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Herc Holdings (HRI) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 27, 2026 · Herc Holdings (HRI) Q3 2026 earnings results →

Q3 2026 Revenue up 5% year over year to $1.4B · 8¢ of every $1 of revenue kept as net profit · operating margin 8.8%

Herc Holdings made $1.4B in Q3 2026 (+5% Y/Y): Equipment rental $1.3B, Delivery and pick-up $83.0M, Sales of new equipment, parts and supplies $13.0M. Operating margin 8.8%, net earnings $104M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 27, 2026.

Revenue$1.4B
Year over year+5%
Operating margin8.8%
Net earnings$104M
Operating cash flow$360M

Drawing the Sankey…

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Herc Holdings Q3 2026 revenue breakdown: Sankey diagram of revenue (Equipment rental, Delivery and pick-up, Sales of new equipment, parts and supplies, Service and other revenue), costs, profit and cash flow
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What changed this quarter

Revenue was $1.4B in Q3 2026, up 5% year over year and up 13% from the previous quarter. Equipment rental was the largest line at 83% of revenue. Equipment rental added $0.13B year over year (up 13%), 213% of the total change. Sales of rental equipment declined 44%.

Operating profit was $0.12B, a 8.8% margin (up 5.9 points year over year). Of the extra revenue versus Q3 2025, 137% reached operating profit, above the 3% margin then. Total costs fell 2% while revenue rose 5%. Net earnings were $0.10B, up 247% year over year. The effective tax rate was 13.3%.

Operating cash flow was $0.36B (up 1% year over year), 346% of net earnings. Non-cash charges added back $0.01B of share-based compensation. Working capital and other items added $0.24B. Capital expenditures of $0.03B left free cash flow of $0.34B.

Quarterly history

Herc Holdings revenue by quarterHerc Holdings revenue by quarter$861MQ1 2025$1.0BQ2 2025$1.3BQ3 2025$1.2BQ4 2025$1.1BQ1 2026$1.2BQ2 2026$1.4BQ3 2026
Herc Holdings net earnings by quarterHerc Holdings net earnings by quarter−$18.0MQ1 2025−$35.0MQ2 2025$30.0MQ3 2025$24.0MQ4 2025−$24.0MQ1 2026$19.0MQ2 2026$104MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 27, 2026$1.4B+5%8.8%$104M$360M
Q2 202610-QJul 28, 2026$1.2B+20%2.0%$19.0M$314M
Q1 202610-QApr 28, 2026$1.1B+32%-2.0%−$24.0M$277M
Q4 202510-KFeb 17, 2026$1.2B+27%1.4%$24.0M$315M
Q3 202510-QOct 28, 2025$1.3B+35%2.9%$30.0M$358M
Q2 202510-QJul 29, 2025$1.0B+18%-4.6%−$35.0M$241M
Q1 202510-QApr 22, 2025$861M+7%-0.9%−$18.0M$171M

Charts

Herc Holdings: revenue growth, year over year and quarter over quarterHerc Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+7%Q1 2025+18%+16%Q2 2025+35%+30%Q3 2025+27%-7%Q4 2025+32%-6%Q1 2026+20%+6%Q2 2026+5%+13%Q3 2026
Latest (Q3 2026): Y/Y +5%, Q/Q +13%.
Herc Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Herc Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$1.3BOther investing−$857MNet borrowing (+) / repaid (−)−$169MCapital spending−$141MDividends−$94.0MAsset & business sales$31.0MOther financing−$30.0MTaxes on employees’ shares−$9.0MShares issued$8.0MCash drawn (+) / kept (−)−$5.0MAcquisitions−$1.0MExchange rates$1.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Herc Holdings: profit against cash, quarter by quarterHerc Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow−$46.0M$331MQ4 2024−$18.0M$171MQ1 2025−$35.0M$241MQ2 2025$30.0M$358MQ3 2025$24.0M$315MQ4 2025−$24.0M$277MQ1 2026$19.0M$314MQ2 2026$104M$360MQ3 2026
Latest (Q3 2026): Net income $104M, Operating cash flow $360M.
Herc Holdings: diluted shares by fiscal yearHerc Holdings: diluted shares by fiscal year29MFY202030MFY202130MFY202229MFY202328MFY202431MFY2025
+6.8% since FY2020: more shares outstanding (issuance, stock pay).
Herc Holdings: long-term debt falling due (FY2025)Herc Holdings: long-term debt falling due (FY2025)$26.0M2026$21.0M2027$497M2028$819M2029$3.7B2030$3.0BLater
Cash $52.0M, short-term investments —, long-term debt $8.0B at 2025-12-31.
Herc Holdings in its industry: growth against margin (4 companies, SIC 7350)Herc Holdings in its industry: growth against margin (4 companies, SIC 7350)revenue growth, year over year →↑ operating marginmedian +11%median 21%FTAIWSCNPKIHRI (+5%, 9%)
Services-Miscellaneous Equipment Rental & Leasing; dot size is quarterly revenue; dashed lines are the industry's medians.

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About Herc Holdings

Herc Holdings Inc. ("we," "us," "our," "Herc Holdings," or "the Company") is one of the leading equipment rental suppliers with 607 locations in North America as of June 30, 2026. The Company conducts substantially all of its operations through subsidiaries, including Herc Rentals Inc. ("Herc"). With over 60 years of experience, the Company is a full-line equipment rental supplier offering a broad portfolio of equipment for rent, services and technologies aimed at helping customers work more efficiently, effectively and safely.

In its own words, from its 10-Q, filed Jul 28, 2026.

Herc Holdings against its Services-Miscellaneous Equipment Rental & Leasing peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +11%. Operating margin: 8.8% against the peers' median 21.0%.

CompanyQuarterRevenueY/YOp. margin
HRI Herc HoldingsQ3 2026$1.4B+5%8.8%
FTAI FTAI AviationQ3 2026$978M+47%22.4%
WSC WillScot HoldingsQ3 2026$601M+6%21.0%
NPKI NPK InternationalQ3 2026$76.3M+11%12.0%

Source: Herc Holdings 10-Q on SEC EDGAR · CIK 1364479 · Services-Miscellaneous Equipment Rental & Leasing

13F: who owns HRI and who is buying

Largest holders of HRI (13F)Largest holders of HRI (13F)FMR LLC$716MVanguard Group$484MBlackRock$411MVanguard Portfolio Management LLC$231MVanguard Capital Management LLC$211MDimensional Fund Advisors LP$191MFirst Trust Advisors LP$188MColiseum Capital Management, LLC$160MGamco Investors, Inc. et Al$140MGeode Capital Management, LLC$117M
Funds' net buying of HRI by quarter (13F)Funds' net buying of HRI by quarter (13F)$150M2024-09−$30.3M2024-12$238M2025-03$448M2025-06$36.5M2025-09$146M2025-12−$150M2026-03$26.1M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on HRI

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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