Covering Louisiana

Feb 28, 2014 12:26 PM by AP

H&E boost 4th quarter earnings

BATON ROUGE, La. (AP) - A recovering economy and higher construction activity nationally helped Baton Rouge-based H&E Equipment Services boost its fourth-quarter profit to $14.6 million, or 41 cents per share, compared to $10.7 million, or 31 cents per share.

The company, which sells, rents and services heavy construction and industrial equipment, saw fourth-quarter revenue grow 3.8 percent to $259.6 million.

H&E's rental revenue increased 12 percent to $90.4 million, thanks to a larger fleet and higher rates. Used equipment sales jumped 28.9 percent to $38.0 million.

Chief Executive Officer John Enggquist tells The Advocate the company's fourth quarter demonstrated continued across-the-board strength and momentum.

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