H&E Equipment Services announces second-quarter earnings

Increases in new equipment sales and rentals boosted Baton Rouge-based H&E Equipment Services’ second-quarter earnings to $15.7 million, or 45 cents per share, compared to $10.8 million, or 31 cents per share, a year ago.

The Baton Rouge-based heavy equipment provider’s revenue grew 14.3 percent to $280.4 million. Equipment rental revenue jumped 18 percent to $98.8 million while new equipment sales swelled by 23.3 percent to $90.6 million. H&E’s parts-and-service business also saw a 10 percent increase in revenue to $44.5 million.

John Engquist, H&E chief executive officer, said the company took advantage of improving trends in commercial construction, especially in the energy and chemical sectors along the Gulf Coast.

The outlook for the rest of the year remains positive, based on the current trends and high demand in H&E’s customers’ markets, he said.