8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 20, 2023

HERC HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Delaware	001-33139	20-3530539
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S Employer Identification No.)

27500 Riverview Center Blvd.

Bonita Springs, Florida 34134

(Address of principal executive offices and zip code)

(239) 301-1000

(Registrant's telephone number,

including area code)

N/A

(Former name or former address, if

changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐       Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐         Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐       Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

Title of each class	Trading Symbol(s)	Name of exchange on which registered
Common Stock, par value $0.01 per share	HRI	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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.  ☐

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ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On April 20, 2023, Herc Holdings Inc. (the “Company”) issued a press release regarding its financial results for its first quarter ended March 31, 2023. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.

On April 20, 2023, the Company will conduct an earnings webcast relating to the Company’s financial results for the first quarter of 2023. The earnings webcast will be made available to the public via a link on the Investor Relations section of the Company's website, IR.HercRentals.com, as well as via telephone dial-in, and the slides that will accompany the presentation will be available to the public at the time of the earnings webcast through the Company’s website. Certain financial information relating to completed fiscal periods that will be part of the earnings webcast is included in the set of slides that will accompany the earnings webcast, a copy of which is furnished as Exhibit 99.2 to this Form 8-K.

The information in this Form 8-K and the exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibit Number	Description
99.1	Press Release of Herc Holdings Inc. dated April 20, 2023 describing its results for its first quarter ended March 31, 2023.
99.2	Set of slides that will accompany the April 20, 2023 earnings webcast.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HERC HOLDINGS INC.
(Registrant)
By:	/s/ MARK HUMPHREY
Name:	Mark Humphrey
Title:	Senior Vice President and Chief Financial Officer

Date:  April 20, 2023

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EX-99.1

Herc Holdings Reports Record First Quarter 2023 Results

and Affirms 2023 Full Year Guidance

First Quarter Highlights

–Record equipment rental revenue of $654 million, an increase of 24%

–Record total revenues of $740 million, an increase of 30%

–Net income increased 16% to $67 million, or $2.28 per diluted share

–Adjusted EBITDA of $308 million increased 30%; adjusted EBITDA margin at 41.6%

–Rental pricing increased 7.0% year-over-year

–Common stock repurchases of approximately 460,000 shares

Bonita Springs, Fla., April 20, 2023 -- Herc Holdings Inc. (NYSE: HRI) ("Herc Holdings" or the "Company") today reported financial results for the quarter ended March 31, 2023. Equipment rental revenue was $654 million and total revenues were $740 million in the first quarter of 2023, compared to $527 million and $568 million, respectively, for the same period last year. In the first quarter of 2023, the Company reported net income of $67 million, or $2.28 per diluted share, an increase of 19% compared to $58 million, or $1.92 per diluted share, in the same 2022 period.

"We continue to build on our momentum coming out of 2022 with record first quarter revenue that significantly outpaced industry growth," said Larry Silber, president and chief executive officer. "Higher rental rates are more than offsetting inflation, while demand across regions and in our end markets is seasonally strong, benefiting from the multi-year fiscal stimulus, re-shoring and mega projects, as well as long-term industrial maintenance contracts for on-site fleet management.

Silber continued, "While macro concerns are focused on residential and commercial construction, we have very diversified end markets, with growing share in manufacturing and reshoring projects, the private and government spend in infrastructure, as well as industrial MRO, which is required in all economic environments. Investments to capitalize on these opportunities are strategic and disciplined, whether it be in fleet, people or acquisitions. As a tenured market leader with a strong reputation, a comprehensive product and service offering, broad capabilities and one of the leading teams in the industry, we will continue to execute on our strategies to win new business and deliver profitable growth."

2023 First Quarter Financial Results

•Total revenues increased 30% to $740 million compared to $568 million in the prior-year period. The year-over-year increase of $172 million primarily related to an increase in equipment rental revenue of $127 million, reflecting positive pricing of 7.0% and increased volume of 23.2%. Sales of rental equipment increased by $43 million during the period.

•Dollar utilization was 39.7% compared to 41.4% in the prior-year period. The change is primarily due to a slowdown in the studio entertainment business as a result of a potential writers' strike, as well as the Company's decision to continue to accept equipment deliveries in the seasonally slow fourth quarter 2022 and first quarter 2023, in order to ensure it has the fleet needed for the more robust construction season. Continued supply chain challenges have disrupted the optimal cadence of deliveries.

•Direct operating expenses of $281 million increased 24% compared to the prior-year period. The increase was primarily related to strong rental activity and associated additional headcount, in addition to higher maintenance, fuel prices and facilities expenses.

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•Depreciation of rental equipment increased 28% to $152 million due to higher year-over-year average fleet size. Non-rental depreciation and amortization increased 24% to $26 million primarily due to amortization of acquisition intangible assets.

•Selling, general and administrative expenses was 19% higher primarily due to increases in selling expenses, including commissions and other variable compensation increases, and general payroll and benefits.

•Interest expense increased to $48 million compared with $23 million in the prior-year period due to increased borrowings on the ABL Credit Facility primarily to fund acquisition growth and higher interest rates on floating rate debt.

•Net income was $67 million compared to $58 million in the prior-year period. Adjusted net income increased 17% to $69 million, or $2.35 per diluted share, compared to $59 million, or $1.95 per diluted share, in the prior-year period. The effective tax rate was 11% compared to 13% in the prior-year period.

•Adjusted EBITDA increased 30% to $308 million compared to $237 million in the prior-year period, while adjusted EBITDA margin was 41.6% compared to 41.7% in the prior-year period. Sales of used equipment, which more than doubled over last year's first quarter sales, as well as a decline in the Company's studio entertainment revenue year over year impacted the margin performance in the latest quarter.

Rental Fleet

Net rental equipment capital expenditures were as follows (in millions):

	Three Months Ended March 31,
	2023		2022
Rental equipment expenditures	$	332	$	287
Proceeds from disposal of rental equipment	(49)		(29)
Net rental equipment capital expenditures	$	283	$	258

•As of March 31, 2023, the Company's total fleet was approximately $5.9 billion at OEC.

•Average fleet at OEC in the first quarter increased year-over-year by 29% compared to the prior-year period.

•Average fleet age was 47 months as of March 31, 2023, compared to 48 months in the comparable prior-year period.

Disciplined Capital Management

•The Company completed three acquisitions with a total of six locations and opened three new greenfield locations during the quarter.

•Net debt was $3.2 billion as of March 31, 2023, with net leverage of 2.5x compared to 2.3x in the same prior-year period. Cash and cash equivalents and unused commitments under the ABL Credit Facility contributed to $1.5 billion of liquidity as of March 31, 2023.

•The Company announced a 10% increase in the quarterly dividend to $0.6325, payable to shareholders of record as of February 22, 2023, with a payment date of March 9, 2023.

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•The Company acquired approximately 460,000 shares of its common stock for $52 million during the three months ended March 31, 2023. As of March 31, 2023, approximately $229 million remains available under the share repurchase program.

Outlook

The Company is affirming its full year 2023 adjusted EBITDA guidance range and net rental capital expenditures guidance presented below. The guidance range for the full year 2023 adjusted EBITDA reflects an increase of 18% to 26% compared to full year 2022 results.

Adjusted EBITDA:	$1.45 billion to $1.55 billion
Net rental equipment capital expenditures:	$1.0 billion to $1.2 billion

As a leader in an industry where scale matters, the Company expects to continue to gain share by capturing an outsized position of the forecasted higher construction spending in 2023 by investing in its fleet, capitalizing on strategic acquisitions and greenfield opportunities, and cross-selling a diversified product portfolio.

Earnings Call and Webcast Information

Herc Holdings' first quarter 2023 earnings webcast will be held today at 8:30 a.m. U.S. Eastern Time. Interested U.S. parties may call +1-888-660-6011 and international participants should call the country specific dial in numbers listed athttps://events.q4irportal.com/custom/access/2324/, using the access code: 7812157. Please dial in at least 10 minutes before the call start time to ensure that you are connected to the call and to register your name and company.

Those who wish to listen to the live conference call and view the accompanying presentation slides should visit the Events and Presentations tab of the Investor Relations section of the Company's website at IR.HercRentals.com. The press release and presentation slides for the call will be posted to this section of the website prior to the call.

A replay of the conference call will be available via webcast on the Company website at IR.HercRentals.com, where it will be archived for 12 months after the call.

About Herc Holdings Inc.

Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with 364 locations in North America. With over 57 years of experience, we are a full-line equipment rental supplier offering a broad portfolio of equipment for rent. Our classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. Our equipment rental business is supported by ProSolutions®, our industry-specific solutions-based services, which includes power generation, climate control, remediation and restoration, pumps, trench shoring, and studio and production equipment, and our ProContractor professional grade tools. Our product offerings and services are aimed at helping customers work more efficiently, effectively and safely. The Company has approximately 6,700 employees who equip our customers and communities to build a brighter future. Herc Holdings’ 2022 total revenues were approximately $2.7 billion. All references to “Herc Holdings” or the “Company” in this press release refer to Herc Holdings Inc. and its subsidiaries, unless otherwise indicated. For more information on Herc Holdings and its products and services, visit: www.HercRentals.com.

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Certain Additional Information

In this release we refer to the following operating measures:

•Dollar utilization: calculated by dividing rental revenue (excluding re-rent, delivery, pick-up and other ancillary revenue) by the average OEC of the equipment fleet for the relevant time period, based on the guidelines of the American Rental Association (ARA).

•OEC: original equipment cost based on the guidelines of the ARA, which is calculated as the cost of the asset at the time it was first purchased plus additional capitalized refurbishment costs (with the basis of refurbished assets reset at the refurbishment date).

Forward-Looking Statements

This press release includes forward-looking statements as that term is defined by the federal securities laws, including statements concerning our business plans and strategy, projected profitability, performance or cash flows, future capital expenditures, our growth strategy, including our ability to grow organically and through M&A, anticipated financing needs, business trends, our capital allocation strategy, liquidity and capital management, and other information that is not historical information. Forward looking statements are generally identified by the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts," "looks," and future or conditional verbs, such as "will," "should," "could" or "may," as well as variations of such words or similar expressions. All forward-looking statements are based upon our current expectations and various assumptions and, there can be no assurance that our current expectations will be achieved. They are subject to future events, risks and uncertainties - many of which are beyond our control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on the risks that may affect our business is included in filings we make with the Securities and Exchange Commission from time to time, including our most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and in our other SEC filings. We undertake no obligation to update or revise forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

Information Regarding Non-GAAP Financial Measures

In addition to results calculated according to accounting principles generally accepted in the United States (“GAAP”), the Company has provided certain information in this release that is not calculated according to GAAP (“non-GAAP”), such as EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted earnings per diluted common share and free cash flow. Management uses these non-GAAP measures to evaluate operating performance and period-over-period performance of our core business without regard to potential distortions, and believes that investors will likewise find these non-GAAP measures useful in evaluating the Company’s performance. These measures are frequently used by security analysts, institutional investors and other interested parties in the evaluation of companies in our industry. Non-GAAP measures should not be considered in isolation or as a substitute for our reported results prepared in accordance with GAAP and, as calculated, may not be comparable to similarly titled measures of other companies. For the definitions of these terms, further information about management’s use of these measures as well as a reconciliation of these non-GAAP measures to the most comparable GAAP financial measures, please see the supplemental schedules that accompany this release.

(See Accompanying Tables)

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HERC HOLDINGS INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Unaudited

(In millions, except per share data)

	Three Months Ended March 31,
	2023		2022
Revenues:
Equipment rental	$	654	$	527
Sales of rental equipment	71		28
Sales of new equipment, parts and supplies	8		8
Service and other revenue	7		5
Total revenues	740		568
Expenses:
Direct operating	281		226
Depreciation of rental equipment	152		119
Cost of sales of rental equipment	46		19
Cost of sales of new equipment, parts and supplies	5		5
Selling, general and administrative	106		89
Non-rental depreciation and amortization	26		21
Interest expense, net	48		23
Other expense (income), net	1		(1)
Total expenses	665		501
Income before income taxes	75		67
Income tax provision	(8)		(9)
Net income	$	67	$	58
Weighted average shares outstanding:
Basic	29.0		29.8
Diluted	29.4		30.4
Earnings per share:
Basic	$	2.31	$	1.96
Diluted	$	2.28	$	1.92

A - 1

HERC HOLDINGS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

Unaudited

(In millions)

	March 31, 2023		December 31, 2022
ASSETS
Cash and cash equivalents	$	40	$	54
Receivables, net of allowances	514		523
Other current assets	71		67
Total current assets	625		644
Rental equipment, net	3,699		3,485
Property and equipment, net	415		392
Right-of-use lease assets	597		552
Goodwill and intangible assets, net	907		850
Other long-term assets	33		34
Total assets	$	6,276	$	5,957
LIABILITIES AND EQUITY
Current maturities of long-term debt and financing obligations	$	16	$	16
Current maturities of operating lease liabilities	43		42
Accounts payable	348		318
Accrued liabilities	186		228
Total current liabilities	593		604
Long-term debt, net	3,215		2,922
Financing obligations, net	107		108
Operating lease liabilities	573		528
Deferred tax liabilities	655		647
Other long term liabilities	46		40
Total liabilities	5,189		4,849
Total equity	1,087		1,108
Total liabilities and equity	$	6,276	$	5,957

A - 2

HERC HOLDINGS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Unaudited

(In millions)

	Three Months Ended March 31,
	2023		2022
Cash flows from operating activities:
Net income	$	67	$	58
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of rental equipment	152		119
Depreciation of property and equipment	17		15
Amortization of intangible assets	9		6
Amortization of deferred debt and financing obligations costs	1		1
Stock-based compensation charges	4		6
Provision for receivables allowances	13		9
Deferred taxes	3		5
Gain on sale of rental equipment	(25)		(9)
Other	2		1
Changes in assets and liabilities:
Receivables	13		(23)
Other assets	(2)		(8)
Accounts payable	8		(9)
Accrued liabilities and other long-term liabilities	(27)		(28)
Net cash provided by operating activities	235		143
Cash flows from investing activities:
Rental equipment expenditures	(332)		(287)
Proceeds from disposal of rental equipment	49		29
Non-rental capital expenditures	(33)		(13)
Proceeds from disposal of property and equipment	3		2
Acquisitions, net of cash acquired	(138)		(73)
Other investing activities	—		(5)
Net cash used in investing activities	(451)		(347)
Cash flows from financing activities:
Proceeds from revolving lines of credit and securitization	640		345
Repayments on revolving lines of credit and securitization	(347)		(118)
Principal payments under finance lease and financing obligations	(4)		(4)
Dividends paid	(20)		(17)
Repurchase of common stock	(44)		—
Other financing activities, net	(23)		(14)
Net cash provided by financing activities	202		192
Effect of foreign exchange rate changes on cash and cash equivalents	—		—
Net change in cash and cash equivalents during the period	(14)		(12)
Cash and cash equivalents at beginning of period	54		35
Cash and cash equivalents at end of period	$	40	$	23

A - 3

HERC HOLDINGS INC. AND SUBSIDIARIES

SUPPLEMENTAL SCHEDULES

EBITDA AND ADJUSTED EBITDA RECONCILIATIONS

Unaudited

(In millions)

EBITDA and adjusted EBITDA - EBITDA represents the sum of net income (loss), provision (benefit) for income taxes, interest expense, net, depreciation of rental equipment and non-rental depreciation and amortization. Adjusted EBITDA represents EBITDA plus the sum of merger and acquisition related costs, restructuring and restructuring related charges, spin-off costs, non-cash stock-based compensation charges, loss on extinguishment of debt (which is included in interest expense, net), impairment charges, gain (loss) on the disposal of a business and certain other items. EBITDA and adjusted EBITDA do not purport to be alternatives to net income as an indicator of operating performance. Additionally, neither measure purports to be an alternative to cash flows from operating activities as a measure of liquidity, as they do not consider certain cash requirements such as interest payments and tax payments.

Adjusted EBITDA Margin - Adjusted EBITDA Margin, calculated by dividing Adjusted EBITDA by Total Revenues, is a commonly used profitability ratio.

	Three Months Ended March 31,
	2023			2022
Net income	$	67		$	58
Income tax provision	8			9
Interest expense, net	48			23
Depreciation of rental equipment	152			119
Non-rental depreciation and amortization	26			21
EBITDA	301			230
Non-cash stock-based compensation charges	4			6
Merger and acquisition related costs	2			1
Other	1			—
Adjusted EBITDA	$	308		$	237
Total revenues	$	740		$	568
Adjusted EBITDA	$	308		$	237
Adjusted EBITDA margin	41.6		%	41.7		%

A - 4

HERC HOLDINGS INC. AND SUBSIDIARIES

SUPPLEMENTAL SCHEDULES

ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER DILUTED SHARE

Unaudited

(In millions)

Adjusted Net Income and Adjusted Earnings Per Diluted Share - Adjusted Net Income represents the sum of net income (loss), restructuring and restructuring related charges, spin-off costs, loss on extinguishment of debt, impairment charges, merger and acquisition-related costs, gain (loss) on the disposal of a business and certain other items. Adjusted Earnings per Diluted Share represents Adjusted Net Income divided by diluted shares outstanding. Adjusted Net Income and Adjusted Earnings Per Diluted Share are important measures to evaluate our results of operations between periods on a more comparable basis and to help investors analyze underlying trends in our business, evaluate the performance of our business both on an absolute basis and relative to our peers and the broader market, provide useful information to both management and investors by excluding certain items that may not be indicative of our core operating results and operational strength of our business.

	Three Months Ended March 31,
	2023		2022
Net income	$	67	$	58
Merger and acquisition related costs	2		1
Other	1		—
Tax impact of adjustments(1)	(1)		—
Adjusted net income	$	69	$	59
Diluted shares outstanding	29.4		30.4
Adjusted earnings per diluted share	$	2.35	$	1.95

(1) The tax rate applied for adjustments is 25.7% and reflects the statutory rates in the applicable entities.

A - 5

HERC HOLDINGS INC. AND SUBSIDIARIES

SUPPLEMENTAL SCHEDULES

FREE CASH FLOW

Unaudited

(In millions)

Free cash flow represents net cash provided by (used in) operating activities less rental equipment expenditures and non-rental capital expenditures, plus proceeds from disposal of rental equipment, proceeds from disposal of property and equipment, and other investing activities. Free cash flow is used by management in analyzing the Company’s ability to service and repay its debt, fund potential acquisitions and to forecast future periods. However, this measure does not represent funds available for investment or other discretionary uses since it does not deduct cash used to service debt or for other non-discretionary expenditures.

	Three Months Ended March 31,
	2023		2022
Net cash provided by operating activities	$	235	$	143
Rental equipment expenditures	(332)		(287)
Proceeds from disposal of rental equipment	49		29
Net rental equipment expenditures	(283)		(258)
Non-rental capital expenditures	(33)		(13)
Proceeds from disposal of property and equipment	3		2
Other	—		(5)
Free cash flow	$	(78)	$	(131)
Acquisitions, net of cash acquired	(138)		(73)
Increase in net debt, excluding financing activities	$	(216)	$	(204)

A - 6

EX-99.2

©2021 Herc Rentals Inc. All Rights Reserved. Shifting Into High Gear

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 2 Larry Silber President & Chief Executive Officer Herc Rentals Team & Agenda Aaron Birnbaum Senior Vice President & Chief Operating Officer Agenda • Safe Harbor • Q1 2023 Overview • Q1 Operations Review • Q1 Financial Review • 2023 Outlook • Q&A Leslie Hunziker Senior Vice President Investor Relations & Communications Mark Humphrey Senior Vice President & Chief Financial Officer

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 3 Safe Harbor Statements and Non-GAAP Financial Measures Forward-Looking Statements This presentation includes forward-looking statements as that term is defined by the federal securities laws, including statements concerning our business plans and strategy, projected profitability, performance or cash flows, future capital expenditures, our growth strategy, including our ability to grow organically and through M&A, anticipated financing needs, business trends, our capital allocation strategy, liquidity and capital management, and other information that is not historical information. Forward looking statements are generally identified by the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts," "looks," and future or conditional verbs, such as "will," "should," "could" or "may," as well as variations of such words or similar expressions. All forward- looking statements are based upon our current expectations and various assumptions and, there can be no assurance that our current expectations will be achieved. They are subject to future events, risks and uncertainties - many of which are beyond our control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on the risks that may affect our business is included in filings we make with the Securities and Exchange Commission from time to time, including our most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and in our other SEC filings. We undertake no obligation to update or revise forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Information Regarding Non-GAAP Financial Measures In addition to results calculated according to accounting principles generally accepted in the United States (“GAAP”), the Company has provided certain information in this presentation that is not calculated according to GAAP (“non- GAAP”), such as adjusted net income, adjusted earnings per diluted share, EBITDA, adjusted EBITDA, adjusted EBITDA margin, REBITDA, REBITDA margin, REBITDA flow-through and free cash flow. Management uses these non-GAAP measures to evaluate operating performance and period-over-period performance of our core business without regard to potential distortions, and believes that investors will likewise find these non-GAAP measures useful in evaluating the Company’s performance. These measures are frequently used by security analysts, institutional investors and other interested parties in the evaluation of companies in our industry. Non-GAAP measures should not be considered in isolation or as a substitute for our reported results prepared in accordance with GAAP and, as calculated, may not be comparable to similarly titled measures of other companies. For the definitions of these terms, further information about management’s use of these measures as well as a reconciliation of these non-GAAP measures to the most comparable GAAP financial measures, please see the appendix that accompanies this presentation.

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 4 Rental Revenue $378 $387 $400 $527 $654 2019 2020 2021 2022 2023 Total Revenues $476 $437 $453 $568 $740 2019 2020 2021 2022 2023 Adjusted EBITDA¹ $142 $146 $184 $237 $308 2019 2020 2021 2022 2023 29.9% 33.9% 40.7% 41.7% 41.6% 2019 2020 2021 2022 2023 $1.09 $1.92 $2.28 24% 30%30% $ in millions $ in millions $ in millions 19% Adjusted EBITDA Margin¹Earnings Per Diluted Share ROIC2 1. For a reconciliation to the most comparable GAAP financial measure, see the Appendix beginning on Slide 20 2. The company’s ROIC metric uses after-tax operating income for the trailing 12 months divided by average stockholders’ equity, debt and deferred taxes, net of average cash. To mitigate the volatility related to fluctuations in the company’s tax rate from period to period, the U.S. federal corporate statutory tax rate of 21% was used to calculate after-tax operating income. 5.5% 6.1% 6.3% 9.8% 10.6% 2019 2020 2021 2022 2023 First Quarter Financial Highlights: Accelerating Performance $(0.23) $(0.13) 2019 2020 2021 2022 2023

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 5 Equipment rental market in N.A. grew 6%1 in Q1 2023 • Return to 1Q normal seasonal demand across regions, end markets • Shift from equipment ownership to rental continues • Supply chain constraints persist • Ongoing industry rate discipline contributed to positive trends HRI equipment rental revenue grew 24% in Q1 2023 • Record 1Q rental rate growth at 7% YoY • Seasonal demand as expected across all regions, equipment categories • Double-digit growth across core fleet categories and Pro-Solutions offerings • Strategic acquisitions contributed 25% of YoY growth HRI Total revenues grew 30% in Q1 2023 • Strong used equipment market; disposals increase with fleet life cycle management First Quarter 2023 Highlights 1. Source: ARA / IHS Global Insights as of February 2023

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 6 Optimize branch network for fleet / operating efficiencies at scale • Completed 3 acquisitions - 6 locations; opened 3 greenfield locations Enhance fleet mix • Expanded high-margin specialty fleet by 27% at OEC YoY Support customers’ efficiency goals through data and telematics • Rolling out advanced customer-facing digital capabilities: ProControl Next Gen™ Commit to purposeful, integrated and evolving ESG goals • Recognized as a Great Place to Work Certified™ Company in Canada • Maintained Safety TRIR at best-in-class level Prioritize Capital and Invest Responsibly • Disciplined investment in fleet and strategic M&A • Repurchased ~460,000 shares; raised quarterly dividend 10% Q1 2023: Delivering on Growth Strategies Grow the Core Expand Specialty Elevate Technology Integrate ESG Allocate Capital Strategies to Accelerate ROIC and Increase Shareholder Returns:

Operations Review Aaron Birnbaum Senior Vice President and Chief Operating Officer

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 8 Q1 2023 Focusing on Safety Herc's Safety Program integrated into all acquisitions Total Recordable Incident Rate Improved to 0.45 Continuing focus on Perfect Days • All branches reported > 97% Perfect Days • Perfect Days are those with no: ◦ OSHA reportable incidents ◦ At-fault moving vehicle accidents ◦ DOT violations

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 9 Delivering on Growth Strategies Expanding Through Acquisitions Adding locations though acquisitions increases density and market share in urban markets • Q1: 3 acquisitions - 6 locations; 3 greenfield locations opened • Q1 2023 acquisitions in top 50 MSAs in the U.S. Synergies through cross selling of adjacent product lines, fleet efficiencies and rate improvement Acquiring talented workforce and local customer relationships Average EBITDA Multiple to date ~5.5x Synergized Multiple Opportunity 3.5x - 4.5x Strategic M&A Opportunity ~$500 million per year Pipeline of acquisition opportunities remains strong

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 10 Equipment rental revenue +24%; Q1 record $654 million 1Q:23 demand in line with normal seasonal expectations Core business continues to benefit from solid operating performance across all regions ProSolutions contributing significant revenue growth YoY Pricing tools support discipline and greater market insight Average fleet at OEC increased 29% in Q1 2023 • Supply still constrained for core fleet • Took delivery of delayed 2022 orders in Q1:23 to ensure supply for peak season Delivering on Growth Strategies

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 11 Diversifying Fleet to Enhance Utilization Specialty 24% Aerial 23% Earthmoving 13% Material Handling 17% Other 23% 1. Original equipment cost based on ARA guidelines. As of March 31, 2023. Fleet Expenditures at OEC1 Fleet Composition $5.9 billion at OEC1 $253 $327 $311 $327$348 2022 2023 Q1 Q2 Q3 Q4 $64 $64 $54 $140$144 2022 2023 Q1 Q2 Q3 Q4 Fleet Disposals at OEC1 $ in millions $ in millions Fleet disposals at OEC in Q1 2023 were $144 million, generating ~52% proceeds as a percent of OEC Average age of disposals was 90 months in Q1 2023 Average fleet age of 47 months at March 31, 2023

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 12 Business Model Driving Growth Q1 Local vs. National Mix National: 45% Local: 55% • Diverse customer mix and base of large national customers drives sales strategy and growth opportunities ◦ 1Q:23 RFP cadence remains strong ◦ EV, semi-conductor, petrochemical, food & beverage, LNG plants, MRO • 1Q:23 new local-customer account revenue continued to be a solid source of growth ◦ Roads, healthcare, schools, data centers, utilities Industrial Chip manufacturing Electric vehicle manufacturing Energy Petrochemical Industrial plant maintenance Infrastructure Airports Roads, bridges and tunnels Transmission & distribution High-speed rail LNG investments Renewable energy Underground utilities Flood control Specialty Climate control Emergency response Power generation Pumping solutions Trench solutions

Financial Review Mark Humphrey Senior Vice President and Chief Financial Officer

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 14 Q1 2023 Financial Results Three Months Ended March 31, $ in millions, except per share data 2023 2022 2023 vs 2022 % Change Equipment Rental Revenue $654 $527 24% Total Revenues $740 $568 30% Net Income $67 $58 16% Earnings Per Diluted Share $2.28 $1.92 19% Adjusted Net Income1 $69 $59 17% Adjusted Earnings Per Diluted Share1 $2.35 $1.95 21% Adjusted EBITDA1 $308 $237 30% Adjusted EBITDA Margin1 41.6% 41.7% (10) bps REBITDA Margin1,2 42.4% 42.3% 10 bps REBITDA YoY Flow-Through1,2 42.6% 37.6% 500 bps Average Fleet3 (YoY) 29.3% 23.4% 590 bps Pricing3 (YoY) 7.0% 4.3% 270 bps ROIC 10.6% 9.8% 80 bps 1. For a reconciliation to the most comparable GAAP financial measure, see the Appendix beginning on Slide 20 2. REBITDA measures contribution from our core rental business without impact of sales of equipment, parts and supplies 3. Based on ARA guidelines

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 15 Pricing and Utilization Performance Pricing1 4.3% 5.5% 6.2% 6.6% 7.0% 2022 2023 Q1 Q2 Q3 Q4 YoY Fleet Growth and On Rent at OEC1 23.2% 29.3% Avg. Fleet On Rent Avg. Fleet Q1 Q2 Q3 Q4 $ Utilization2 41.4% 42.5% 45.3% 43.5% 39.7% 2022 2023 Q1 Q2 Q3 Q4 1. YoY Change. Based on ARA guidelines. 2. Based on ARA guidelines Fleet growth outpaced fleet on rent as continued supply chain challenges have disrupted the optimal cadence of deliveries Continued fleet deliveries ensure capacity for upcoming construction season Dollar utilization impacted by fleet deliveries into the seasonally slower first quarter

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 16 Disciplined Capital Management Maturities As of March 31, 2023 $ in millions $1,200 $1,673 $295 2023 2024 2025 2026 2027 No near-term maturities and ample liquidity2 of $1.5 billion provide financial flexibility Net capital expenditures outpaced cash flow from operations due to investments in growth, resulting in free cash outflow of $78 million for the first quarter Net leverage3 of 2.5x, compared with 2.4x in December 2022, within target range of 2.0x to 3.0x Quarterly dividend increased by 10% to $0.6325 per share, paid on March 9, 2023 to shareholders of record as of February 22, 2023 Q1 share repurchases of ~460,000 shares for $52 million Credit Ratings: Moody's upgraded HRI to Ba2 1. The AR Facility is excluded from current maturities of long-term debt as the Company has the intent and ability to consummate refinancing and extend the term of the agreement 2. Total liquidity includes cash and cash equivalents and the unused commitments under the ABL Credit Facility and AR Facility 3. For a definition and calculation, see the Appendix beginning on Slide 20 $64 Finance Leases 2023-2030 AR Facility1 ABL Credit Facility Senior Unsecured Notes Credit Ratings: Moody’s CFR Ba2 S&P BB-/Stable

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 17 Continued Strength in Key End Markets N.A. Equipment Rental Market1 $45 $47 $49 $52 $55 $50 $54 $61 $63 $65 $67 $70 15 16 17 18 19 20 21 22 23E 24E 25E 26E 1. Source: ARA / IHS Global Insights as of February 2023 3. Source: American Institute of Architects (AIA) as of March 2023 2. Source: IIR as of February 2023 4. Source: Dodge Analytics U.S. as of January 2023 $ in billions Industrial Spending2 $303 $299 $310 $317 $329 $308 $318 $352 $397 $386 $371 $372 15 16 17 18 19 20 21 22 23E 24E 25E 26E $ in billions Non-Residential Starts4 $229 $258 $288 $298 $317 $260 $300 $427 $412 $412 $439 $465 15 16 17 18 19 20 21 22 23E 24E 25E 26E $ in billions — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — Architecture Billings Index3 15 16 17 18 19 20 21 22 Jan-23 March 50.4 50

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 18 Affirming 2023 Guidance Key Assumptions: • Above-market revenue growth on strong project pipeline, geographic expansion, cross-selling, and accelerating opportunities from mega projects, federal infrastructure funding • Disciplined focus supports continued pricing improvements • Fleet sales ramp up; used equipment market remains historically strong • Continued focus on operating leverage to improve margins • REBITDA Flow Through in 50%-60% range • Interest expense rises to reflect Fed rate increases and continued M&A funding • Tax rate ~25% Metric 2022 Actual 2023 Guidance % Change over 2022 Adjusted EBITDA $1,227 million $1.45 billion to $1.55 billion 18% to 26% Net Rental Equipment Expenditures $1,047 million $1.0 billion to $1.2 billion (4)% to 15%

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 19 Purpose, Vision, Mission and Values We equip our customers and communities to build a brighter future

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 20

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 21 Glossary of Terms Commonly Used in the Industry OEC: Original Equipment Cost which is an operating measure based on the guidelines of the American Rental Association (ARA), which is calculated as the cost of the asset at the time it was first purchased plus additional capitalized refurbishment costs (with the basis of refurbished assets reset at the refurbishment date). Fleet Age: The OEC weighted age of the entire fleet, based on ARA guidelines. Net Fleet Capital Expenditures: Capital expenditures of rental equipment minus the proceeds from disposal of rental equipment. Dollar Utilization ($ UT): Dollar utilization is an operating measure calculated by dividing equipment rental revenue (excluding re-rent, delivery, pick-up and other ancillary revenue) by the average OEC of the equipment fleet for the relevant time period, based on ARA guidelines. Pricing: Change in pure pricing achieved in one period versus another period. This is applied both to year-over-year and sequential comparisons. Rental rates are based on ARA guidelines and are calculated based on the category class rate variance achieved either year-over-year or sequentially for any fleet that qualifies for the fleet base and weighted by the prior year revenue mix.

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 22 Our Strategy is Delivering Results Equipment Rental Revenue Adjusted EBITDA1 $1,702 $1,544 $1,910 $2,552 $2,678 2019 2020 2021 2022 TTM 2023 $741 $689 $895 $1,227 $1,298 2019 2020 2021 2022 TTM 2023 Net Leverage2 2.8x 2.4x 2.1x 2.4x 2.5x 2019 2020 2021 2022 Q1 2023 Adjusted EBITDA Margin1 37.1% 38.7% 43.2% 44.8% 44.6% 2019 2020 2021 2022 TTM 2023 $ in millions 1. For a definition and reconciliation to the most comparable GAAP financial measure, see slides 24 and 27 and previously filed presentations 2. For a definition and calculation, see slide 28

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 23 Reconciliation of Net Income and Adjusted Earnings Per Diluted Share Adjusted Net Income and Adjusted Earnings Per Diluted Share - Adjusted Net Income represents the sum of net income, merger and acquisition related costs, restructuring and restructuring related charges, spin-off costs, loss on extinguishment of debt, impairment charges, gain (loss) on the disposal of a business and certain other items. Adjusted Earnings per Diluted Share represents Adjusted Net Income divided by diluted shares outstanding. Adjusted Net Income and Adjusted Earnings Per Diluted Share are important measures to evaluate our results of operations between periods on a more comparable basis and to help investors analyze underlying trends in our business, evaluate the performance of our business both on an absolute basis and relative to our peers and the broader market, provide useful information to both management and investors by excluding certain items that may not be indicative of our core operating results and operational strength of our business. (1) The tax rate applied for adjustments is 25.7% and reflects the statutory rates in the applicable entities Three Months Ended March 31, 2023 2022 Net income $67 $58 Merger and acquisition related costs 2 1 Other 1 — Tax impact of adjustments(1) (1) — Adjusted net income $69 $59 Diluted common shares 29.4 30.4 Adjusted earnings per diluted share $2.35 $1.95

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 24 Reconciliation of Net Income to Adj. EBITDA and Adj. EBITDA Margin, Rental Adj. EBITDA (REBITDA), REBITDA Margin and Flow-Through EBITDA, Adjusted EBITDA, and REBITDA - EBITDA represents the sum of net income, provision (benefit) for income taxes, interest expense, net, depreciation of rental equipment and non-rental depreciation and amortization. Adjusted EBITDA represents EBITDA plus the sum of merger and acquisition related costs, restructuring and restructuring related charges, spin-off costs, non-cash stock based compensation charges, loss on extinguishment of debt (which is included in interest expense, net), impairment charges, gain (loss) on disposal of a business and certain other items. REBITDA represents Adjusted EBITDA excluding the gain (loss) on sales of rental equipment and new equipment, parts and supplies. EBITDA, Adjusted EBITDA and REBITDA do not purport to be alternatives to net income as an indicator of operating performance. Additionally, none of these measures purports to be an alternative to cash flows from operating activities as a measure of liquidity, as they do not consider certain cash requirements such as interest payments and tax payments. Adjusted EBITDA Margin, REBITDA Margin and REBITDA Flow-Through - Adjusted EBITDA Margin (Adjusted EBITDA / Total Revenues) is a commonly used profitability ratio. REBITDA Margin (REBITDA / Equipment rental, service and other revenues) and REBITDA Flow- Through (the year-over-year change in REBITDA/the year-over-year change in Equipment rental, service, and other revenues) are useful operating profitability ratios to management and investors.

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 25 Reconciliation of Net Income to Adj. EBITDA and Adj. EBITDA Margin, Rental Adj. EBITDA (REBITDA), REBITDA Margin and Flow-Through $ in millions Three Months Ended March 31, 2023 2022 Net income $67 $58 Income tax provision 8 9 Interest expense, net 48 23 Depreciation of rental equipment 152 119 Non-rental depreciation and amortization 26 21 EBITDA 301 230 Non-cash stock-based compensation charges 4 6 Merger and acquisition related costs 2 1 Other 1 — Adjusted EBITDA 308 237 Less: Gain (loss) on sales of rental equipment 25 9 Less: Gain (loss) on sales of new equipment, parts and supplies 3 3 Rental Adjusted EBITDA (REBITDA) $280 $225 Total Revenues $740 $568 Less: Sales of rental equipment 71 28 Less: Sales of new equipment, parts and supplies 8 8 Equipment rental, service and other revenues $661 $532 Total Revenues $740 $568 Adjusted EBITDA $308 $237 Adjusted EBITDA Margin 41.6 % 41.7 % Equipment rental, service and other revenues $661 $532 REBITDA $280 $225 REBITDA Margin 42.4 % 42.3 % YOY Change in REBITDA $55 YOY Change in Equipment rental, service and other revenues $129 YOY REBITDA Flow-Through 42.6 %

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 26 REBITDA Margin Quarterly Trend $ in millions Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Q1 2023 Total Revenues $568 $639 $745 $786 $2,738 $740 Less: Sales of rental equipment 28 19 22 57 126 71 Less: Sales of new equipment, parts and supplies 8 9 10 9 36 8 Equipment rental, service and other revenues $532 $611 $713 $720 $2,576 $661 Net income $58 $72 $101 $98 $329 $67 Income tax provision 9 25 34 35 103 8 Interest expense, net 23 25 33 41 122 48 Depreciation of rental equipment 119 130 140 147 536 152 Non-rental depreciation and amortization 21 23 26 26 96 26 EBITDA $230 $275 $334 $347 $1,186 $301 Non-cash stock-based compensation charges 6 5 9 7 27 4 Impairment — 1 — 2 3 — Merger and acquisition related costs 1 2 2 2 7 2 Other(1) — 1 — 3 4 1 Adjusted EBITDA $237 $284 $345 $361 $1,227 $308 Less: Gain on sales of rental equipment 9 5 6 17 37 25 Less: Gain on sales of new equipment, parts and supplies 3 4 4 4 15 3 Rental Adjusted EBITDA (REBITDA) $225 $275 $335 $340 $1,175 $280 REBITDA Margin 42.3 % 45.0 % 47.1 % 47.3 % 45.7 % 42.4 % YOY REBITDA Flow-Through 37.6 % 47.7 % 50.5 % 53.9 % 48.1 % 42.6 % (1) Pension settlement and spin-off costs are included in Other.

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 27 REBITDA Margin Annual Trend $ in millions 2018 2019 2020 2021 2022 Total Revenues $1,978 $1,999 $1,781 $2,074 $2,738 Less: Sales of rental equipment 256 242 198 113 126 Less: Sales of new equipment, parts and supplies 49 44 28 31 36 Equipment rental, service and other revenues $1,673 $1,713 $1,555 $1,930 $2,576 Net income $69 $47 $74 $224 $329 Income tax provision (benefit) — 16 21 67 103 Interest expense, net 137 174 92 86 122 Depreciation of rental equipment 387 410 403 420 536 Non-rental depreciation and amortization 58 62 64 68 96 EBITDA $651 $709 $654 $865 $1,186 Restructuring 5 8 1 — — Spin-off costs 15 — — — 1 Non-cash stock-based compensation charges 14 19 16 23 27 Impairment — 4 15 3 3 Merger and acquisition related costs — — — 3 7 Loss on disposal of business — — 3 — — Other 1 1 — 1 3 Adjusted EBITDA $686 $741 $689 $895 $1,227 Less: Gain (loss) on sales of rental equipment 12 (2) (5) 20 37 Less: Gain on sales of new equipment, parts and supplies 11 11 8 10 15 Rental Adjusted EBITDA (REBITDA) $663 $732 $686 $865 $1,175 REBITDA Margin 39.6 % 42.7 % 44.2 % 44.8 % 45.7 % YOY REBITDA Flow-Through 54.8 % 169.3 % 27.9 % 47.5 % 48.1 %

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 28 Calculation of Net Leverage Ratio Net Leverage Ratio –The Company has defined its net leverage ratio as net debt, as calculated below, divided by adjusted EBITDA for the trailing twelve-month period. This measure should be considered supplemental to and not a substitute for financial information prepared in accordance with GAAP. The Company’s definition of this measure may differ from similarly titled measures used by other companies. $ in millions Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Long-Term Debt, Net $2,142 $2,503 $2,762 $2,922 $3,215 (Plus) Current maturities of long-term debt 11 11 11 12 12 (Plus) Unamortized debt issuance costs 6 6 5 5 5 (Less) Cash and Cash Equivalents (23) (52) (57) (54) (40) Net Debt $2,136 $2,468 $2,721 $2,885 3,192 Trailing Twelve-Month Adjusted EBITDA $947 $1,024 $1,123 $1,227 1,298 Net Leverage 2.3x 2.4x 2.4x 2.4x 2.5x

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 29 Reconciliation of Free Cash Flow Free cash flow is not a recognized term under GAAP and should not be considered in isolation or as a substitute for our reported results prepared in accordance with GAAP. Further, since all companies do not use identical calculations, our definition and presentation of this measure may not be comparable to similarly titled measures reported by other companies. Free cash flow represents net cash provided by (used in) operating activities less rental equipment expenditures and non-rental capital expenditures, plus proceeds from disposal of rental equipment, proceeds from disposal of property and equipment, and other investing activities. Free cash flow is used by management in analyzing the Company’s ability to service and repay its debt, fund potential acquisitions and to forecast future periods. However, this measure does not represent funds available for investment or other discretionary uses since it does not deduct cash used to service debt or for other non-discretionary expenditures. $ in millions Three Months Ended March 31, Year Ended December 31, 2023 2022 2021 2020 2019 Net cash provided by operating activities $235 $143 $744 $611 $636 Rental equipment expenditures (332) (287) (594) (344) (638) Proceeds from disposal of rental equipment 49 29 107 193 224 Net Fleet Capital Expenditures (283) (258) (487) (151) (414) Non-rental capital expenditures (33) (13) (48) (41) (57) Proceeds from disposal of property and equipment 3 2 5 7 8 Other — (5) — — 4 Free Cash Flow (78) (131) 214 426 177 Acquisitions, net of cash acquired (138) (73) (431) (46) (4) Proceeds from disposal of business — — — 25 — (Increase) decrease in Net Debt, excluding financing activities ($216) ($204) ($217) $405 $173

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 30 Historical Fleet at OEC1 (1) Original equipment cost based on ARA guidelines (2) Other includes acquisitions and divestitures of businesses $ in millions FY 2018 FY 2019 FY 2020 FY 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Q1 2023 Beginning Balance $3,651 $3,777 $3,822 $3,589 $4,381 $4,593 $5,097 $5,421 $4,381 $5,637 Expenditures $774 $627 $349 $725 $253 $327 $311 $327 $1,218 $348 Disposals ($607) ($593) ($551) ($286) ($64) ($64) ($54) ($140) ($322) ($144) Foreign Currency / Other(2) ($41) $11 ($31) $353 $23 $241 $67 $29 $360 $74 Ending Balance $3,777 $3,822 $3,589 $4,381 $4,593 $5,097 $5,421 $5,637 $5,637 $5,915 Proceeds as a percent of OEC 37.8 % 40.9 % 37.0 % 41.8 % 45.0 % 46.6 % 42.5 % 44.2 % 44.4 % 51.5 %

NYSE: HRI ©2023 Herc Rentals Inc. All Rights Reserved. 31 For additional information, please contact: Leslie Hunziker SVP Investor Relations leslie.hunziker@hercrentals.com 239 301-1675

XML

Document and Entity Information	Apr. 20, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Apr. 20, 2023
Entity Registrant Name	HERC HOLDINGS INC.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-33139
Entity Tax Identification Number	20-3530539
Entity Address, Address Line One	27500 Riverview Center Blvd
Entity Address, City or Town	Bonita Springs
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34134
City Area Code	239
Local Phone Number	301-1000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	HRI
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0001364479
Amendment Flag	false