Herc Holdings Q3: Earnings Miss, Sales Jump 22%, Revised Guidance & More
Portfolio Pulse from Nabaparna Bhattacharya
Herc Holdings Inc. reported Q3 FY23 sales growth of 22% YoY to $908 million, beating analyst consensus. However, its adjusted EPS of $4.00 missed the consensus of $4.15. The company also announced it is exploring strategic alternatives for its Cinelease studio entertainment business due to changing industry dynamics. Herc narrowed its adjusted EBITDA outlook for FY23. Following the announcement, HRI shares fell by 2.31%.
October 24, 2023 | 1:49 pm
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Herc Holdings reported mixed Q3 results with sales beating but EPS missing estimates. The company is also exploring strategic alternatives for its Cinelease business. Following the news, HRI shares fell by 2.31%.
Herc Holdings' Q3 results were mixed with sales beating estimates but EPS missing, which could have contributed to the stock price decline. The announcement of exploring strategic alternatives for Cinelease also adds uncertainty, potentially impacting investor sentiment negatively.
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