Herc Holdings Reaffirms FY23 Adjusted EBITDA Of $1.45 Billion - $1.55 Billion, Forecasts Higher Construction Spending
Portfolio Pulse from Benzinga Newsdesk
Herc Holdings has reaffirmed its FY23 adjusted EBITDA guidance of $1.45 billion to $1.55 billion, reflecting an increase of 18% to 26% compared to FY22. The company plans to gain market share by capitalizing on higher forecasted construction spending in 2023 through fleet investment, strategic acquisitions, and diversified product portfolio cross-selling.
July 25, 2023 | 10:38 am
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POSITIVE IMPACT
Herc Holdings' reaffirmed FY23 EBITDA guidance and plans to capitalize on higher construction spending could positively impact its stock in the short term.
The reaffirmed EBITDA guidance indicates the company's confidence in its financial performance. Its plans to capitalize on higher construction spending through strategic actions could drive growth, potentially leading to a positive impact on its stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100