H&E Equipment Services posted second-quarter profits of $2.7 million, or 8 cents per diluted share, thanks to a demand for new cranes and earthmoving equipment. The Baton Rouge-based company, which sells and rents equipment, rebounded after a $7.1 million loss in the second quarter of 2010, which came to 20 cents per share. John Engquist, H&E president and CEO, says the company saw revenue go up by 41% since the second quarter of 2010, from $131 million to $184.3. That’s encouraging, because commercial construction has been fairly dormant. Engquist says it looks like the second quarter will be the best sales period of the year, but rental activity is expected to continue to show year-over-year improvement. Shares of H&E were up more than 60 cents, or nearly 6%, to come in at more than $11.65 in early morning trading.
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