H&E Equipment Services Inc. (NASDAQ: HEES) director Paul Arnold bought 10,000 shares of HEES common stock earlier this week, according to a filing.
HEES shares rose marginally in trading today, ending the day 0.67% higher at $18.15 on above average volume of 372,714. The stock touched an intra-day high of $18.50 today.
HEES shares have gained 35.25%, year-to-date, outperforming the S&P 500.
Based in Baton Rouge, Louisiana, H&E Equipment Services is integrated equipment services company focused on heavy construction and industrial equipment.
Earlier this week, HEES declared a one-time special cash dividend of $7 per share. The special cash dividend will be payable on September 19, 2012 to stockholders of record at the close of business on September 5, 2012.
Earlier this month, HEES reported its second-quarter financial results. For the second quarter ended June 30, 2012, HEES reported revenue of $209 million, compared to $184.3 million reported for the same period in the previous year.
HEES’s net income for the quarter was $10.5 million, compared to $2.7 million reported for the same period in the previous year. The company’s second-quarter EBITDA rose 46.8% to $51.7 million.
HEES’s rental revenue for the quarter rose 26.4% to $70.5 million in the second quarter. Gross margin for the second quarter stood at 30.7%, compared to 25.9% reported for the same period in the previous year.
John Engquist, President and CEO of H&E Equipment Services, said that HEES’s second-quarter performance was very strong as the company continued to experience solid demand in all of its end user markets, particularly in the Gulf Coast markets where energy-related activity remains very healthy. Engquist said that a modest recovery in commercial construction activity is also driving higher demand for rentals as fundamentals for this segment of HEES’s business are very strong.
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