Herc Holdings Inc. reported record financial results for the third quarter ended September 30, 2026, according to an 8-K filing and accompanying press release. The company announced record equipment rental revenue of $1.254 billion, a 12% increase year-over-year, which drove total revenues to $1.364 million, a 5% increase.
For the quarter, net income was $104 million, or $3.10 per diluted share, compared to $30 million, or $0.90 per diluted share, in the prior year. Adjusted net income was $131 million, or $3.91 per diluted share, up from $74 million, or $2.22 per diluted share, in the prior year. Adjusted EBITDA reached $603 million, a 9% increase, with a margin of 44.2%.
For the nine months ended September 30, 2026, total revenues increased 17% to $3.707 billion. Net income was $99 million, or $2.96 per diluted share, compared to a net loss of $23 million, or $0.75 per diluted share, in the prior year. Adjusted EBITDA for the period was $1.538 million.
On the balance sheet, net debt stood at $8.0 billion as of September 30, 2026, with net leverage of 3.90x. The company declared a quarterly dividend of $0.70 per share.
Herc Holdings is raising its full-year 2026 guidance ranges for equipment rental revenue, adjusted EBITDA, and capital expenditures. The updated guidance for equipment rental revenue is $4.475 billion to $4.550 billion, up from the previous range of $4.375 billion to $4.475 billion. Adjusted EBITDA guidance is now $2.10 billion to $2.15 billion, compared to the prior range of $2.05 billion to $2.125 billion.
