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Herc Holdings Inc. supplies equipment that customers need for construction, industrial operations and maintenance without having to buy and maintain it themselves. It uses the Herc Rentals name and serves North America, mainly the United States. Contractors and industrial customers together provide most rental revenue. Customers pay to use equipment by the day, week or month, from aerial lifts and earthmoving machinery to ProSolutions power-generation and climate-control equipment.
Rentals generate most revenue. Herc also provides delivery, pickup and equipment support, and sells used rental equipment to adjust the fleet’s size, age and mix. Sales of new equipment, parts and supplies are smaller additions to the rental business.
The business depends on customers’ construction, capital-investment and maintenance spending, with rental demand generally lower in winter. National accounts using equipment on large, complex projects supply a substantial share of rental revenue and tend to rent for longer periods, but their contracts generally do not require them to rent from Herc. No individual customer dominates revenue, and virtually all customers can end a rental without penalty by returning the equipment.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
United Rentals competes with Herc for North American construction and industrial customers renting construction, aerial and industrial equipment. Its general-rentals revenue is worth watching for changes in demand from those shared customer groups.
Sunbelt Rentals Holdings, Inc. competes with Herc across North America, renting general construction and industrial equipment and offering specialty rental solutions. Watch its North American General Tool and Specialty revenue separately to distinguish competition in broad equipment rentals from specialty offerings.
WillScot Holdings Corporation shares Herc’s exposure to North American construction, infrastructure and industrial project spending: customers lease temporary space and portable storage from WillScot and equipment from Herc. Watch revenue from its construction and infrastructure customers for a read on an end market both serve.
Alta Equipment Group Inc. gives equipment users in overlapping regional markets an alternative to Herc, selling as well as renting earthmoving, material-handling and aerial equipment. Its equipment-rental revenue is the closest comparison with Herc’s business; Alta also earns money from equipment sales, parts and repairs.
Terex Corporation’s sales to national rental companies offer a view of fleet investment relevant to Herc: aerial equipment made up 26% of Herc’s rental fleet original cost at December 31, 2025. Watch Terex’s aerial-equipment sales to those rental companies, without assuming Herc is a disclosed customer.
Housing Starts (Sep)
Herc Holdings rents equipment to contractors, who generated about 38% of its rental revenue, so homebuilding activity can affect contractors’ rental demand and the revenue Herc earns from equipment rentals.
Expected1.31MLast release1.275M
If it comes in above expectations
If the reading is above the 1.31M estimate, it is above the previous 1.275M. More homebuilding can support contractors’ demand for Herc Holdings’ rental equipment, potentially increasing equipment use and rental revenue.
If it comes in below expectations
Less homebuilding can weaken contractors’ demand for Herc Holdings’ rental equipment, potentially reducing equipment use and rental revenue.
United Rentals, Inc. earningsURI
United Rentals' general-rentals revenue will show how demand is changing among North American construction and industrial customers that also rent from Herc.
Read United Rentals' general-rentals revenue alongside pricing or equipment utilization, if reported. Firm revenue with pricing and utilization holding up would suggest shared customers are still putting equipment to work, a supportive demand signal for Herc. Weaker revenue or pricing would point to a softer market and make it harder for Herc to win rentals or hold rates. This is evidence about the market they share, not Herc's own results.
Herc Holdings Inc. earningsThis company
Herc earns most of its revenue by renting equipment, so this report will show whether customer rentals are supporting the cost of carrying and serving its fleet.
Read equipment-rental revenue alongside fleet utilization and rental pricing; if Herc provides comparable figures, separate growth from acquired operations. Rising rental revenue with utilization and pricing holding up would show customers are putting Herc's fleet to work and supporting its rental business. Weakening figures would mean a larger fleet is not necessarily generating more productive rentals. Keep used-equipment sales separate: they can lift total revenue but do not prove rental demand is stronger.
Terex Corporation earningsTEX
Terex's aerial-equipment sales to national rental companies will show whether the industry is investing in a category that made up 26% of Herc's fleet original equipment cost.
Watch Terex's aerial-equipment sales to national rental companies. Higher sales would show rental firms adding or replacing equipment in a major category for Herc, potentially supporting Herc's fleet investment but also adding rental capacity to the market. Weaker sales would point to more cautious fleet spending; they would not establish that Herc cut purchases. Terex's report does not identify Herc as a customer.
Fed Interest Rate Decision
Herc Holdings rents equipment to contractors and industrial customers, and higher borrowing costs can raise interest on its floating-rate debt, leaving less cash for fleet purchases and debt service.
Expected4.0%Last release4.0%
If it comes in above expectations
Higher rates can increase interest on Herc Holdings’ floating-rate debt, leaving less cash for fleet investment and debt service.
If it comes in below expectations
Lower rates can ease interest costs on debt that reprices, leaving Herc Holdings more cash for fleet investment and debt service.
Industrial Production MoM (Oct)
Industrial customers generated about 25% of Herc Holdings’ equipment-rental revenue, so factory, mine and utility activity can affect their equipment use and the rentals they buy from Herc.
Rising output points to stronger industrial activity that may support customers’ demand for Herc Holdings rentals; falling output may mean weaker activity and less rental demand.
