H&E Equipment Services has surpassed the $400 million mark in equipment rental revenues for 2014, totaling $404.1 million, compared to $338.9 million in 2013. Total revenue increased 14.7 percent in the fourth quarter to $297.8 million, compared to $259.6 million in the same period in 2013.
H&E attributed its fourth quarter rental increase to a larger fleet, higher utilization and improved rates compared to a year ago. Parts and service revenues also increased 16.6 percent in the fourth quarter.
Gross margin was 31.9 percent, compared to 31.5 percent a year ago. EBITDA climbed 22.8 percent to $87.1 million compared to $70.9 million in the year-ago frame, yielding a margin of 29.2 percent compared to 27.3 percent in Q413.
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