H&E expands with six new locations
By Lindsey Anderson13 April 2021
H&E Equipment Services Inc. has opened six new branches during the last month. In early March, the company expanded its California depots to a total of 10 when it opened a location in Lodi, CA.
The equipment rental company has also opened shops in: Concord, NC; La Vergne, TN (Murfreesboro); Longview, TX; Macon, GA; and Knoxville, TN.
Speaking about the company’s expansion in Tennessee, Knoxville Branch Manager John Rodriguez said, “The growth that we’ve been experiencing in the Knoxville area indicates a strong uptick in construction in the industrial and commercial sectors. With the enlargement of the Knoxville airport, major corporations are expanding into the metropolitan area, also creating a surge in the housing market.
“Between the project growth in the area and the proximity of our other branches to support one another with equipment, we are presented with a great opportunity here in Knoxville to provide our customers with exceptional service and capture a significant share of the region’s business.”
In February, H&E reported its 2020 Q4 results for the period ending Dec. 31, 2020, with total revenues of $315.6 million compared to $348.1 million in the fourth quarter of 2019, a -9.3 percent decrease.
Brad Barber, H&E’s CEO, said, “Our fourth quarter performance reaffirmed our beliefs regarding the ongoing improvement in our business. Demand in our end-user rental markets remained good and physical utilization increased sequentially from the third quarter. Our distribution business also delivered better-than-expected results. We are encouraged with the current trends and visibility as we move into 2021.
“From an organic perspective, we are significantly increasing the number of warm starts across our footprint to improve our density in high-growth regions. Additional growth is expected from tuck-in acquisitions of general rental businesses. We are also focused on entering the specialty rental business with opportunities that would be synergistic with our current lines of business and fleet mix. Throughout our 60 years in business, we have always been about equipment solutions, strategically growing our product lines and the ability to serve an increasing base of customers. We are ramping up this commitment in 2021.”