H&E Equipment Services Earnings 2020-03-31

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

hees-10q_20200331.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 10-Q

☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2020

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 000-51759

H&E Equipment Services, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware		81-0553291
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)

7500 Pecue Lane,		70809
Baton Rouge, Louisiana		(ZIP Code)
(Address of Principal Executive Offices)

Registrant’s Telephone Number, Including Area Code: (225) 298-5200

Securities registered pursuant to Section 12(b) of the Act:


Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	HEES	Nasdaq Global Market

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non‑accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer	☑	Accelerated Filer ☐	Non-Accelerated Filer	☐

Smaller Reporting Company	☐	Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

As of May 1, 2020, there were 35,919,949 shares of H&E Equipment Services, Inc. common stock, $0.01 par value, outstanding.

H&E EQUIPMENT SERVICES, INC. AND SUBSIDIARIES

TABLE OF CONTENTS

March 31, 2020

		Page
PART I. FINANCIAL INFORMATION		5

Item 1. Financial Statements:		5
Condensed Consolidated Balance Sheets as of March 31, 2020 (Unaudited) and December 31, 2019		5
Condensed Consolidated Statements of Operations (Unaudited) for the Three Months Ended March 31, 2020 and 2019		6
Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2020 and 2019		7
Notes to Condensed Consolidated Financial Statements (Unaudited)		9
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		27
Item 3. Quantitative and Qualitative Disclosures About Market Risk		37
Item 4. Controls and Procedures		37

PART II. OTHER INFORMATION		39

Item 1. Legal Proceedings		39
Item 1A. Risk Factors		39
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		40
Item 3. Defaults upon Senior Securities		40
Item 4. Mine Safety Disclosures		40
Item 5. Other Information		40
Item 6. Exhibits		41

Signatures		42

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “project”, “intend”, “foresee” and similar expressions. These statements include, among others, statements regarding our expected business outlook, anticipated financial and operating results, our business strategy and means to implement the strategy, our objectives, the amount and timing of capital expenditures, the likelihood of our success in expanding our business, financing plans, budgets, working capital needs and sources of liquidity. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.

Forward-looking statements are only predictions and are not guarantees of performance. These statements are based on our management’s beliefs and assumptions, which in turn are based on currently available information. Important assumptions relating to the forward-looking statements include, among others, assumptions regarding demand for our products, the expansion of product offerings geographically or through new marketing applications, the timing and cost of planned capital expenditures, competitive conditions and general economic conditions. These assumptions could prove inaccurate. Forward-looking statements also involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. In addition, even if our actual results are consistent with the forward-looking statements contained in this Quarterly Report on Form 10-Q, those results may not be indicative of results or developments in subsequent periods. Many of these factors are beyond our ability to control or predict. Such factors include, but are not limited to, the following:

•

risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of construction or infrastructure projects, supply chain disruptions and other impacts to the business;

•

general economic conditions and construction and industrial activity in the markets where we operate in North America;

•

our ability to forecast trends in our business accurately, and the impact of economic downturns and economic uncertainty on the markets we serve (including as a result of current uncertainty due to COVID-19);

•

the impact of conditions in the global credit and commodity markets (including as a result of current volatility and uncertainty in credit and commodity markets due to COVID-19) and their effect on construction spending and the economy in general;

•

trends in oil and natural gas could adversely affect the demand for our services and products;

•

relationships with equipment suppliers;

•

increased maintenance and repair costs as we age our fleet and decreases in our equipment’s residual value;

•

our indebtedness;

•

risks associated with the expansion of our business and any potential acquisitions we may make, including any related capital expenditures, or our ability to consummate such acquisitions;

•

our possible inability to integrate any businesses we acquire;

•

competitive pressures;

•

security breaches and other disruptions in our information technology systems;

•

adverse weather events or natural disasters;

•

compliance with laws and regulations, including those relating to environmental matters, corporate governance matters and tax matters, as well as any future changes to such laws and regulations; and

•

other factors discussed under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2019.

Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission (“SEC”), we are under no obligation to publicly update or revise any forward-looking statements after we file this Quarterly Report on Form 10-Q, whether as a result of any new information, future events or otherwise. Investors, potential investors and other readers are urged to consider the above mentioned factors carefully in evaluating the forward‑looking statements and are cautioned not to place undue reliance on such forward‑looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results or performance.

For a more detailed discussion of some of the foregoing risks and uncertainties, see Item 1A — “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2019 and Item 1A — “Risk Factors” in this Quarterly Report on Form 10-Q

for the three month period ended March 31, 2020, as well as other reports and registration statements filed by us with the SEC. These factors should not be construed as exhaustive and should be read with other cautionary statements in this Quarterly Report on Form 10-Q and our other public filings. All of our annual, quarterly and current reports, and any amendments thereto, filed with or furnished to the SEC are available on our Internet website under the Investor Relations link. For more information about us and the announcements we make from time to time, visit our Internet website at www.he-equipment.com.

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

H&E EQUIPMENT SERVICES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except share amounts)

	Balances at
	March 31, 2020			December 31, 2019
	(Unaudited)
ASSETS
Cash	$	12,440		$	14,247
Receivables, net of allowance for doubtful accounts of $4,774 and $5,236, respectively		169,415			192,204
Inventories, net of reserves for obsolescence of $338 and $331, respectively		106,157			85,478
Prepaid expenses and other assets		17,361			10,262
Rental equipment, net of accumulated depreciation of $696,538 and $676,376, respectively		1,171,663			1,217,673
Property and equipment, net of accumulated depreciation and amortization of $157,202 and $156,782, respectively		130,614			130,564
Operating lease right-of-use assets, net of accumulated amortization of $14,135 and $11,197, respectively		169,539			156,570
Finance lease right-of-use assets, net of accumulated amortization of $2,092 and $2,051, respectively		325			365
Deferred financing costs, net of accumulated amortization of $14,594 and $14,419, respectively		2,682			2,857
Intangible assets, net of accumulated amortization of $7,762 and $6,952, respectively		31,938			32,948
Goodwill		68,851			131,442
Total assets	$	1,880,985		$	1,974,610
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Amounts due on senior secured credit facility	$	184,921		$	216,879
Accounts payable		67,790			58,853
Manufacturer flooring plans payable		17,761			25,201
Accrued expenses payable and other liabilities		57,394			78,382
Dividends payable		95			171
Senior unsecured notes, net of unaccreted discount of $2,572 and $2,691 and deferred financing costs of $1,666 and $1,743, respectively		945,762			945,566
Operating lease right-of-use liabilities		172,376			159,265
Finance lease right-of-use liabilities		490			550
Deferred income taxes		170,328			180,126
Deferred compensation payable		2,123			2,098
Total liabilities		1,619,040			1,667,091
Commitments and Contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized; no shares issued		—			—
Common stock, $0.01 par value, 175,000,000 shares authorized; 40,020,289 and 39,921,838 shares issued at March 31, 2020 and December 31, 2019, respectively, and 35,920,148 and 35,848,089 shares outstanding at March 31, 2020 and December 31, 2019, respectively		399			398
Additional paid-in capital		237,496			235,844
Treasury stock at cost, 4,100,141 and 4,073,749 shares of common stock held at March 31, 2020 and December 31, 2019, respectively		(65,253	)		(64,783	)
Retained earnings		89,303			136,060
Total stockholders’ equity		261,945			307,519
Total liabilities and stockholders’ equity	$	1,880,985		$	1,974,610

The accompanying notes are an integral part of these condensed consolidated financial statements.

H&E EQUIPMENT SERVICES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(Amounts in thousands, except per share amounts)

	Three Months Ended March 31,
	2020			2019
Revenues:
Equipment rentals	$	174,519		$	176,129
New equipment sales		30,873			59,103
Used equipment sales		31,218			29,634
Parts sales		29,769			30,428
Services revenues		16,822			15,568
Other		2,721			2,776
Total revenues		285,922			313,638
Cost of revenues:
Rental depreciation		59,986			57,148
Rental expense		25,569			24,768
Rental other		16,805			16,275
		102,360			98,191
New equipment sales		27,426			52,099
Used equipment sales		20,438			19,012
Parts sales		21,903			22,289
Services revenues		5,540			5,004
Other		2,772			3,343
Total cost of revenues		180,439			199,938
Gross profit		105,483			113,700
Selling, general and administrative expenses		79,624			78,647
Impairment of goodwill		61,994			—
Merger costs		40			119
Gain on sales of property and equipment, net		4,264			741
Income (loss) from operations		(31,911	)		35,675
Other income (expense):
Interest expense		(16,030	)		(16,855	)
Other, net		630			532
Total other expense, net		(15,400	)		(16,323	)
Income (loss) before provision (benefit) for income taxes		(47,311	)		19,352
Provision (benefit) for income taxes		(10,343	)		5,109
Net income (loss)	$	(36,968	)	$	14,243
Net income (loss) per common share:
Basic	$	(1.03	)	$	0.40
Diluted	$	(1.03	)	$	0.40
Weighted average common shares outstanding:
Basic		35,965			35,787
Diluted		35,965			35,973
Dividends declared per common share outstanding	$	0.275		$	0.275

The accompanying notes are an integral part of these condensed consolidated financial statements.

`H&E EQUIPMENT SERVICES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(Amounts in thousands)

	Three Months Ended March 31,
	2020			2019
Cash flows from operating activities:
Net income (loss)	$	(36,968	)	$	14,243
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of property and equipment		7,398			6,479
Depreciation of rental equipment		59,986			57,148
Amortization of finance lease right-of-use assets		40			41
Amortization of intangible assets		1,010			952
Amortization of deferred financing costs		251			254
Accretion of note discount, net of premium amortization		120			120
Non-cash operating lease expense		2,821			2,583
Provision for losses on accounts receivable		1,673			1,301
Provision for inventory obsolescence		12			42
Change in deferred income taxes		(9,798	)		4,977
Stock-based compensation expense		1,652			1,188
Impairment of goodwill		61,994			—
Gain from sales of property and equipment, net		(4,264	)		(741	)
Gain from sales of rental equipment, net		(10,567	)		(10,621	)
Changes in operating assets and liabilities, net of acquisitions:
Receivables		21,116			17,605
Inventories		(33,371	)		(58,062	)
Prepaid expenses and other assets		(7,118	)		(2,117	)
Accounts payable		9,533			13,539
Manufacturer flooring plans payable		(7,440	)		2,684
Accrued expenses payable and other liabilities		(23,643	)		(12,574	)
Deferred compensation payable		25			27
Net cash provided by operating activities		34,462			39,068
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired		—			(106,746	)
Purchases of property and equipment		(10,069	)		(7,221	)
Purchases of rental equipment		(19,785	)		(48,644	)
Proceeds from sales of property and equipment		6,880			931
Proceeds from sales of rental equipment		29,056			28,292
Net cash provided by (used in) investing activities		6,082			(133,388	)
Cash flows from financing activities:
Borrowings on senior secured credit facility		299,524			447,503
Payments on senior secured credit facility		(331,482	)		(352,617	)
Dividends paid		(9,863	)		(9,832	)
Purchases of treasury stock		(470	)		(387	)
Payments of deferred financing costs		—			(525	)
Payments of finance lease obligations		(60	)		(57	)
Net cash provided by (used in) financing activities		(42,351	)		84,085
Net decrease in cash		(1,807	)		(10,235	)
Cash, beginning of period		14,247			16,677
Cash, end of period	$	12,440		$	6,442

H&E EQUIPMENT SERVICES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

(Unaudited)

(Amounts in thousands)

	Three Months Ended
	March 31,
	2020			2019
Supplemental schedule of noncash investing and financing activities:
Noncash asset purchases:
Assets transferred from new and used inventory to rental fleet	$	12,680		$	21,112
Purchases of property and equipment included in accrued expenses payable and other liabilities	$	5		$	345
Operating lease right-of-use assets and lease liabilities recorded upon adoption of ASC 842	$	—		$	162,814
Finance lease right-of-use assets and lease liabilities recorded upon adoption of ASC 842	$	—		$	782
Operating lease assets obtained in exchange for new operating lease liabilities	$	15,906		$	8,348
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest	$	29,305		$	29,481
Income taxes paid (net of refunds received)	$	(99	)	$	(519	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

H&E EQUIPMENT SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(1) Organization and Nature of Operations

Basis of Presentation

Our condensed consolidated financial statements include the financial position and results of operations of H&E Equipment Services, Inc. and its wholly-owned subsidiaries H&E Finance Corp., GNE Investments, Inc., Great Northern Equipment, Inc., H&E California Holding, Inc., H&E Equipment Services (California), LLC and H&E Equipment Services (Mid-Atlantic), Inc., collectively referred to herein as “we” or “us” or “our” or the “Company.”

The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such regulations. In the opinion of management, all adjustments (consisting of all normal and recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, and therefore, the results and trends in these interim condensed consolidated financial statements may not be the same for the entire year. These interim condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2019, from which the consolidated balance sheet amounts as of December 31, 2019 were derived.

All significant intercompany accounts and transactions have been eliminated in these condensed consolidated financial statements. Business combinations accounted for as purchases are included in the condensed consolidated financial statements from their respective dates of acquisition.

The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, and consistent with industry practice, the accompanying condensed consolidated balance sheets are presented on an unclassified basis.

Nature of Operations

As one of the largest integrated equipment services companies in the United States focused on heavy construction and industrial equipment, we rent, sell and provide parts and services support for four core categories of specialized equipment: (1) hi-lift or aerial work platform equipment; (2) cranes; (3) earthmoving equipment; and (4) material handling equipment. By providing equipment rental, sales, on-site parts, repair and maintenance functions under one roof, we are a one-stop provider for our customers’ varied equipment needs. This full service approach provides us with multiple points of customer contact, enables us to maintain a high quality rental fleet, as well as an effective distribution channel for fleet disposal and provides cross‑selling opportunities among our new and used equipment sales, rental, parts sales and services operations.

COVID-19

The novel coronavirus (“COVID-19”) was first identified in late 2019. COVID-19 spread rapidly throughout the world and, in March 2020, the World Health Organization characterized COVID-19 as a pandemic. COVID-19 is a pandemic of respiratory disease spreading from person-to-person that poses a serious public health risk. It has significantly disrupted supply chains and businesses around the world. The extent and duration of the COVID-19 impact on our operations and financial position is highly uncertain.

We care about our employees, customers and the communities we serve nationwide, so we took quick and strict action based on CDC and WHO recommendations to combat illness in our workforce and to lessen business interruption for our Company and customers. We have been designated an essential business and our branches remain open to serve our customers. We are very focused on safely providing the equipment, parts, and service that customers need to continue their work.

We began to experience a decline in revenues in March 2020, when rental and sales volumes declined in response to shelter-in-place orders and other end-user market restrictions. We have taken, and will continue to take, the necessary actions to right-size our business in this environment, which is evolving on a daily basis. These actions include headcount reductions, modified work

schedules reducing hours where needed, furloughs in selected branch locations, as well as appropriate adjustments to our capital spending plans.

(2) Significant Accounting Policies

We describe our significant accounting policies in note 2 of the notes to consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2019. During the three month period ended March 31, 2020, there were no significant changes to those accounting policies.

Use of Estimates

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, which requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. These assumptions and estimates could have a material effect on our condensed consolidated financial statements. Actual results may differ materially from those estimates. We review our estimates on an ongoing basis based on information currently available, and changes in facts and circumstances may cause us to revise these estimates.

Revenue Recognition

Under Topic 606, Revenue from Contracts with Customers, revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. As described below and in note 12 to these consolidated financial statements, we adopted Topic 842, Leases, on January 1, 2019. We recognize revenue in accordance with two different accounting standards: 1) Topic 606 and 2) Topic 842.

Under Topic 606, revenue from contracts with customers is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer. Our contracts with customers generally do not include multiple performance obligations. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services.

In the table below, revenue as presented in our condensed consolidated statement of operations for the three month periods ended March 31, 2020 and 2019 is summarized by type and by the applicable accounting standard.

	Three Month Period Ended March 31,
	2020						2019
	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Rental revenues
Owned equipment rentals	$	153,670	$	258	$	153,928	$	153,350	$	274	$	153,624
Re-rent revenue		4,690		—		4,690		6,036		—		6,036
Ancillary and other rental revenues:

Price	28.62	EPS	3
Shares	36	P/E	11
MCap	1,032	P/FCF	5
Net Debt	-11	EBIT	166
TEV	1,021	TEV/EBIT	6
TTM 2019-09-30, in MM, except price, ratios

10-Q	2020-03-31	Filed 2020-05-08
10-K	2019-12-31	Filed 2020-02-20
10-Q	2019-09-30	Filed 2019-10-25
10-Q	2019-06-30	Filed 2019-07-25
10-Q	2019-03-31	Filed 2019-04-26
10-K	2018-12-31	Filed 2019-02-21
10-Q	2018-09-30	Filed 2018-10-25
10-Q	2018-06-30	Filed 2018-07-26
10-Q	2018-03-31	Filed 2018-04-27
10-K	2017-12-31	Filed 2018-02-22
10-Q	2017-09-30	Filed 2017-10-26
10-Q	2017-06-30	Filed 2017-07-27
10-Q	2017-03-31	Filed 2017-04-27
10-K	2016-12-31	Filed 2017-02-23
10-Q	2016-09-30	Filed 2016-10-27
10-Q	2016-06-30	Filed 2016-07-28
10-Q	2016-03-31	Filed 2016-04-28
10-K	2015-12-31	Filed 2016-02-25
10-Q	2015-09-30	Filed 2015-10-29
10-Q	2015-06-30	Filed 2015-07-30
10-Q	2015-03-31	Filed 2015-04-30
10-K	2014-12-31	Filed 2015-02-26
10-Q	2014-09-30	Filed 2014-10-30
10-Q	2014-06-30	Filed 2014-07-31
10-Q	2014-03-31	Filed 2014-05-01
10-K	2013-12-31	Filed 2014-02-28
10-Q	2013-09-30	Filed 2013-11-01
10-Q	2013-06-30	Filed 2013-08-01
10-Q	2013-03-31	Filed 2013-05-02
10-K	2012-12-31	Filed 2013-03-05
10-Q	2012-09-30	Filed 2012-11-01
10-Q	2012-06-30	Filed 2012-08-02
10-Q	2012-03-31	Filed 2012-05-03
10-K	2011-12-31	Filed 2012-03-02
10-Q	2011-09-30	Filed 2011-11-03
10-Q	2011-06-30	Filed 2011-08-04
10-Q	2011-03-31	Filed 2011-05-05
10-K	2010-12-31	Filed 2011-03-03
10-Q	2010-09-30	Filed 2010-11-05
10-Q	2010-06-30	Filed 2010-08-06
10-Q	2010-03-31	Filed 2010-05-07
10-K	2009-12-31	Filed 2010-03-05

8-K	2020-05-19	Regulation FD, Exhibits
8-K	2020-05-19	Shareholder Vote, Exhibits
8-K	2020-05-08	Earnings, Other Events, Exhibits
8-K	2020-02-20	Earnings, Other Events, Exhibits
8-K	2020-02-14	Regulation FD, Exhibits
8-K	2019-11-12	Regulation FD, Exhibits
8-K	2019-10-24	Earnings, Other Events, Exhibits
8-K	2019-09-11	Regulation FD
8-K	2019-08-29	Amend Bylaw, Exhibits
8-K	2019-08-14	Regulation FD, Exhibits
8-K	2019-07-25	Earnings, Other Events, Exhibits
8-K	2019-05-15	Regulation FD
8-K	2019-05-10	Shareholder Vote
8-K	2019-05-10	Regulation FD, Exhibits
8-K	2019-04-25	Earnings, Other Events, Exhibits
8-K	2019-03-06	Regulation FD
8-K	2019-02-21	Earnings, Other Events, Exhibits
8-K	2019-02-08	Regulation FD, Exhibits
8-K	2019-02-01	Enter Agreement, Off-BS Arrangement, Exhibits
8-K	2018-11-07	Regulation FD, Exhibits
8-K	2018-11-06	Officers, Other Events, Exhibits
8-K	2018-10-25	Earnings, Other Events, Exhibits
8-K	2018-08-15	Regulation FD
8-K	2018-08-07	Regulation FD, Exhibits
8-K	2018-07-26	Earnings, Other Events, Exhibits
8-K	2018-05-15	Regulation FD, Exhibits
8-K	2018-05-15	Shareholder Vote
8-K	2018-05-08	Regulation FD
8-K	2018-04-26	Earnings, Other Events, Exhibits
8-K	2018-03-09	Regulation FD
8-K	2018-02-22	Earnings, Other Events, Exhibits
8-K	2018-02-16	Regulation FD, Exhibits

EX-31.1	hees-ex311_7.htm
EX-31.2	hees-ex312_6.htm
EX-32.1	hees-ex321_8.htm

HEES 10Q Quarterly Report

H&E Equipment Services Earnings 2020-03-31