Boston, MA 03/11/2014 (wallstreetpr) – H&E Equipment Services, Inc. (NASDAQ:HEES) last posted stellar fourth quarter results on February 28, 2014 with earnings per share coming in at 41 cents beating consensus estimates of 40 cents. The results made the company stock surge by 24% in the market with the quarter earnings representing a 32% improvement compared to the same quarter a year earlier.
H&E Equipment Services, Inc. (NASDAQ:HEES) earnings per share for full year came in at $1.26, a high of 24.7% compared to a low of $1.01 in 2012. Earnings per share also beat Zacks consensus estimates of $1.19. Revenue for full year was up by 18% coming in at $987 million against estimates of $969 million.
H&E Equipment Services, Inc. (NASDAQ:HEES) saw its revenue for the quarter increase by 3.8% coming in at $260 million as a result of strong performance from the rental and equipment businesses. Rental revenue for the quarter was up by 12% coming in at $90.4 million, highly impacted by improved rates and large fleet.
The downside of the fourth quarter earnings was a drop in net equipment sales of 10.6% which came in at $77.8 million as a result of declining demands for large cranes. The company’s used equipment segment sales surged to $38 million and increase of 28.9%.
Costs and Margins
H&E Equipment Services, Inc. (NASDAQ:HEES) cost of sales for the quarter stood at $177.9 million compared to a low of $176.6 million in the prior year same quarter. Gross profit was up by 11% coming in at $81.6 million having expanded by 210 basis points.
Financial update
H&E Equipment Services cash and cash equivalent as of close of business on December stood at $17.6 million up from a low of $8.9 million as of the end of 2012. H&E Equipment Services total debt for the year on the other hand surged to $734.7 million from lows of $690 million in 2012.
H&E Equipment Services, Inc. (NASDAQ:HEES) was down on Monday trading session by 1.09% closing the day at a low of $38.05.
