.1% from the first quarter of this year.
- Dollar utilization was 35.8% as compared to 35.6% a year ago.
- Average rental fleet age at June 30, 2013 was 35.9 months, down slightly from the end of the last quarter and younger than the industry average age of 47 months.
H&E Equipment Services Reports Second Quarter 2013 Results
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