Herc Holdings reported equipment rental revenue of $400.4 million in the first quarter of 2021, which ended on March 31, up 3.6 percent over the same period last year. Net income was $32.9 million, compared to a net loss of $3.7 million in the first quarter of 2020, on total revenue of $453.8 million in the first quarter of 2021.
Net rental equipment capital expenditures were $50.6 million for the first quarter of 2021. Gross rental equipment capital expenditures were $90.9 million compared with $83.0 million in 2020. Proceeds from disposal of rental equipment were $40.3 million compared to $34.6 million last year.
Herc fleet metrics
As of March 31, 2021, total fleet value was approximately $3.63 billion at original equipment cost. Average fleet decreased year-over-year by 5.1 percent compared to the prior-year period. Average fleet age is 48 months, which is the same as the first quarter of 2020.
Source: Herc Holdings