Herc Holdings shares tumble after profit miss

Shares in Herc Holdings Inc HRI.N down 10.6% after quarterly earnings missed expectations

The equipment rental co's Q1 EPS of $1.30 compares with Street consensus of $2.23 while its rev of $861 mln was ahead of consensus expectation for $849.25 mln according to LSEG

Co says 2025 landscape mixed with national business growing, "fueled by federal and private funding for large construction projects like data centers, manufacturing onshoring and LNG facilities" but more interest-rate sensitive projects on hold, restricting local account growth

Affirms FY forecast for equipment rental rev growth of 4-6%, sees adj EBITDA of $1.575 bln to $1.650 bln

Stock last at $99.70 vs median PT of $206, vs $241 month ago, according to latest data from LSEG which shows 10 analyst ratings: 2 'strong buy, 4 'buy, 3 'hold' and 1 'sell' rating

YTD stock down ~47% after rising 27.2% in 2024 vs ~3.7% drop YTD for NYSE composite .NYA, which rose 13.3% in 2024