9/20/2022

Reversion to the Mean

Sep 21, 2022

∙ Paid

H&E Equipment Services (HEES) has acquired One Source Equipment Rentals for $130M. This acquisition provides an incremental $59M of revenue on a fleet size of $138M and is a minor acquisition compared to FY21 total revenue of $1.06B. The stock moved lower 1.95% on acquisition news as the company’s LT debt/equity ratio of 3.78x is above industry average…

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