H&E Equipment Q2 Profit Beats View, Revenue Misses - Quick Facts

(RTTNews) - H&E Equipment Services Inc. (HEES) on Thursday reported an increase in profit for the second quarter from last year on higher revenues. Earnings per share beat analysts' expectations, while revenues missed their estimates.

The company's net income for the second quarter increased to $22.6 million or $0.63 per share from $20.8 million or $0.58 per share in the year-ago period.

Revenues for the quarter grew 7.5 percent to $333.6 million versus $310.4 million a year ago.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.58 per share for the quarter on revenues of $337.96 million. Analysts estimates typically exclude special items.

Brad Barber, H&E Equipment Services' chief executive officer and president, said, "We believe our performance is consistent with the ongoing strength in the non-residential construction markets. Our customers remain optimistic with solid visibility into their project pipelines for the remainder of this year and into 2020."