Strong demand from commercial construction markets helped boost H&E Equipment Services’ second quarter net income to $9.9 million, or 28 cents per diluted share, up from $7.5 million during the same quarter last year.
The Baton Rouge-based heavy equipment supplier’s latest quarterly report shows that overall revenues climbed 3% to approximately $249 million. Rental revenues, the company notes, increased 8.5% to roughly $118 million.
“As we move into the second half of the year, we believe the trends in our business and the optimism in our end-user markets remain positive,” CEO John Engquist says in a statement. “We are also extremely excited about our pending acquisition of Neff Corporation, which we expect will significantly penetrate and grow our business in strategic business segments.”
The acquisition is valued at $1.2 billion.
