$HEES
H&E Equipment Services, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021040237 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $265.7M $238.0M
YoY Change 11.61% -28.64%
Cost Of Revenue $165.9M $186.3M
YoY Change -10.96% -10.8%
Gross Profit $99.82M $92.07M
YoY Change 8.42% -26.21%
Gross Profit Margin 37.57% 38.68%
Selling, General & Admin $70.71M $67.86M
YoY Change 4.2% -12.82%
% of Gross Profit 70.84% 73.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $66.45M $67.60M
YoY Change -1.7% -2.87%
% of Gross Profit 66.57% 73.42%
Operating Expenses $70.71M $67.86M
YoY Change 4.2% -12.82%
Operating Profit $29.73M $20.90M
YoY Change 42.26% -56.16%
Interest Expense $13.43M $15.57M
YoY Change -13.79% -9.82%
% of Operating Profit 45.15% 74.5%
Other Income/Expense, Net -$12.68M -$14.93M
YoY Change -15.1% -11.01%
Pretax Income $17.06M $5.965M
YoY Change 185.98% -80.69%
Income Tax $4.808M $3.240M
% Of Pretax Income 28.18% 54.32%
Net Earnings $15.77M $8.815M
YoY Change 78.85% -61.02%
Net Earnings / Revenue 5.93% 3.7%
Basic Earnings Per Share $0.44 $0.24
Diluted Earnings Per Share $0.43 $0.24
COMMON SHARES
Basic Shares Outstanding 36.22M 36.03M
Diluted Shares Outstanding 36.44M 36.11M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $202.5M $6.300M
YoY Change 3114.08% -5.97%
Cash & Equivalents $202.5M $6.251M
Short-Term Investments
Other Short-Term Assets $17.38M $18.80M
YoY Change -7.55% 39.26%
Inventory $128.4M $79.45M
Prepaid Expenses
Receivables $170.5M $146.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $518.8M $251.1M
YoY Change 106.61% -27.84%
LONG-TERM ASSETS
Property, Plant & Equipment $1.399B $126.3M
YoY Change 1008.12% 3.74%
Goodwill $68.85M
YoY Change -52.06%
Intangibles $30.95M
YoY Change -11.66%
Long-Term Investments
YoY Change
Other Assets $1.807M $2.500M
YoY Change -27.72% -21.88%
Total Long-Term Assets $1.497B $1.528B
YoY Change -2.03% -10.75%
TOTAL ASSETS
Total Short-Term Assets $518.8M $251.1M
Total Long-Term Assets $1.497B $1.528B
Total Assets $2.016B $1.779B
YoY Change 13.3% -13.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $113.1M $72.30M
YoY Change 56.43% -39.14%
Accrued Expenses $238.6M $239.2M
YoY Change -0.24% -2.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $359.1M $330.4M
YoY Change 8.69% -15.43%
LONG-TERM LIABILITIES
Long-Term Debt $1.239B $1.014B
YoY Change 22.24% -17.48%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.239B $1.014B
YoY Change 22.24% -17.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $359.1M $330.4M
Total Long-Term Liabilities $1.239B $1.014B
Total Liabilities $1.775B $1.517B
YoY Change 17.01% -14.98%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $240.5M $261.9M
YoY Change
Total Liabilities & Shareholders Equity $2.016B $1.779B
YoY Change 13.3% -13.64%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $15.77M $8.815M
YoY Change 78.85% -61.02%
Depreciation, Depletion And Amortization $66.45M $67.60M
YoY Change -1.7% -2.87%
Cash From Operating Activities $33.56M $126.0M
YoY Change -73.37% 31.39%
INVESTING ACTIVITIES
Capital Expenditures -$181.1M -$39.10M
YoY Change 363.12% -71.52%
Acquisitions
YoY Change
Other Investing Activities $37.39M $34.20M
YoY Change 9.33% -1.16%
Cash From Investing Activities -$143.6M -$4.900M
YoY Change 2830.41% -95.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.964M -127.2M
YoY Change -92.17% -1891.55%
NET CHANGE
Cash From Operating Activities 33.56M 126.0M
Cash From Investing Activities -143.6M -4.900M
Cash From Financing Activities -9.964M -127.2M
Net Change In Cash -120.0M -6.100M
YoY Change 1867.13% -2133.33%
FREE CASH FLOW
Cash From Operating Activities $33.56M $126.0M
Capital Expenditures -$181.1M -$39.10M
Free Cash Flow $214.6M $165.1M
YoY Change 30.01% -29.2%

Facts In Submission

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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:2.27%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:2.27%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, which requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. These assumptions and estimates could have a material effect on our condensed consolidated financial statements. Actual results may differ materially from those estimates. We review our estimates on an ongoing basis based on information currently available, and changes in facts and circumstances may cause us to revise these estimates. </p>
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CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36031000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36200000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35998000
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.78
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
15766000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
8815000
us-gaap Net Income Loss
NetIncomeLoss
19917000
us-gaap Net Income Loss
NetIncomeLoss
-28153000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36216000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36031000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36200000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35998000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36437000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36107000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36412000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35998000
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.78
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
167700000
CY2021Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
100000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
171700000
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
200000
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y1M6D
CY2021Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M18D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.063
CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.059
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
100000
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
500000
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
500000
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
500000
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
500000
CY2021Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
3200000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5
CY2021Q2 us-gaap Revenues
Revenues
315763000
CY2020Q2 us-gaap Revenues
Revenues
278336000
us-gaap Revenues
Revenues
594208000
us-gaap Revenues
Revenues
564258000
CY2021Q2 us-gaap Gross Profit
GrossProfit
111365000
CY2020Q2 us-gaap Gross Profit
GrossProfit
92070000
us-gaap Gross Profit
GrossProfit
204368000
us-gaap Gross Profit
GrossProfit
197553000
CY2021Q2 us-gaap Assets
Assets
2015891000
CY2020Q4 us-gaap Assets
Assets
1980484000
CY2021Q2 hees Percentage Of Revenue From International Market On Aggregate Revenue
PercentageOfRevenueFromInternationalMarketOnAggregateRevenue
0.001
CY2020Q2 hees Percentage Of Revenue From International Market On Aggregate Revenue
PercentageOfRevenueFromInternationalMarketOnAggregateRevenue
0.002
hees Percentage Of Revenue From International Market On Aggregate Revenue
PercentageOfRevenueFromInternationalMarketOnAggregateRevenue
0.002
hees Percentage Of Revenue From International Market On Aggregate Revenue
PercentageOfRevenueFromInternationalMarketOnAggregateRevenue
0.003
CY2021Q2 hees Number Of Major Customers
NumberOfMajorCustomers
0
CY2020Q2 hees Number Of Major Customers
NumberOfMajorCustomers
0
hees Number Of Major Customers
NumberOfMajorCustomers
0
hees Number Of Major Customers
NumberOfMajorCustomers
0

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