Herc Holdings Inc. (NYSE:HRI) Q1 2023 Earnings Conference Call April 20, 2023 8:30 AM ET

Company Participants

Leslie Hunziker - Senior Vice President, Investor Relations

Larry Silber - President and Chief Executive Officer

Aaron Birnbaum - Senior Vice President and Chief Operating Officer

Mark Humphrey - Senior Vice President and Chief Financial Officer

Conference Call Participants

Jerry Revich - Goldman Sachs

Rob Wertheimer - Melius Research

Sherif El-Sabbahy - Bank of America

Neil Tyler - Redburn

Larry Stavitski - Wells Fargo

Ken Newman - KeyBanc

Mig Dobre - Baird

Steven Fisher - UBS

Brian Sponheimer - Gabelli Funds

David Raso - Evercore ISI

Steven Ramsey - Thompson Research Group

Operator

Ladies and gentlemen, good morning. My name is Abby and I will be your conference operator today. At this time, I would like to welcome everyone to the Herc Holdings, Inc. First Quarter 2023 Earnings Conference Call. Today’s conference is being recorded. [Operator Instructions] Thank you. And I will now turn the conference over to Leslie Hunziker, Senior Vice President of Investor Relations. You may begin.

Leslie Hunziker

Thank you, operator and good morning everyone. Welcome to Herc Rentals’ first quarter 2023 earnings conference call and webcast. Earlier today, our press release, presentation slides and 10-Q were filed with the SEC and all are posted to the Events page of our IR website at ir.hercrentals.com.

This morning, I am joined by Larry Silber, President and Chief Executive Officer; Aaron Birnbaum, Senior Vice President and Chief Operating Officer; and Mark Humphrey, Senior Vice President and Chief Financial Officer.

Today, we are reviewing our first quarter 2023 results with comments on operations and our financials, including our view of the industry and our strategic outlook. The prepared remarks will be followed by an open Q&A.

Now, let’s move on to our Safe Harbor and GAAP reconciliation on Slide 3. Today’s call will include forward-looking statements. These statements are based on the environment as we see it today and therefore, involve risks and uncertainties. I would caution you that our actual results could differ materially from the forward-looking statements made on this call. You should also refer to the Risk Factors section in our annual report on Form 10-K for the year ended December 31, 2022 and our quarterly report on Form 10-Q for the period end March 31, 2023.

In addition to the financial results presented on a GAAP basis, we will be discussing non-GAAP information that we believe is useful in evaluating the company’s operating performance. Reconciliations for these non-GAAP measures to the closest GAAP equivalent can be found in the conference call material. A replay of this call can be accessed via dial-in and through the webcast on our website. Replay instructions were included in our earnings release this morning. We have not given permission for any other recording of this call and do not approve or sanction any transcribing of the call.