H&E Adds its 79th branch in Loveland, Colo.
Last week, Baton Rouge, La.-based H&E Equipment Services Inc. opened a new branch in Loveland, Colo. H&E has 79 branches in the United States, and with the Loveland location, it serves three major Colorado markets in Colorado Springs, Denver, and now Fort Collins. In addition to northern Colorado, the Loveland facility will provide full-service coverage to customers in southeastern Wyoming and western Nebraska.
The 15,295-square-foot facility sits on two acres with a fully-fenced and paved yard area, offices, parts warehouse, and a repair shop with eight pull-through bays. The branch is capable of repairing a variety of general industrial and construction equipment.
First-quarter 2017 financial results for the equipment rental and sales company included increase in rental revenues of 4.4% from Q1 2016, with margins holding solid at 44.8% and rates down only about 0.5% year-over-year. Revenues for the company decreased 8.2% from $247 million in Q1 2016 to $226.8 million in Q1 2017.
John Engquist, CEO of H&E Equipment Services, said: “The ongoing challenges in the new equipment component of our distribution business persisted, due primarily to weak crane demand. We also expect our used equipment sales to trend down during the balance of this year as we intentionally sell less of our rental fleet as a result of higher anticipated rental demand in our non-residential construction markets.” He noted that there is an increased demand for rental equipment in non-residential projects like shale drilling activity in Texas and large industrial projects along the Gulf Coast.
