H&E Equipment Services (HEES) 10-Q 29 Oct 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 22, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Trading Symbol	HEES
Entity Registrant Name	H&E Equipment Services, Inc.
Entity Central Index Key	0001339605
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		36,610,928
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity File Number	000-51759
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-0553291
Entity Address, Address Line One	7500 Pecue Lane
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70809
City Area Code	225
Local Phone Number	298-5200
Document Transition Report	false
Document Quarterly Report	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash		$ 11,083	$ 8,500
Receivables, net of allowance for doubtful accounts of $8,424 and $7,126, respectively		252,224	247,430
Inventories, net of reserves for obsolescence of $164 and $207, respectively		22,034	109,931
Prepaid expenses and other assets		14,473	8,740
Rental equipment, net of accumulated depreciation of $1,062,984 and $990,971, respectively		1,924,653	1,756,578
Property and equipment, net of accumulated depreciation and amortization of $209,154 and $193,723, respectively		244,706	183,773
Operating lease right-of-use assets, net of accumulated amortization of $88,471 and $71,021, respectively		214,673	176,703
Finance lease right-of-use assets, net of accumulated amortization of $663 and $345, respectively		3,881	2,891
Deferred financing costs, net of accumulated amortization of $18,453 and $17,606, respectively		3,762	4,609
Intangible assets, net of accumulated amortization of $33,492 and $25,824, respectively		66,008	32,576
Goodwill	[1]	135,169	108,155
Total assets		2,892,666	2,639,886
Liabilities:
Senior secured credit facility		276,322	181,642
Accounts payable		91,290	85,486
Manufacturer flooring plans payable		1,715	2,708
Accrued expenses payable and other liabilities		98,250	87,929
Dividends payable		340	360
Senior unsecured notes, net of unaccreted discount of $4,928 and $5,807 and deferred financing costs of $1,138 and $1,341, respectively		1,243,934	1,242,852
Operating lease liabilities		235,616	183,775
Finance lease liabilities		4,101	3,019
Deferred income taxes		343,886	317,826
Total liabilities		2,295,454	2,105,597
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; and 41,093,266 and 40,823,375 shares issued at September 30, 2024 and December 31, 2023, respectively, and 36,611,772 and 36,449,188 shares outstanding at September 30, 2024 and December 31, 2023, respectively		411	408
Additional paid-in capital		270,533	261,927
Treasury stock at cost, 4,481,494 and 4,374,187 shares of common stock held at September 30, 2024 and December 31, 2023, respectively		(81,798)	(76,017)
Retained earnings		408,066	347,971
Total stockholders’ equity		597,212	534,289
Total liabilities and stockholders’ equity		$ 2,892,666	$ 2,639,886
[1] The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $ 92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and September 30, 2024 in the table above is reflected net of $ 98.4 million of accumulated impairment charges.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 8,424	$ 7,126
Reserves for obsolescence inventories	164	207
Accumulated depreciation, rental equipment	1,062,984	990,971
Accumulated depreciation and amortization, property and equipment	209,154	193,723
Accumulated amortization, operating lease right-of-use assets	88,471	71,021
Accumulated amortization, financing lease right-of-use assets	663	345
Accumulated amortization, deferred financing costs	18,453	17,606
Accumulated amortization, intangible assets	33,492	25,824
Unaccreted discount, net	4,928	5,807
Deferred financing costs	$ 1,138	$ 1,341
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	175,000,000	175,000,000
Common stock, shares issued	41,093,266	40,823,375
Common stock, shares outstanding	36,611,772	36,449,188
Treasury stock, shares	4,481,494	4,374,187

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Revenues	$ 384,862	$ 400,696	$ 1,132,501	$ 1,083,410
Cost of revenues:
Cost of revenues	213,408	212,313	624,902	585,288
Gross profit	171,454	188,383	507,599	498,122
Selling, general and administrative expenses	112,449	104,218	338,558	298,812
Impairment of goodwill	0	(5,714)	0	(5,714)
Gain on sales of property and equipment, net	1,664	763	6,449	1,866
Income (loss) from operations	60,669	79,214	175,490	195,462
Other income (expense):
Interest expense	(18,771)	(16,145)	(55,364)	(44,542)
Other, net	1,448	3,071	4,482	5,851
Total other expense, net	(17,323)	(13,074)	(50,882)	(38,691)
Income (loss) from operations before provision (benefit) for income taxes	43,346	66,140	124,608	156,771
Provision (benefit) for income taxes	12,278	17,261	34,390	41,002
Net income	$ 31,068	$ 48,879	$ 90,218	$ 115,769
Net income per common share:
Basic	$ 0.86	$ 1.35	$ 2.49	$ 3.21
Diluted	$ 0.85	$ 1.35	$ 2.47	$ 3.19
Weighted average common shares outstanding:
Basic	36,300	36,134	36,249	36,078
Diluted	36,459	36,322	36,497	36,326
Equipment Rentals [Member]
Revenues:
Revenues	$ 326,219	$ 315,811	$ 933,900	$ 869,278
Cost of revenues:
Cost of revenues	178,375	165,962	515,912	468,696
Equipment Rentals [Member] | Rental Depreciation [Member]
Cost of revenues:
Cost of revenues	95,194	90,361	278,990	258,146
Equipment Rentals [Member] | Rental Expense [Member]
Cost of revenues:
Cost of revenues	45,494	40,545	131,423	117,169
Equipment Rentals [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	37,687	35,056	105,499	93,381
Sales of Rental Equipment [Member]
Revenues:
Revenues	27,790	52,708	110,842	124,476
Cost of revenues:
Cost of revenues	11,057	21,893	42,006	51,396
Sales of New Equipment [Member]
Revenues:
Revenues	14,054	12,633	35,136	29,308
Cost of revenues:
Cost of revenues	11,266	10,962	28,777	25,278
Parts, Service and Other [Member]
Revenues:
Revenues	16,799	19,544	52,623	60,348
Cost of revenues:
Cost of revenues	$ 12,710	$ 13,496	$ 38,207	$ 39,918

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income			$ 90,218	$ 115,769
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment			34,748	25,329
Depreciation of rental equipment			278,990	258,146
Amortization of finance lease right-of-use assets			318	154
Amortization of intangible assets			7,668	5,048
Amortization of deferred financing costs			1,050	1,009
Accretion of note discount, net of premium amortization			879	879
Non-cash operating lease expense			17,450	14,212
Provision for losses on accounts receivable			4,036	3,382
Provision for inventory obsolescence			36	6
Change in deferred income taxes			26,060	35,386
Stock-based compensation expense			8,606	7,304
Impairment of goodwill	$ 0	$ 5,714	0	5,714
Gain from sales of property and equipment, net			(6,449)	(1,866)
Gain from sales of rental equipment, net			(68,809)	(72,856)
Changes in operating assets and liabilities:
Receivables			(3,754)	(32,201)
Inventories			2,867	(101,771)
Prepaid expenses and other assets			(5,719)	8,107
Accounts payable			(27,330)	(8,351)
Manufacturer flooring plans payable			(993)	2,235
Accrued expenses payable and other liabilities			6,284	10,867
Net cash provided by operating activities			366,156	276,502
Cash flows from investing activities:
Acquisition of business			(157,779)	0
Purchases of property and equipment			(93,873)	(55,412)
Purchases of rental equipment			(288,429)	(522,596)
Proceeds from sales of property and equipment			7,492	2,492
Proceeds from sales of rental equipment			110,482	123,480
Net cash used in investing activities			(422,107)	(452,036)
Cash flows from financing activities:
Borrowings on senior secured credit facility			1,429,860	1,332,449
Payments on senior secured credit facility			(1,335,180)	(1,190,215)
Dividends paid			(30,141)	(30,017)
Purchases of treasury stock			(5,781)	(6,053)
Payments of deferred financing costs			0	(4,939)
Payments of finance lease obligations			(224)	(102)
Net cash provided by financing activities			58,534	101,123
Net increase (decrease) in cash			2,583	(74,411)
Cash, beginning of period			8,500	81,330	$ 81,330
Cash, end of period	$ 11,083	$ 6,919	11,083	6,919	$ 8,500
Non-cash asset purchases:
Rental fleet in accounts payable and accrued expenses payable and other liabilities			33,054	0
Assets transferred from inventory to rental fleet			84,994	72,590
Purchases of property and equipment included in accrued expenses payable and other liabilities			447	563
Operating lease assets obtained in exchange for new operating lease liabilities			55,420	26,946
Cash paid during the period for:
Interest			41,353	29,131
Income taxes paid (net of refunds received)			$ 10,804	$ 4,812

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 31,068	$ 33,261	$ 25,889	$ 48,879	$ 41,216	$ 25,674	$ 90,218	$ 115,769

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	(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, H&E Equipment Services (Midwest), Inc. and H&E Equipment Services (Mid-Atlantic), Inc., collectively referred to herein as “we”, “us”, “our” or the “Company” and doing business as “H&E Rentals”. 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 and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024, 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, 2023, from which the consolidated balance sheet amounts as of December 31, 2023 were derived. All significant intercompany accounts and transactions have been eliminated in these condensed consolidated financial statements. The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, the accompanying condensed consolidated balance sheets are presented on an unclassified basis. Nature of Operations Founded in 1961, H&E Equipment Services, Inc. is one of the largest rental equipment companies in the nation, serving customers at our 157 branch locations across 32 states. The Company’s fleet is comprised of aerial work platforms, earthmoving, material handling, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest and Mid-Atlantic regions.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	(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, 2023. During the three and nine months ended September 30, 2024, 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. Reclassifications Certain reclassifications have been made to prior period amounts in the condensed consolidated statements of income to conform to the current period presentation. These reclassifications did not have a material impact on previously reported amounts. Revenue Recognition We recognize revenue in accordance with two different Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) standards: 1) Topic 606 and 2) Topic 842. Under Topic 606, Revenue from Contracts with Customers, revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Revenue 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. Under Topic 842, Leases, we account for equipment rental contracts as operating leases. We recognize revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, we record unbilled rental revenues and deferred rental revenues at the end of reporting periods so rental revenues earned is appropriately stated for the periods presented. In the table below, revenues as presented in our condensed consolidated statements of income for the three and nine months ended September 30, 2024 and 2023 are summarized by type and by the applicable accounting standard. Three Months Ended September 30, 2024 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 279,138 $ 159 $ 279,297 $ 271,019 $ 132 $ 271,151 Re-rent revenue 8,797 — 8,797 9,106 — 9,106 Ancillary and other rental revenues: Delivery and pick-up — 20,829 20,829 — 19,090 19,090 Other 17,296 — 17,296 16,464 — 16,464 Total ancillary rental revenues 17,296 20,829 38,125 16,464 19,090 35,554 Total equipment rental revenues 305,231 20,988 326,219 296,589 19,222 315,811 Sales of rental equipment — 27,790 27,790 — 52,708 52,708 Sales of new equipment — 14,054 14,054 — 12,633 12,633 Parts, service and other — 16,799 16,799 — 19,544 19,544 Total revenues $ 305,231 $ 79,631 $ 384,862 $ 296,589 $ 104,107 $ 400,696 Nine Months Ended September 30, 2024 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 799,598 $ 486 $ 800,084 $ 745,317 $ 382 $ 745,699 Re-rent revenue 25,224 — 25,224 25,357 — 25,357 Ancillary and other rental revenues: Delivery and pick-up — 59,678 59,678 — 52,255 52,255 Other 48,914 — 48,914 45,967 — 45,967 Total ancillary rental revenues 48,914 59,678 108,592 45,967 52,255 98,222 Total equipment rental revenues 873,736 60,164 933,900 816,641 52,637 869,278 Sales of rental equipment — 110,842 110,842 — 124,476 124,476 Sales of new equipment — 35,136 35,136 — 29,308 29,308 Parts, service and other — 52,623 52,623 — 60,348 60,348 Total revenues $ 873,736 $ 258,765 $ 1,132,501 $ 816,641 $ 266,769 $ 1,083,410 Revenues by reporting segment are presented in Note 11 of our condensed consolidated financial statements. We believe that the disaggregation of our revenues from contracts to customers as reflected above, coupled with further discussion below and the reporting segments in Note 11, depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. For further information related to our accounting for revenues pursuant to Topic 606 and Topic 842, see Significant Accounting Policies in Note 2 to our Annual Report on Form 10-K for the year ended December 31, 2023. Receivables and contract assets and liabilities We manage credit risk associated with our accounts receivables at the customer level. Because the same customers typically generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below on credit risk and our allowance for doubtful accounts address our total revenues from Topic 606 and Topic 842. We believe concentration of credit risk with respect to our receivables is limited because our customer base is comprised of a large number of geographically diverse customers. No single customer accounted for more than 10% of our total revenues for any of the periods presented in this Quarterly Report on Form 10-Q. We manage credit risk through credit approvals, credit limits and other monitoring procedures. Pursuant to Topic 842 and Topic 326 for rental and non-rental receivables, respectively, we maintain an allowance for doubtful accounts that reflects our estimate of our expected credit losses. Our allowance is estimated using a loss rate model based on delinquency. The estimated loss rate is based on our historical experience with specific customers, our understanding of our current economic circumstances, reasonable and supportable forecasts, and our own judgment as to the likelihood of ultimate payment based upon available data. Our largest exposure to doubtful accounts is our rental operations, which as discussed above is accounted for under Topic 842. For the nine months ended September 30, 2024, revenue under ASC 842 represents 77 % of our total revenues and an approximate corresponding percentage of our receivables, net and associated allowance for doubtful accounts. We perform credit evaluations of customers and establish credit limits based on reviews of our customers’ current credit information and payment histories. We believe our credit risk is somewhat mitigated by our geographically diverse customer base and our credit evaluation procedures. The actual rate of future credit losses, however, may not be similar to past experience. Our estimate of doubtful accounts could change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowance for doubtful accounts. Bad debt expense as a percentage of total revenues for the nine months ended September 30, 2024 and 2023 was approximately 0.4 % and 0.3 %, respectively. We do not have material contract assets, impairment losses associated therewith, or material contract liabilities associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. We did not recognize material revenues during the three and nine months ended September 30, 2024 and 2023 that were included in the contract liability balance as of the beginning of such periods. Goodwill Goodwill is recorded as the excess of the consideration transferred plus the fair value of any non-controlling interest in the acquiree at the acquisition date over the fair values of the identifiable net assets acquired. The change to the carrying amount of goodwill for the year ended December 31, 2023 and the nine months ended September 30, 2024 is as follows (amounts in thousands): Equipment Rentals Sales of Rental Eq. Parts Sales Total Balance at December 31, 2022 (1) $ 88,529 $ 8,447 $ 5,714 $ 102,690 Increase (2) 29 — — 29 Decrease (3) — — ( 5,714 ) ( 5,714 ) Decrease (4) ( 132 ) — — ( 132 ) Increase (5) 11,282 — — 11,282 Balance at December 31, 2023 (1) 99,708 8,447 — 108,155 Increase (6) 17,536 — — 17,536 Decrease (7) ( 100 ) — — ( 100 ) Increase (8) 8,401 — — 8,401 Increase (9) 651 — — 651 Increase (10) 526 — — 526 Balance at September 30, 2024 (1) $ 126,722 $ 8,447 $ — $ 135,169 (1) The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $ 92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and September 30, 2024 in the table above is reflected net of $ 98.4 million of accumulated impairment charges. (2) Increase is related to the closing adjustments of the OSR Acquisition during the first quarter of 2023. (3) Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023. (4) Decrease is related to the final closing adjustment of the OSR Acquisition during the third quarter of 2023. (5) Increase due to the Giffin Equipment (“Giffin”) Acquisition during the fourth quarter of 2023. (6) Increase due to the Precision Rentals (“Precision”) Acquisition during the first quarter of 2024. (7) Decrease is related to the purchase accounting adjustment of the Giffin Acquisition during the first quarter of 2024. (8) Increase due to Lewistown Rentals (“Lewistown”) Acquisition during the second quarter of 2024. (9) Increase is related to the final closing adjustment of the Precision Acquisition during the second quarter of 2024. (10) Increase is related to the final closing adjustment of the Lewistown Acquisition during the third quarter of 2024. Rental Equipment The rental equipment we purchase is recorded in rental equipment on the condensed consolidated balance sheets and is stated at cost. Due to the Company’s shift to operate as a pure-play rental company, as of the quarter ended June 30, 2024 purchases of equipment are now disaggregated between inventory and rental equipment according to classification at the time of purchase as opposed to considering all generally available for sale. Purchases of equipment designated for fleet are now recorded as rental equipment while equipment designated for sale is recorded as inventory. Rental equipment is depreciated over the estimated useful life of the equipment upon placed in service using the straight-line method and is included in rental depreciation within our condensed consolidated statements of income. Estimated useful lives vary based upon type of equipment. Generally, we depreciate aerial work platforms over a ten year estimated useful life, earthmoving equipment over a five year estimated useful life with a 25 % salvage value, and material handling equipment over a seven year estimated useful life. Attachments and other smaller type equipment are depreciated generally over a three year estimated useful life. We periodically evaluate the appropriateness of remaining depreciable lives and any salvage value assigned to rental equipment. Depreciation expense on rental equipment is reflected in rental depreciation in cost of revenues on the condensed consolidated statements of income. Ordinary repair and maintenance costs and property taxes are reflected in rental expenses in cost of revenues on the condensed consolidated statements of income. However, expenditures for additions or improvements that significantly extend the useful life of the asset are capitalized in the period incurred. When rental equipment is sold or disposed of, the related cost and accumulated depreciation are removed from the respective accounts and any gains or losses are included in gross profit in the condensed consolidated statements of income. We receive individual offers for fleet on a continual basis, at which time we perform an analysis on whether or not to accept the offer. The rental equipment is not transferred to inventory under the held for sale model as the equipment is used to generate revenues until the equipment is sold. Recent Accounting Pronouncements Pronouncements Not Yet Adopted Segment Reporting In November 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves the disclosures about a public entity’s reportable segments and addresses requests for additional, more detailed information about a reportable segment’s expenses. The amendments in this ASU require disclosure of incremental segment information on an annual and interim basis for all public entities. The amendments are effective for our Annual Report on Form 10-K for fiscal years beginning after December 15, 2023, and for the interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. ASU 2023-07 became effective on January 1, 2024 and is no t expected to have an impact on our financial statements, but will result in expanded reportable segment disclosures. Income Taxes In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which should improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The ASU requires that public entities on an annual basis disclose specific categories in the rate reconciliation, provide additional information for reconciling items that meet a quantitative threshold and the following information about income taxes paid: the amount of income taxes paid disaggregated by federal (national), state, and foreign taxes and the amount of income taxes paid disaggregated by individual jurisdictions. Lastly, the amendments in this ASU require that entities disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. ASU 2023-09 becomes effective January 1, 2025 and is not expected to have an impact on our financial statements, but will result in expanded tax disclosures.

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2024
Acquisitions and Dispositions [Abstract]
Acquisitions and Dispositions	(3) Acquisitions and Dispositions 2024 Acquisitions Lewistown Rentals Effective May 1, 2024 , we completed the acquisition of Lewistown Rentals (“Lewistown”), a Lewistown, Montana-based equipment rental business and three of its affiliated rental operations in Havre, Glasgow and Great Falls, Montana. The acquisition expands our presence in the Montana market. The aggregate cash consideration paid was approximately $ 33.8 million. The acquisition and related fees and expenses were funded from available cash and borrowings. The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. Customary closing adjustments were finalized during the third quarter of 2024. $’s in thousands Accounts receivable $ 953 Prepaid expenses and other assets 1 Rental equipment 19,047 Property and equipment 1,177 Customer relationships intangible asset (1) 3,800 Total identifiable assets acquired 24,978 Accounts payable ( 79 ) Accrued expenses payable and other liabilities ( 28 ) Total liabilities assumed ( 107 ) Net identifiable assets acquired 24,871 Goodwill (2) 8,927 Net assets acquired $ 33,798 (1) The following table reflects the fair values and useful lives of the acquired intangible assets: Fair Value Life (years) Customer relationships $ 3,800 10 (2) The acquired goodwill has been allocated to the equipment rentals reporting unit. The level of goodwill that resulted from the Lewistown acquisition is primarily reflective of Lewistown’s going-concern value, the value of assembled workforce, new customer relationships expected to arise from the acquisition and expected synergies from combining operations. We currently expect the goodwill recognized to be 100 % deductible for income tax purposes. Acquisition costs for the nine months ended September 30, 2024 were $ 0.4 million included within selling, general and administrative (“SG&A”) expenses on the condensed consolidated statement of income. Since our acquisition of Lewistown on May 1, 2024, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired locations, and it is impractical to reasonably estimate the amount of Lewistown revenues and earnings since the acquisition date. The assets and liabilities were recorded as of May 1, 2024 and the results of operations are included in the Company's consolidated results as of that date. Precision Rentals Effective January 1, 2024 , we completed the acquisition of Precision Rentals (“Precision”), an equipment rental company with a branch located in each of Arizona and Colorado. The acquisition expands our presence in both geographic markets. The aggregate cumulative cash consideration paid was approximately $ 124.0 million, which includes $ 3.5 million of fair value allocated to a noncompete agreement which is accounted for as a separate transaction from the net assets acquired in the business combination. The acquisition and related fees and expenses were funded from available cash and borrowings. Customary closing adjustments were finalized during the second quarter of 2024. The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. $’s in thousands Accounts receivable $ 4,120 Prepaid expenses and other assets 26 Rental equipment 63,215 Property and equipment 2,122 Operating lease right-of-use assets 68 Customer relationships intangible asset (1) 33,700 Total identifiable assets acquired 103,251 Accounts payable ( 57 ) Accrued expenses payable and other liabilities ( 832 ) Operating lease liabilities ( 68 ) Total liabilities assumed ( 957 ) Net identifiable assets acquired 102,294 Goodwill (2) 18,187 Net assets acquired 120,481 Noncompetition agreement intangible asset (1)(3) 3,500 Total cumulative consideration $ 123,981 (1) The following table reflects the fair values and useful lives of the acquired intangible assets: Fair Value Life (years) Customer relationships $ 33,700 10 Noncompetition agreements 3,500 5 $ 37,200 (2) The acquired goodwill has been allocated to the equipment rentals reporting unit. (3) The fair value of the noncompetition agreements is considered to be a separate transaction under ASC 805 and as such, has been excluded from the purchase price. The level of goodwill that resulted from the Precision acquisition is primarily reflective of Precision’s going-concern value, the value of assembled workforce, new customer relationships expected to arise from the acquisition and expected synergies from combining operations. We currently expect the goodwill recognized to be 100 % deductible for income tax purposes. Acquisition costs for the nine months ended September 30, 2024 were $ 0.4 million included within SG&A expenses on the condensed consolidated statement of income. Since our acquisition of Precision on January 1, 2024, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired locations, and it is impractical to reasonably estimate the amount of Precision revenues and earnings since the acquisition date. The assets and liabilities were recorded as of January 1, 2024 and the results of operations are included in the Company's consolidated results as of that date. 2023 Acquisition Giffin Equipment Effective November 1, 2023 , we completed the acquisition of Mel Giffin, Inc. (d/b/a Giffin Equipment) (“Giffin”), an equipment rental company with three branches located in California. The acquisition expands our presence in the California market. The aggregate cash consideration paid was approximately $ 31.3 million. The acquisition and related fees and expenses were funded from available cash and borrowings. The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. Customary closing adjustments were finalized during the third quarter of 2024. $’s in thousands Accounts receivable $ 870 Prepaid expenses and other assets 10 Rental equipment 12,291 Property and equipment 431 Operating lease right-of-use assets 121 Intangible assets (1) 6,500 Total identifiable assets acquired 20,223 Accrued expenses payable and other liabilities ( 19 ) Operating lease liabilities ( 121 ) Total liabilities assumed ( 140 ) Net identifiable assets acquired 20,083 Goodwill (2) 11,182 Net assets acquired $ 31,265 (1) The following table reflects the fair values and useful lives of the acquired intangible assets: Fair Value Life (years) Customer relationships $ 3,900 10 Noncompetition agreements 2,600 5 $ 6,500 (2) The acquired goodwill has been allocated to the equipment rentals reporting unit. The level of goodwill that resulted from the Giffin acquisition is primarily reflective of Giffin’s going-concern value, the value of assembled workforce, new customer relationships expected to arise from the acquisition and expected synergies from combining operations. We currently expect the goodwill recognized to be 100 % deductible for income tax purposes. Acquisition costs for the nine months ended September 30, 2024 were $ 0.1 million included within SG&A expenses on the condensed consolidated statement of income. Since our acquisition of Giffin on November 1, 2023, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired locations, and it is impractical to reasonably estimate the amount of Giffin revenues and earnings since the acquisition date. The assets and liabilities were recorded as of November 1, 2023 and the results of operations are included in the Company's consolidated results as of that date. Pro forma financial information (unaudited) We completed the Giffin acquisition effective November 1, 2023, the Precision acquisition effective January 1, 2024 and the Lewistown acquisition effective May 1, 2024; therefore, our reported condensed consolidated statements of income for the three and nine months ended September 30, 2023 does not include Giffin, Precision or Lewistown and the nine months ended September 30, 2024 does not include Lewistown for the entire period. The unaudited pro forma information in the table below (amounts in thousands) is for informational purposes only and gives effect to the Giffin, Precision and Lewistown acquisitions had all been completed on January 1, 2023 (the “pro forma acquisition date”). The unaudited pro forma information is not necessarily indicative of our results of operations had the acquisition been completed on the pro forma acquisition date, nor is it necessarily indicative of our future results. The unaudited pro forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisition, nor does it reflect additional revenue opportunities following the acquisition. The unaudited pro forma financial information includes adjustments primarily related to the incremental depreciation and amortization expense of the rental equipment and intangible assets acquired, the elimination of interest expense related to historical debt as well as other expenses that are not part of the combined entity and transaction expenses. Pro Forma (unaudited) Three Months Ended Nine Months Ended 2023 2024 2023 Total revenues $ 414,101 $ 1,135,408 $ 1,123,032 Net income $ 48,435 $ 89,971 $ 114,099

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	(4) Fair Value of Financial Instruments Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The FASB fair value measurement guidance established a fair value hierarchy that prioritizes the inputs used to measure fair value. The three broad levels of the fair value hierarchy are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 – Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly Level 3 – Unobservable inputs for which little or no market data exists, therefore requiring a company to develop its own assumptions The carrying value of financial instruments reported in the accompanying condensed consolidated balance sheets for cash, accounts receivable, Senior Secured Credit Facility (the “Credit Facility”), accounts payable and accrued expenses payable and other liabilities approximate fair value due to the immediate or short-term nature, maturity or market interest rate of these financial instruments. The Company’s outstanding obligations on its Credit Facility are deemed to be at fair value as the interest rates are variable and consistent with prevailing rates, which are considered Level 2 inputs. The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of September 30, 2024 and December 31, 2023 are presented in the table below (amounts in thousands). September 30, 2024 Carrying Fair Manufacturer flooring plans payable with interest computed at 8.50 % (Level 3) $ 1,715 $ 1,457 Senior Unsecured Notes due 2028 with interest computed at 3.875 % (Level 2) 1,243,934 1,174,263 December 31, 2023 Carrying Fair Manufacturer flooring plans payable with interest computed at 8.75 % (Level 3) $ 2,708 $ 2,490 Senior Unsecured Notes due 2028 with interest computed at 3.875 % (Level 2) 1,242,852 1,137,170 At September 30, 2024 and December 31, 2023 , the fair value of our senior unsecured notes due 2028 (the “Senior Unsecured Notes”) was based on quoted bond trading market prices for those notes. For our Level 3 unobservable inputs, we calculate a discount rate for our manufacturing floor plans payable based on the U.S. prime rate plus the applicable margin on our Credit Facility. The discount rate is disclosed in the above table. The assets collateralized against the manufacturer flooring plans payable approximate its carrying value. During the three and nine months ended September 30 , 2024 and 2023 , there were no transfers of financial assets or liabilities in or out of Level 3 of the fair value hierarchy.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity	(5) Stockholders’ Equity The following table summarizes the activity in Stockholders’ Equity for the three and nine months ended September 30, 2024 and 2023, respectively (amounts in thousands, except share and per share data): Common Stock Additional Total Shares Amount Paid-in Treasury Retained Earnings Stockholders’ Balances at December 31, 2023 40,823,375 $ 408 $ 261,927 $ ( 76,017 ) $ 347,971 $ 534,289 Stock-based compensation — — 3,788 — — 3,788 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,900 ) ( 9,900 ) Issuance of common stock, net of forfeitures 137,436 2 — — — 2 Repurchase of 57,662 shares of restricted common stock — — — ( 3,390 ) — ( 3,390 ) Net income — — — — 25,889 25,889 Balances at March 31, 2024 40,960,811 410 265,715 ( 79,407 ) 363,960 550,678 Stock-based compensation — — 2,202 — — 2,202 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,092 ) ( 10,092 ) Restricted stock forfeitures ( 5,642 ) — — — — — Net income — — — — 33,261 33,261 Balances at June 30, 2024 40,955,169 410 267,917 ( 79,407 ) 387,129 576,049 Stock-based compensation — — 2,616 — — 2,616 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,131 ) ( 10,131 ) Issuance of common stock, net of forfeitures 138,097 1 — — — 1 Repurchase of 49,645 shares of restricted common stock — — — ( 2,391 ) — ( 2,391 ) Net income — — — — 31,068 31,068 Balances at September 30, 2024 41,093,266 $ 411 $ 270,533 $ ( 81,798 ) $ 408,066 $ 597,212 Balances at December 31, 2022 40,567,876 $ 405 $ 251,901 $ ( 69,964 ) $ 218,700 $ 401,042 Stock-based compensation — — 2,990 — — 2,990 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,794 ) ( 9,794 ) Issuance of common stock, net of forfeitures 132,501 1 — — — 1 Repurchase of 58,211 shares of restricted common stock — — — ( 3,226 ) — ( 3,226 ) Net income — — — — 25,674 25,674 Balances at March 31, 2023 40,700,377 406 254,891 ( 73,190 ) 234,580 416,687 Stock-based compensation — — 2,039 — — 2,039 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,046 ) ( 10,046 ) Restricted stock forfeitures ( 5,323 ) — — — — — Net income — — — — 41,216 41,216 Balances at June 30, 2023 40,695,054 406 256,930 ( 73,190 ) 265,750 449,896 Stock-based compensation — — 2,275 — — 2,275 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,091 ) ( 10,091 ) Issuance of common stock, net of forfeitures 129,532 2 — — — 2 Repurchase of 57,421 shares of restricted common stock — — — ( 2,827 ) — ( 2,827 ) Net income — — — — 48,879 48,879 Balances at September 30, 2023 40,824,586 $ 408 $ 259,205 $ ( 76,017 ) $ 304,538 $ 488,134

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	(6) Stock-Based Compensation Stock-based compensation is measured at the grant date, based on the calculated fair value of the award, net of an estimated forfeiture rate, and is recognized as an expense over the requisite employee service period (generally the vesting period of the grant). The estimated forfeiture rate is based on historical experience and revised, if necessary, in subsequent periods for actual forfeitures. Our Amended and Restated 2016 Stock-Based Incentive Compensation Plan (the “2016 Plan”) is administered by the Compensation Committee of our Board of Directors, which selects persons eligible to receive awards and determines the number of shares and/or options subject to each award, the terms, conditions, performance measures, if any, and other provisions of the award. Under the 2016 Plan, we may offer deferred shares or restricted shares of our common stock and grant options, including both incentive stock options and nonqualified stock options, to purchase shares of our common stock. Shares available for future stock-based payment awards under our 2016 Plan were 2,221,986 shares of common stock as of September 30, 2024. Non-vested Stock The following table summarizes our non-vested stock activity for the nine months ended September 30, 2024: Number of Weighted Value Non-vested stock at December 31, 2023 497,396 $ 40.73 Granted 288,792 $ 48.77 Vested ( 269,318 ) $ 37.86 Forfeited ( 13,061 ) $ 44.64 Non-vested stock at September 30, 2024 503,809 $ 46.76 As of September 30, 2024, we had unrecognized compensation expense of approximate ly $ 16.5 million related to non-vested stock that we expect to be recognized over a weighted-average period of approximately 2.0 years. The following table summarizes compensation expense related to non-vested stock, which is included in SG&A expenses in the accompanying condensed consolidated statements of income for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Compensation expense $ 2,616 $ 2,275 $ 8,606 $ 7,304

Income per Share

Income per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Income per Share	(7) Income per Share Income per common share for the three and nine months ended September 30, 2024 and 2023 is based on the weighted average number of common shares outstanding during the period. The effects of potentially dilutive securities that are anti-dilutive are not included in the computation of dilutive income per share. We include all common shares granted under our incentive compensation plan which remain unvested (“restricted common shares”) and contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid (“participating securities”), in the number of shares outstanding in our basic and diluted EPS calculations using the two-class method. All of our restricted common shares are currently participating securities. Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings allocated to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, distributed and undistributed earnings are allocated to both common shares and restricted common shares based on the total weighted average shares outstanding during the period. The number of restricted common shares outstanding was less than 1 % of total outstanding shares for the three and nine months ended September 30, 2024 and 2023 and, consequently, was immaterial to the basic and diluted EPS calculations. Therefore, use of the two-class method had no impact on our basic and diluted EPS calculations for the periods presented. The following table sets forth the computation of basic and diluted net income per common share for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net income $ 31,068 $ 48,879 $ 90,218 $ 115,769 Weighted average number of common shares outstanding: Basic 36,300 36,134 36,249 36,078 Effect of dilutive non-vested restricted stock 159 188 248 248 Diluted 36,459 36,322 36,497 36,326 Income per share: Basic net income per share $ 0.86 $ 1.35 $ 2.49 $ 3.21 Diluted net income per share $ 0.85 $ 1.35 $ 2.47 $ 3.19 Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock 213 205 71 68 Dividends declared per common share outstanding $ 0.275 $ 0.275 $ 0.825 $ 0.825

Senior Secured Credit Facility

Senior Secured Credit Facility	9 Months Ended
	Sep. 30, 2024
Secured Debt [Member]
Senior Secured Credit Facility	(8) Senior Secured Credit Facility We and our subsidiaries are parties to a $ 750.0 million Credit Facility with Wells Fargo Bank, National Association, as administrative agent, and the lenders named therein. For further information related to significant terms of the Credit Facility, see Note 10 to the Company’s Consolidated Financial Statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. At September 30, 2024, we had $ 276.3 million outstanding under the Credit Facility and could borrow up to approximately $ 461.3 million , net of a $ 12.3 million outstanding letter of credit. As of September 30, 2024 , the weighted average interest rate under the Credit Facility was approximately 7.2 %. As of September 30, 2024, we were in compliance with our financial covenants under the Amended and Restated Credit Agreement. The aggregate amounts outstanding as of September 30, 2024 under both the Credit Facility and our Senior Unsecured Notes (Note 9) of $ 1,526.3 million mature during 2028.

Senior Unsecured Notes

Senior Unsecured Notes	9 Months Ended
	Sep. 30, 2024
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Credit Facility	(9) Senior Unsecured Note s On December 14, 2020, we completed the offering of our $ 1.25 billion, 3.875 % Senior Unsecured Notes due 2028 . For further information related to significant terms of the Senior Unsecured Notes, see Note 9 to the Company’s Consolidated Financial Statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. As of September 30, 2024, we were in compliance with the covenants governing our notes. The following table reconciles our Senior Unsecured Notes to our condensed consolidated balance sheets (amounts in thousands): Balance at December 31, 2022 $ 1,241,409 Accretion of discount through December 31, 2023 1,172 Amortization of deferred financing costs through December 31, 2023 271 Balance at December 31, 2023 $ 1,242,852 Accretion of discount through September 30, 2024 879 Amortization of deferred financing costs through September 30, 2024 203 Balance at September 30, 2024 $ 1,243,934

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	(10) Leases At September 30, 2024 , the weighted average remaining lease term for operating leases was approximately 7.7 years and for finance leases was approximately 8.0 years. The weighted average discount rate for operating leases and finance leases was approximately 6.4 % and 6.0 %, respectively, at September 30, 2024. The future minimum lease payments of operating leases executed but not commenced as of September 30, 2024 are estimated to be $ 0.1 million, $ 2.4 million, $ 3.9 million, $ 4.0 million and $ 4.1 million for the years ended December 31, 2024, 2025 , 2026, 2027 and 2028, respectively, and $ 28.8 million thereafter. It is expected that these leases will primarily commence during 2024 and 2025 .

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	(11) Segment Information We have identified four reportable segments: equipment rentals, sales of rental equipment, sales of new equipment, and parts, service and other revenues. These segments are based upon revenue streams and how management of the Company allocates resources and assesses performance. There were no sales between segments for any of the periods presented. Selling, general, and administrative expenses as well as all other income and expense items below gross profit are not generally allocated to our reportable segments. We revised our reportable segments by aggregating parts sales and service revenues into one segment during the quarter ended June 30, 2024 due to revised internal reporting provided to our Chief Operating Decision Maker. We previously reported five segments as noted in our Consolidated Financial Statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. The presentation of prior period information disclosed below has been revised to reflect this change. We do not compile discrete financial information by segments other than the information presented below. The following table presents information about our reportable segments (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Segment Revenues: Equipment rentals $ 326,219 $ 315,811 $ 933,900 $ 869,278 Sales of rental equipment 27,790 52,708 110,842 124,476 Sales of new equipment 14,054 12,633 35,136 29,308 Parts, service and other 16,799 19,544 52,623 60,348 Total revenues $ 384,862 $ 400,696 $ 1,132,501 $ 1,083,410 Segment Gross Profit: Equipment rentals $ 147,844 $ 149,849 $ 417,988 $ 400,582 Sales of rental equipment 16,733 30,815 68,836 73,080 Sales of new equipment 2,788 1,671 6,359 4,030 Parts, service and other 4,089 6,048 14,416 20,430 Total gross profit $ 171,454 $ 188,383 $ 507,599 $ 498,122 Balances at September 30, December 31, 2024 2023 Segment identified assets: Equipment rentals $ 1,924,653 $ 1,756,578 Equipment sales 9,192 98,045 Parts, service and other 12,842 11,886 Total segment identified assets 1,946,687 1,866,509 Unallocated identified assets 945,979 773,377 Total assets $ 2,892,666 $ 2,639,886 The Company operates primarily in the United States. Our sales to international customers for both the three months ended September 30, 2024 and 2023 and for both the nine months ended September 30, 2024 and 2023 were 0.1 % of total revenues. No one customer accounted for more than 10% of our total revenues for any of the periods presented.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	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, H&E Equipment Services (Midwest), Inc. and H&E Equipment Services (Mid-Atlantic), Inc., collectively referred to herein as “we”, “us”, “our” or the “Company” and doing business as “H&E Rentals”. 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 and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024, 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, 2023, from which the consolidated balance sheet amounts as of December 31, 2023 were derived. All significant intercompany accounts and transactions have been eliminated in these condensed consolidated financial statements. The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, the accompanying condensed consolidated balance sheets are presented on an unclassified basis.
Use of Estimates	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.
Reclassifications	Reclassifications Certain reclassifications have been made to prior period amounts in the condensed consolidated statements of income to conform to the current period presentation. These reclassifications did not have a material impact on previously reported amounts.
Revenue Recognition	Revenue Recognition We recognize revenue in accordance with two different Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) standards: 1) Topic 606 and 2) Topic 842. Under Topic 606, Revenue from Contracts with Customers, revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Revenue 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. Under Topic 842, Leases, we account for equipment rental contracts as operating leases. We recognize revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, we record unbilled rental revenues and deferred rental revenues at the end of reporting periods so rental revenues earned is appropriately stated for the periods presented. In the table below, revenues as presented in our condensed consolidated statements of income for the three and nine months ended September 30, 2024 and 2023 are summarized by type and by the applicable accounting standard. Three Months Ended September 30, 2024 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 279,138 $ 159 $ 279,297 $ 271,019 $ 132 $ 271,151 Re-rent revenue 8,797 — 8,797 9,106 — 9,106 Ancillary and other rental revenues: Delivery and pick-up — 20,829 20,829 — 19,090 19,090 Other 17,296 — 17,296 16,464 — 16,464 Total ancillary rental revenues 17,296 20,829 38,125 16,464 19,090 35,554 Total equipment rental revenues 305,231 20,988 326,219 296,589 19,222 315,811 Sales of rental equipment — 27,790 27,790 — 52,708 52,708 Sales of new equipment — 14,054 14,054 — 12,633 12,633 Parts, service and other — 16,799 16,799 — 19,544 19,544 Total revenues $ 305,231 $ 79,631 $ 384,862 $ 296,589 $ 104,107 $ 400,696 Nine Months Ended September 30, 2024 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 799,598 $ 486 $ 800,084 $ 745,317 $ 382 $ 745,699 Re-rent revenue 25,224 — 25,224 25,357 — 25,357 Ancillary and other rental revenues: Delivery and pick-up — 59,678 59,678 — 52,255 52,255 Other 48,914 — 48,914 45,967 — 45,967 Total ancillary rental revenues 48,914 59,678 108,592 45,967 52,255 98,222 Total equipment rental revenues 873,736 60,164 933,900 816,641 52,637 869,278 Sales of rental equipment — 110,842 110,842 — 124,476 124,476 Sales of new equipment — 35,136 35,136 — 29,308 29,308 Parts, service and other — 52,623 52,623 — 60,348 60,348 Total revenues $ 873,736 $ 258,765 $ 1,132,501 $ 816,641 $ 266,769 $ 1,083,410 Revenues by reporting segment are presented in Note 11 of our condensed consolidated financial statements. We believe that the disaggregation of our revenues from contracts to customers as reflected above, coupled with further discussion below and the reporting segments in Note 11, depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. For further information related to our accounting for revenues pursuant to Topic 606 and Topic 842, see Significant Accounting Policies in Note 2 to our Annual Report on Form 10-K for the year ended December 31, 2023. Receivables and contract assets and liabilities We manage credit risk associated with our accounts receivables at the customer level. Because the same customers typically generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below on credit risk and our allowance for doubtful accounts address our total revenues from Topic 606 and Topic 842. We believe concentration of credit risk with respect to our receivables is limited because our customer base is comprised of a large number of geographically diverse customers. No single customer accounted for more than 10% of our total revenues for any of the periods presented in this Quarterly Report on Form 10-Q. We manage credit risk through credit approvals, credit limits and other monitoring procedures. Pursuant to Topic 842 and Topic 326 for rental and non-rental receivables, respectively, we maintain an allowance for doubtful accounts that reflects our estimate of our expected credit losses. Our allowance is estimated using a loss rate model based on delinquency. The estimated loss rate is based on our historical experience with specific customers, our understanding of our current economic circumstances, reasonable and supportable forecasts, and our own judgment as to the likelihood of ultimate payment based upon available data. Our largest exposure to doubtful accounts is our rental operations, which as discussed above is accounted for under Topic 842. For the nine months ended September 30, 2024, revenue under ASC 842 represents 77 % of our total revenues and an approximate corresponding percentage of our receivables, net and associated allowance for doubtful accounts. We perform credit evaluations of customers and establish credit limits based on reviews of our customers’ current credit information and payment histories. We believe our credit risk is somewhat mitigated by our geographically diverse customer base and our credit evaluation procedures. The actual rate of future credit losses, however, may not be similar to past experience. Our estimate of doubtful accounts could change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowance for doubtful accounts. Bad debt expense as a percentage of total revenues for the nine months ended September 30, 2024 and 2023 was approximately 0.4 % and 0.3 %, respectively. We do not have material contract assets, impairment losses associated therewith, or material contract liabilities associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. We did not recognize material revenues during the three and nine months ended September 30, 2024 and 2023 that were included in the contract liability balance as of the beginning of such periods.
Goodwill	Goodwill Goodwill is recorded as the excess of the consideration transferred plus the fair value of any non-controlling interest in the acquiree at the acquisition date over the fair values of the identifiable net assets acquired. The change to the carrying amount of goodwill for the year ended December 31, 2023 and the nine months ended September 30, 2024 is as follows (amounts in thousands): Equipment Rentals Sales of Rental Eq. Parts Sales Total Balance at December 31, 2022 (1) $ 88,529 $ 8,447 $ 5,714 $ 102,690 Increase (2) 29 — — 29 Decrease (3) — — ( 5,714 ) ( 5,714 ) Decrease (4) ( 132 ) — — ( 132 ) Increase (5) 11,282 — — 11,282 Balance at December 31, 2023 (1) 99,708 8,447 — 108,155 Increase (6) 17,536 — — 17,536 Decrease (7) ( 100 ) — — ( 100 ) Increase (8) 8,401 — — 8,401 Increase (9) 651 — — 651 Increase (10) 526 — — 526 Balance at September 30, 2024 (1) $ 126,722 $ 8,447 $ — $ 135,169 (1) The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $ 92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and September 30, 2024 in the table above is reflected net of $ 98.4 million of accumulated impairment charges. (2) Increase is related to the closing adjustments of the OSR Acquisition during the first quarter of 2023. (3) Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023. (4) Decrease is related to the final closing adjustment of the OSR Acquisition during the third quarter of 2023. (5) Increase due to the Giffin Equipment (“Giffin”) Acquisition during the fourth quarter of 2023. (6) Increase due to the Precision Rentals (“Precision”) Acquisition during the first quarter of 2024. (7) Decrease is related to the purchase accounting adjustment of the Giffin Acquisition during the first quarter of 2024. (8) Increase due to Lewistown Rentals (“Lewistown”) Acquisition during the second quarter of 2024. (9) Increase is related to the final closing adjustment of the Precision Acquisition during the second quarter of 2024. (10) Increase is related to the final closing adjustment of the Lewistown Acquisition during the third quarter of 2024.
Rental Equipment	Rental Equipment The rental equipment we purchase is recorded in rental equipment on the condensed consolidated balance sheets and is stated at cost. Due to the Company’s shift to operate as a pure-play rental company, as of the quarter ended June 30, 2024 purchases of equipment are now disaggregated between inventory and rental equipment according to classification at the time of purchase as opposed to considering all generally available for sale. Purchases of equipment designated for fleet are now recorded as rental equipment while equipment designated for sale is recorded as inventory. Rental equipment is depreciated over the estimated useful life of the equipment upon placed in service using the straight-line method and is included in rental depreciation within our condensed consolidated statements of income. Estimated useful lives vary based upon type of equipment. Generally, we depreciate aerial work platforms over a ten year estimated useful life, earthmoving equipment over a five year estimated useful life with a 25 % salvage value, and material handling equipment over a seven year estimated useful life. Attachments and other smaller type equipment are depreciated generally over a three year estimated useful life. We periodically evaluate the appropriateness of remaining depreciable lives and any salvage value assigned to rental equipment. Depreciation expense on rental equipment is reflected in rental depreciation in cost of revenues on the condensed consolidated statements of income. Ordinary repair and maintenance costs and property taxes are reflected in rental expenses in cost of revenues on the condensed consolidated statements of income. However, expenditures for additions or improvements that significantly extend the useful life of the asset are capitalized in the period incurred. When rental equipment is sold or disposed of, the related cost and accumulated depreciation are removed from the respective accounts and any gains or losses are included in gross profit in the condensed consolidated statements of income. We receive individual offers for fleet on a continual basis, at which time we perform an analysis on whether or not to accept the offer. The rental equipment is not transferred to inventory under the held for sale model as the equipment is used to generate revenues until the equipment is sold.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Pronouncements Not Yet Adopted Segment Reporting In November 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves the disclosures about a public entity’s reportable segments and addresses requests for additional, more detailed information about a reportable segment’s expenses. The amendments in this ASU require disclosure of incremental segment information on an annual and interim basis for all public entities. The amendments are effective for our Annual Report on Form 10-K for fiscal years beginning after December 15, 2023, and for the interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. ASU 2023-07 became effective on January 1, 2024 and is no t expected to have an impact on our financial statements, but will result in expanded reportable segment disclosures. Income Taxes In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which should improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The ASU requires that public entities on an annual basis disclose specific categories in the rate reconciliation, provide additional information for reconciling items that meet a quantitative threshold and the following information about income taxes paid: the amount of income taxes paid disaggregated by federal (national), state, and foreign taxes and the amount of income taxes paid disaggregated by individual jurisdictions. Lastly, the amendments in this ASU require that entities disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. ASU 2023-09 becomes effective January 1, 2025 and is not expected to have an impact on our financial statements, but will result in expanded tax disclosures.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Revenues by Type and by Applicable Accounting Standard	In the table below, revenues as presented in our condensed consolidated statements of income for the three and nine months ended September 30, 2024 and 2023 are summarized by type and by the applicable accounting standard. Three Months Ended September 30, 2024 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 279,138 $ 159 $ 279,297 $ 271,019 $ 132 $ 271,151 Re-rent revenue 8,797 — 8,797 9,106 — 9,106 Ancillary and other rental revenues: Delivery and pick-up — 20,829 20,829 — 19,090 19,090 Other 17,296 — 17,296 16,464 — 16,464 Total ancillary rental revenues 17,296 20,829 38,125 16,464 19,090 35,554 Total equipment rental revenues 305,231 20,988 326,219 296,589 19,222 315,811 Sales of rental equipment — 27,790 27,790 — 52,708 52,708 Sales of new equipment — 14,054 14,054 — 12,633 12,633 Parts, service and other — 16,799 16,799 — 19,544 19,544 Total revenues $ 305,231 $ 79,631 $ 384,862 $ 296,589 $ 104,107 $ 400,696 Nine Months Ended September 30, 2024 2023 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 799,598 $ 486 $ 800,084 $ 745,317 $ 382 $ 745,699 Re-rent revenue 25,224 — 25,224 25,357 — 25,357 Ancillary and other rental revenues: Delivery and pick-up — 59,678 59,678 — 52,255 52,255 Other 48,914 — 48,914 45,967 — 45,967 Total ancillary rental revenues 48,914 59,678 108,592 45,967 52,255 98,222 Total equipment rental revenues 873,736 60,164 933,900 816,641 52,637 869,278 Sales of rental equipment — 110,842 110,842 — 124,476 124,476 Sales of new equipment — 35,136 35,136 — 29,308 29,308 Parts, service and other — 52,623 52,623 — 60,348 60,348 Total revenues $ 873,736 $ 258,765 $ 1,132,501 $ 816,641 $ 266,769 $ 1,083,410
Schedule of Carrying Amount of Goodwill	The change to the carrying amount of goodwill for the year ended December 31, 2023 and the nine months ended September 30, 2024 is as follows (amounts in thousands): Equipment Rentals Sales of Rental Eq. Parts Sales Total Balance at December 31, 2022 (1) $ 88,529 $ 8,447 $ 5,714 $ 102,690 Increase (2) 29 — — 29 Decrease (3) — — ( 5,714 ) ( 5,714 ) Decrease (4) ( 132 ) — — ( 132 ) Increase (5) 11,282 — — 11,282 Balance at December 31, 2023 (1) 99,708 8,447 — 108,155 Increase (6) 17,536 — — 17,536 Decrease (7) ( 100 ) — — ( 100 ) Increase (8) 8,401 — — 8,401 Increase (9) 651 — — 651 Increase (10) 526 — — 526 Balance at September 30, 2024 (1) $ 126,722 $ 8,447 $ — $ 135,169 (1) The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $ 92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and September 30, 2024 in the table above is reflected net of $ 98.4 million of accumulated impairment charges. (2) Increase is related to the closing adjustments of the OSR Acquisition during the first quarter of 2023. (3) Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023. (4) Decrease is related to the final closing adjustment of the OSR Acquisition during the third quarter of 2023. (5) Increase due to the Giffin Equipment (“Giffin”) Acquisition during the fourth quarter of 2023. (6) Increase due to the Precision Rentals (“Precision”) Acquisition during the first quarter of 2024. (7) Decrease is related to the purchase accounting adjustment of the Giffin Acquisition during the first quarter of 2024. (8) Increase due to Lewistown Rentals (“Lewistown”) Acquisition during the second quarter of 2024. (9) Increase is related to the final closing adjustment of the Precision Acquisition during the second quarter of 2024. (10) Increase is related to the final closing adjustment of the Lewistown Acquisition during the third quarter of 2024.

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2024
Lewistown Rentals [Member]
Business Acquisition [Line Items]
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. Customary closing adjustments were finalized during the third quarter of 2024. $’s in thousands Accounts receivable $ 953 Prepaid expenses and other assets 1 Rental equipment 19,047 Property and equipment 1,177 Customer relationships intangible asset (1) 3,800 Total identifiable assets acquired 24,978 Accounts payable ( 79 ) Accrued expenses payable and other liabilities ( 28 ) Total liabilities assumed ( 107 ) Net identifiable assets acquired 24,871 Goodwill (2) 8,927 Net assets acquired $ 33,798 (1) The following table reflects the fair values and useful lives of the acquired intangible assets: Fair Value Life (years) Customer relationships $ 3,800 10 (2) The acquired goodwill has been allocated to the equipment rentals reporting unit.
Precision Rentals [Member]
Business Acquisition [Line Items]
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. $’s in thousands Accounts receivable $ 4,120 Prepaid expenses and other assets 26 Rental equipment 63,215 Property and equipment 2,122 Operating lease right-of-use assets 68 Customer relationships intangible asset (1) 33,700 Total identifiable assets acquired 103,251 Accounts payable ( 57 ) Accrued expenses payable and other liabilities ( 832 ) Operating lease liabilities ( 68 ) Total liabilities assumed ( 957 ) Net identifiable assets acquired 102,294 Goodwill (2) 18,187 Net assets acquired 120,481 Noncompetition agreement intangible asset (1)(3) 3,500 Total cumulative consideration $ 123,981 (1) The following table reflects the fair values and useful lives of the acquired intangible assets: Fair Value Life (years) Customer relationships $ 33,700 10 Noncompetition agreements 3,500 5 $ 37,200 (2) The acquired goodwill has been allocated to the equipment rentals reporting unit. (3) The fair value of the noncompetition agreements is considered to be a separate transaction under ASC 805 and as such, has been excluded from the purchase price.
Giffin Equipment [Member]
Business Acquisition [Line Items]
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. Customary closing adjustments were finalized during the third quarter of 2024. $’s in thousands Accounts receivable $ 870 Prepaid expenses and other assets 10 Rental equipment 12,291 Property and equipment 431 Operating lease right-of-use assets 121 Intangible assets (1) 6,500 Total identifiable assets acquired 20,223 Accrued expenses payable and other liabilities ( 19 ) Operating lease liabilities ( 121 ) Total liabilities assumed ( 140 ) Net identifiable assets acquired 20,083 Goodwill (2) 11,182 Net assets acquired $ 31,265 (1) The following table reflects the fair values and useful lives of the acquired intangible assets: Fair Value Life (years) Customer relationships $ 3,900 10 Noncompetition agreements 2,600 5 $ 6,500 (2) The acquired goodwill has been allocated to the equipment rentals reporting unit.
Giffin Equipment, Precision Rentals And Lewistown Rentals [Member]
Business Acquisition [Line Items]
Unaudited Pro Forma Financial Information	The unaudited pro forma information in the table below (amounts in thousands) is for informational purposes only and gives effect to the Giffin, Precision and Lewistown acquisitions had all been completed on January 1, 2023 (the “pro forma acquisition date”). The unaudited pro forma information is not necessarily indicative of our results of operations had the acquisition been completed on the pro forma acquisition date, nor is it necessarily indicative of our future results. The unaudited pro forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisition, nor does it reflect additional revenue opportunities following the acquisition. The unaudited pro forma financial information includes adjustments primarily related to the incremental depreciation and amortization expense of the rental equipment and intangible assets acquired, the elimination of interest expense related to historical debt as well as other expenses that are not part of the combined entity and transaction expenses. Pro Forma (unaudited) Three Months Ended Nine Months Ended 2023 2024 2023 Total revenues $ 414,101 $ 1,135,408 $ 1,123,032 Net income $ 48,435 $ 89,971 $ 114,099

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements	The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of September 30, 2024 and December 31, 2023 are presented in the table below (amounts in thousands). September 30, 2024 Carrying Fair Manufacturer flooring plans payable with interest computed at 8.50 % (Level 3) $ 1,715 $ 1,457 Senior Unsecured Notes due 2028 with interest computed at 3.875 % (Level 2) 1,243,934 1,174,263 December 31, 2023 Carrying Fair Manufacturer flooring plans payable with interest computed at 8.75 % (Level 3) $ 2,708 $ 2,490 Senior Unsecured Notes due 2028 with interest computed at 3.875 % (Level 2) 1,242,852 1,137,170

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Summary of Activity in Stockholders' Equity	The following table summarizes the activity in Stockholders’ Equity for the three and nine months ended September 30, 2024 and 2023, respectively (amounts in thousands, except share and per share data): Common Stock Additional Total Shares Amount Paid-in Treasury Retained Earnings Stockholders’ Balances at December 31, 2023 40,823,375 $ 408 $ 261,927 $ ( 76,017 ) $ 347,971 $ 534,289 Stock-based compensation — — 3,788 — — 3,788 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,900 ) ( 9,900 ) Issuance of common stock, net of forfeitures 137,436 2 — — — 2 Repurchase of 57,662 shares of restricted common stock — — — ( 3,390 ) — ( 3,390 ) Net income — — — — 25,889 25,889 Balances at March 31, 2024 40,960,811 410 265,715 ( 79,407 ) 363,960 550,678 Stock-based compensation — — 2,202 — — 2,202 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,092 ) ( 10,092 ) Restricted stock forfeitures ( 5,642 ) — — — — — Net income — — — — 33,261 33,261 Balances at June 30, 2024 40,955,169 410 267,917 ( 79,407 ) 387,129 576,049 Stock-based compensation — — 2,616 — — 2,616 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,131 ) ( 10,131 ) Issuance of common stock, net of forfeitures 138,097 1 — — — 1 Repurchase of 49,645 shares of restricted common stock — — — ( 2,391 ) — ( 2,391 ) Net income — — — — 31,068 31,068 Balances at September 30, 2024 41,093,266 $ 411 $ 270,533 $ ( 81,798 ) $ 408,066 $ 597,212 Balances at December 31, 2022 40,567,876 $ 405 $ 251,901 $ ( 69,964 ) $ 218,700 $ 401,042 Stock-based compensation — — 2,990 — — 2,990 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,794 ) ( 9,794 ) Issuance of common stock, net of forfeitures 132,501 1 — — — 1 Repurchase of 58,211 shares of restricted common stock — — — ( 3,226 ) — ( 3,226 ) Net income — — — — 25,674 25,674 Balances at March 31, 2023 40,700,377 406 254,891 ( 73,190 ) 234,580 416,687 Stock-based compensation — — 2,039 — — 2,039 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,046 ) ( 10,046 ) Restricted stock forfeitures ( 5,323 ) — — — — — Net income — — — — 41,216 41,216 Balances at June 30, 2023 40,695,054 406 256,930 ( 73,190 ) 265,750 449,896 Stock-based compensation — — 2,275 — — 2,275 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,091 ) ( 10,091 ) Issuance of common stock, net of forfeitures 129,532 2 — — — 2 Repurchase of 57,421 shares of restricted common stock — — — ( 2,827 ) — ( 2,827 ) Net income — — — — 48,879 48,879 Balances at September 30, 2023 40,824,586 $ 408 $ 259,205 $ ( 76,017 ) $ 304,538 $ 488,134

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Non-Vested Stock Activity	The following table summarizes our non-vested stock activity for the nine months ended September 30, 2024: Number of Weighted Value Non-vested stock at December 31, 2023 497,396 $ 40.73 Granted 288,792 $ 48.77 Vested ( 269,318 ) $ 37.86 Forfeited ( 13,061 ) $ 44.64 Non-vested stock at September 30, 2024 503,809 $ 46.76
Schedule of Compensation Expense Related to Non-Vested Stock	The following table summarizes compensation expense related to non-vested stock, which is included in SG&A expenses in the accompanying condensed consolidated statements of income for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Compensation expense $ 2,616 $ 2,275 $ 8,606 $ 7,304

Income per Share (Tables)

Income per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income Per Common Share	The following table sets forth the computation of basic and diluted net income per common share for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net income $ 31,068 $ 48,879 $ 90,218 $ 115,769 Weighted average number of common shares outstanding: Basic 36,300 36,134 36,249 36,078 Effect of dilutive non-vested restricted stock 159 188 248 248 Diluted 36,459 36,322 36,497 36,326 Income per share: Basic net income per share $ 0.86 $ 1.35 $ 2.49 $ 3.21 Diluted net income per share $ 0.85 $ 1.35 $ 2.47 $ 3.19 Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock 213 205 71 68 Dividends declared per common share outstanding $ 0.275 $ 0.275 $ 0.825 $ 0.825

Senior Unsecured Notes (Tables)

Senior Unsecured Notes (Tables)	9 Months Ended
	Sep. 30, 2024
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Reconciliation of Senior Unsecured Notes to condensed consolidated balance sheets	The following table reconciles our Senior Unsecured Notes to our condensed consolidated balance sheets (amounts in thousands): Balance at December 31, 2022 $ 1,241,409 Accretion of discount through December 31, 2023 1,172 Amortization of deferred financing costs through December 31, 2023 271 Balance at December 31, 2023 $ 1,242,852 Accretion of discount through September 30, 2024 879 Amortization of deferred financing costs through September 30, 2024 203 Balance at September 30, 2024 $ 1,243,934

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Information about Reportable Segments	The following table presents information about our reportable segments (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Segment Revenues: Equipment rentals $ 326,219 $ 315,811 $ 933,900 $ 869,278 Sales of rental equipment 27,790 52,708 110,842 124,476 Sales of new equipment 14,054 12,633 35,136 29,308 Parts, service and other 16,799 19,544 52,623 60,348 Total revenues $ 384,862 $ 400,696 $ 1,132,501 $ 1,083,410 Segment Gross Profit: Equipment rentals $ 147,844 $ 149,849 $ 417,988 $ 400,582 Sales of rental equipment 16,733 30,815 68,836 73,080 Sales of new equipment 2,788 1,671 6,359 4,030 Parts, service and other 4,089 6,048 14,416 20,430 Total gross profit $ 171,454 $ 188,383 $ 507,599 $ 498,122 Balances at September 30, December 31, 2024 2023 Segment identified assets: Equipment rentals $ 1,924,653 $ 1,756,578 Equipment sales 9,192 98,045 Parts, service and other 12,842 11,886 Total segment identified assets 1,946,687 1,866,509 Unallocated identified assets 945,979 773,377 Total assets $ 2,892,666 $ 2,639,886

Organization and Nature of Op_2

Organization and Nature of Operations - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024 Branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states company serving rental equipment to the customers	32
Number of branch locations	157

Significant Accounting Polici_4

Significant Accounting Policies - Summary of Revenues by Type and by Applicable Accounting Standard (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Revenues	$ 384,862	$ 400,696	$ 1,132,501	$ 1,083,410
Topic 842 [Member]
Revenues:
Revenues	305,231	296,589	873,736	816,641
Topic 606 [Member]
Revenues:
Revenues	79,631	104,107	258,765	266,769
Rental Revenues [Member] | Owned Equipment Rentals [Member]
Revenues:
Revenues	279,297	271,151	800,084	745,699
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 842 [Member]
Revenues:
Revenues	279,138	271,019	799,598	745,317
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 606 [Member]
Revenues:
Revenues	159	132	486	382
Rental Revenues [Member] | Re Rent Revenues [Member]
Revenues:
Revenues	8,797	9,106	25,224	25,357
Rental Revenues [Member] | Re Rent Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	8,797	9,106	25,224	25,357
Ancillary And Other Rental Revenues [Member]
Revenues:
Revenues	38,125	35,554	108,592	98,222
Ancillary And Other Rental Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	17,296	16,464	48,914	45,967
Ancillary And Other Rental Revenues [Member] | Topic 606 [Member]
Revenues:
Revenues	20,829	19,090	59,678	52,255
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member]
Revenues:
Revenues	20,829	19,090	59,678	52,255
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member] | Topic 606 [Member]
Revenues:
Revenues	20,829	19,090	59,678	52,255
Ancillary And Other Rental Revenues [Member] | Other [Member]
Revenues:
Revenues	17,296	16,464	48,914	45,967
Ancillary And Other Rental Revenues [Member] | Other [Member] | Topic 842 [Member]
Revenues:
Revenues	17,296	16,464	48,914	45,967
Total Equipment Rental Revenues [Member]
Revenues:
Revenues	326,219	315,811	873,736	869,278
Total Equipment Rental Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	305,231	296,589	933,900	816,641
Total Equipment Rental Revenues [Member] | Topic 606 [Member]
Revenues:
Revenues	20,988	19,222	60,164	52,637
Sales of Rental Equipment [Member]
Revenues:
Revenues	27,790	52,708	110,842	124,476
Sales of Rental Equipment [Member] | Topic 606 [Member]
Revenues:
Revenues	27,790	52,708	110,842	124,476
Sales of New Equipment [Member]
Revenues:
Revenues	14,054	12,633	35,136	29,308
Sales of New Equipment [Member] | Topic 606 [Member]
Revenues:
Revenues	14,054	12,633	35,136	29,308
Parts, Service and Other [Member]
Revenues:
Revenues	16,799	19,544	52,623	60,348
Parts, Service and Other [Member] | Topic 606 [Member]
Revenues:
Revenues	$ 16,799	$ 19,544	$ 52,623	$ 60,348

Significant Accounting Polici_5

Significant Accounting Policies - Additional Information (Detail) - Customer	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Summary Of Significant Accounting Policy [Line Items]
Customer accounted for more than 10% of revenue	0	0	0	0
Bad debt expense as a percentage of total revenues			0.40%	0.30%
Salvage value	25%		25%
Accounting Standards Update [Extensible Enumeration]			us-gaap:AccountingStandardsUpdate202307Member
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2024		Jan. 01, 2024
Change in accounting principle, accounting standards update, adopted	true		true
Change in accounting principle, accounting standards update, immaterial effect	true		true
Cranes and Aerial Work Platform [Member]
Summary Of Significant Accounting Policy [Line Items]
Estimated useful life	10 years		10 years
Earthmoving Equipment [Member]
Summary Of Significant Accounting Policy [Line Items]
Estimated useful life	5 years		5 years
Material Handling Equipment [Member]
Summary Of Significant Accounting Policy [Line Items]
Estimated useful life	7 years		7 years
Attachments and Other Equipment [Member]
Summary Of Significant Accounting Policy [Line Items]
Estimated useful life	3 years		3 years
Topic 842 [Member] | Customer Concentration Risk [Member] | Revenues [Member]
Summary Of Significant Accounting Policy [Line Items]
Percentage of revenue/purchase			77%

Significant Accounting Polici_6

Significant Accounting Policies - Schedule of Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended			12 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024		Sep. 30, 2023	Dec. 31, 2023
Goodwill [Line Items]
Balance	[1]			$ 108,155		$ 102,690	$ 102,690
Increase				17,536	[2]		29	[3]
Decrease		$ 0	$ (5,714)	0		(5,714)
Balance	[1]	135,169		135,169			108,155
Giffin Equipment [Member]
Goodwill [Line Items]
Increase	[4]						11,282
Decrease	[5]			(100)
Lewistown Rentals [Member]
Goodwill [Line Items]
Increase	[6]			8,401
Lewistown Acquisition [Member]
Goodwill [Line Items]
Increase	[7]			526
Precision Rentals [Member]
Goodwill [Line Items]
Increase	[8]			651
Equipment Rentals [Member]
Goodwill [Line Items]
Balance	[1]			99,708		88,529	88,529
Increase				17,536	[2]		29	[3]
Decrease	[9]						(132)
Balance	[1]	126,722		126,722			99,708
Equipment Rentals [Member] | Giffin Equipment [Member]
Goodwill [Line Items]
Increase	[4]						11,282
Decrease	[5]			(100)
Equipment Rentals [Member] | Lewistown Rentals [Member]
Goodwill [Line Items]
Increase	[6]			8,401
Equipment Rentals [Member] | Lewistown Acquisition [Member]
Goodwill [Line Items]
Increase	[7]			526
Equipment Rentals [Member] | Precision Rentals [Member]
Goodwill [Line Items]
Increase	[8]			651
Sales of Rental Equipment [Member]
Goodwill [Line Items]
Balance	[1]			8,447		8,447	8,447
Balance	[1]	$ 8,447		$ 8,447			8,447
Parts Sales [Member]
Goodwill [Line Items]
Balance	[1]					$ 5,714	5,714
Decrease	[10]						$ (5,714)
[1] The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $ 92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and September 30, 2024 in the table above is reflected net of $ 98.4 million of accumulated impairment charges. Increase due to the Precision Rentals (“Precision”) Acquisition during the first quarter of 2024. Increase is related to the closing adjustments of the OSR Acquisition during the first quarter of 2023. Increase due to the Giffin Equipment (“Giffin”) Acquisition during the fourth quarter of 2023. Decrease is related to the purchase accounting adjustment of the Giffin Acquisition during the first quarter of 2024. Increase due to Lewistown Rentals (“Lewistown”) Acquisition during the second quarter of 2024. Increase is related to the final closing adjustment of the Lewistown Acquisition during the third quarter of 2024. Increase is related to the final closing adjustment of the Precision Acquisition during the second quarter of 2024. Decrease is related to the final closing adjustment of the OSR Acquisition during the third quarter of 2023. Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023.

Significant Accounting Polici_7

Significant Accounting Policies - Schedule of Carrying Amount of Goodwill (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Goodwill, net of accumulated impairment charges	$ 98.4	$ 98.4	$ 92.7

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail) - USD ($) $ in Thousands					9 Months Ended
		May 01, 2024	Jan. 01, 2024	Nov. 01, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	[1]				$ 135,169		$ 108,155	$ 102,690
Gain on sales of property and equipment, net					$ 6,449	$ 1,866
Lewistown Rentals [Member]
Business Acquisition [Line Items]
Business acquisition, completion date		May 01, 2024
Aggregate consideration paid		$ 33,800
Percentage of goodwill recognized deductible for income tax purposes					100%
Goodwill	[2]	$ 8,927
Acquisition costs					$ 400
Precision Rentals [Member]
Business Acquisition [Line Items]
Business acquisition, completion date			Jan. 01, 2024
Aggregate consideration paid			$ 124,000
Fair value allocated to intangible assets acquired			37,200
Percentage of goodwill recognized deductible for income tax purposes					100%
Goodwill	[3]		18,187
Acquisition costs					$ 400
Precision Rentals [Member] | Noncompetition Agreements [Member]
Business Acquisition [Line Items]
Fair value allocated to intangible assets acquired			$ 3,500
Giffin Equipment [Member]
Business Acquisition [Line Items]
Business acquisition, completion date				Nov. 01, 2023
Aggregate consideration paid				$ 31,300
Fair value allocated to intangible assets acquired				6,500
Percentage of goodwill recognized deductible for income tax purposes					100%
Goodwill	[4]			11,182
Acquisition costs					$ 100
Giffin Equipment [Member] | Noncompetition Agreements [Member]
Business Acquisition [Line Items]
Fair value allocated to intangible assets acquired				$ 2,600
[1] The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $ 92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and September 30, 2024 in the table above is reflected net of $ 98.4 million of accumulated impairment charges. The acquired goodwill has been allocated to the equipment rentals reporting unit. The acquired goodwill has been allocated to the equipment rentals reporting unit. The acquired goodwill has been allocated to the equipment rentals reporting unit.

Acquisitions and Dispositions_2

Acquisitions and Dispositions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands		Sep. 30, 2024	May 01, 2024	Jan. 01, 2024	Dec. 31, 2023	Nov. 01, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	[1]	$ 135,169			$ 108,155		$ 102,690
Lewistown Rentals [Member]
Business Acquisition [Line Items]
Accounts receivable			$ 953
Prepaid expenses and other assets			1
Rental equipment			19,047
Property and equipment			1,177
Intangible assets	[2]		3,800
Total identifiable assets acquired			24,978
Accounts payable			(79)
Accrued expenses payable and other liabilities			(28)
Total liabilities assumed			(107)
Net identifiable assets acquired			24,871
Goodwill	[3]		8,927
Net assets acquired			$ 33,798
Precision Rentals [Member]
Business Acquisition [Line Items]
Accounts receivable				$ 4,120
Prepaid expenses and other assets				26
Rental equipment				63,215
Property and equipment				2,122
Operating lease right-of-use assets				68
Intangible assets	[4]			33,700
Total identifiable assets acquired				103,251
Accounts payable				(57)
Accrued expenses payable and other liabilities				(832)
Operating lease liabilities				(68)
Total liabilities assumed				(957)
Net identifiable assets acquired				102,294
Goodwill	[5]			18,187
Net assets acquired				120,481
Noncompetition agreement intangible asset	[4],[6]			3,500
Total cumulative consideration				$ 123,981
Giffin Equipment [Member]
Business Acquisition [Line Items]
Accounts receivable						$ 870
Prepaid expenses and other assets						10
Rental equipment						12,291
Property and equipment						431
Operating lease right-of-use assets						121
Intangible assets	[7]					6,500
Total identifiable assets acquired						20,223
Accrued expenses payable and other liabilities						(19)
Operating lease liabilities						(121)
Total liabilities assumed						(140)
Net identifiable assets acquired						20,083
Goodwill	[8]					11,182
Net assets acquired						$ 31,265
[1] The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $ 92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and September 30, 2024 in the table above is reflected net of $ 98.4 million of accumulated impairment charges. The following table reflects the fair values and useful lives of the acquired intangible assets: Fair Value Life (years) Customer relationships $ 3,800 10 The acquired goodwill has been allocated to the equipment rentals reporting unit. The following table reflects the fair values and useful lives of the acquired intangible assets: Fair Value Life (years) Customer relationships $ 33,700 10 Noncompetition agreements 3,500 5 $ 37,200 The acquired goodwill has been allocated to the equipment rentals reporting unit. The fair value of the noncompetition agreements is considered to be a separate transaction under ASC 805 and as such, has been excluded from the purchase price. The following table reflects the fair values and useful lives of the acquired intangible assets: Fair Value Life (years) Customer relationships $ 3,900 10 Noncompetition agreements 2,600 5 $ 6,500 The acquired goodwill has been allocated to the equipment rentals reporting unit.

Acquisitions and Dispositions_3

Acquisitions and Dispositions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - USD ($) $ in Thousands	May 01, 2024	Jan. 01, 2024	Nov. 01, 2023
Lewistown Rentals [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)	$ 3,800
Life (years)	10 years
Precision Rentals [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)		$ 37,200
Precision Rentals [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)		$ 33,700
Life (years)		10 years
Precision Rentals [Member] | Noncompetition Agreements [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)		$ 3,500
Life (years)		5 years
Giffin Equipment [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 6,500
Giffin Equipment [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 3,900
Life (years)			10 years
Giffin Equipment [Member] | Noncompetition Agreements [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 2,600
Life (years)			5 years

Acquisitions and Dispositions_4

Acquisitions and Dispositions - Unaudited Pro Forma Financial Information (Detail) - Giffin Equipment, Precision Rentals And Lewistown Rentals [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Total revenues	$ 414,101	$ 1,135,408	$ 1,123,032
Net income	$ 48,435	$ 89,971	$ 114,099

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Level 3 [Member] | Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable fair value	$ 1,715	$ 2,708
Level 3 [Member] | Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable fair value	1,457	2,490
Level 2 [Member] | Carrying Amount [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior Unsecured Notes due 2028 with interest computed at 3.875% (Level 2)	1,243,934	1,242,852
Level 2 [Member] | Fair Value [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior Unsecured Notes due 2028 with interest computed at 3.875% (Level 2)	$ 1,174,263	$ 1,137,170

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Parenthetical) (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Level 3 [Member] | Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	8.50%	8.75%
Level 3 [Member] | Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	8.50%	8.75%
Level 2 [Member] | Carrying Amount [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	3.875%	3.875%
Senior unsecured notes, due year	2028	2028
Level 2 [Member] | Fair Value [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	3.875%	3.875%
Senior unsecured notes, due year	2028	2028

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfer of financial assets		$ 0	$ 0	$ 0	$ 0
Transfer of financial liabilities		30,000	30,000	30,000	30,000
Impairment of goodwill		$ 0	$ 5,714,000	$ 0	$ 5,714,000
Parts Sales [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Impairment of goodwill	[1]					$ 5,714,000
Fair Value [Member] | Level 1 [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Senior unsecured notes, due year				2028		2028
[1] Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023.

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 576,049	$ 550,678	$ 534,289	$ 449,896	$ 416,687	$ 401,042	$ 534,289	$ 401,042
Beginning Balances, shares			40,823,375				40,823,375
Stock-based compensation	2,616	2,202	$ 3,788	2,275	2,039	2,990
Cash dividends declared on common stock ($0.275 per share)	(10,131)	(10,092)	(9,900)	(10,091)	(10,046)	(9,794)
Issuance of common stock, net of forfeitures	1		2	2		1
Repurchase of shares of restricted common stock	(2,391)		(3,390)	(2,827)		(3,226)
Net income	31,068	33,261	25,889	48,879	41,216	25,674	$ 90,218	115,769
Ending Balances	$ 597,212	576,049	550,678	488,134	449,896	416,687	$ 597,212	488,134
Ending Balances, shares	41,093,266						41,093,266
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 410	$ 410	$ 408	$ 406	$ 406	$ 405	$ 408	$ 405
Beginning Balances, shares	40,955,169	40,960,811	40,823,375	40,695,054	40,700,377	40,567,876	40,823,375	40,567,876
Issuance of common stock, net of forfeitures	$ 1		$ 2	$ 2		$ 1
Issuance of common stock, net of forfeitures, shares	138,097		137,436	129,532		132,501
Restricted stock forfeitures, shares		(5,642)			(5,323)
Ending Balances	$ 411	$ 410	$ 410	$ 408	$ 406	$ 406	$ 411	$ 408
Ending Balances, shares	41,093,266	40,955,169	40,960,811	40,824,586	40,695,054	40,700,377	41,093,266	40,824,586
Additional Paid-in Capital [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 267,917	$ 265,715	$ 261,927	$ 256,930	$ 254,891	$ 251,901	$ 261,927	$ 251,901
Stock-based compensation	2,616	2,202	3,788	2,275	2,039	2,990
Ending Balances	270,533	267,917	265,715	259,205	256,930	254,891	270,533	259,205
Treasury Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	(79,407)	(79,407)	(76,017)	(73,190)	(73,190)	(69,964)	(76,017)	(69,964)
Repurchase of shares of restricted common stock	(2,391)		(3,390)	(2,827)		(3,226)
Ending Balances	(81,798)	(79,407)	(79,407)	(76,017)	(73,190)	(73,190)	(81,798)	(76,017)
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	387,129	363,960	347,971	265,750	234,580	218,700	347,971	218,700
Cash dividends declared on common stock ($0.275 per share)	(10,131)	(10,092)	(9,900)	(10,091)	(10,046)	(9,794)
Net income	31,068	33,261	25,889	48,879	41,216	25,674
Ending Balances	$ 408,066	$ 387,129	$ 363,960	$ 304,538	$ 265,750	$ 234,580	$ 408,066	$ 304,538

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Parenthetical) (Detail) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Equity [Abstract]
Cash dividends declared on common stock, per share	$ 0.275	$ 0.275	$ 0.275	$ 0.275	$ 0.275	$ 0.275	$ 0.825	$ 0.825
Repurchase of restricted common stock, shares	49,645		57,662	57,421		58,211

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) shares
Share-Based Compensation Arrangement By Share-Based Payment Award [Line Items]
Unrecognized compensation expense related to non-vested stock | $	$ 16.5
Expected non-vested stock recognized over a weighted-average period	2 years
Amended and Restated 2016 Stock-Based Incentive Compensation Plan
Share-Based Compensation Arrangement By Share-Based Payment Award [Line Items]
Stock-Based incentive compensation plan | shares	2,221,986

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Non-Vested Stock Activity (Detail)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Non-vested stock, beginning balance, Number of Shares | shares	497,396
Granted, Number of Shares | shares	288,792
Vested, Number of Shares | shares	(269,318)
Forfeited, Number of Shares | shares	(13,061)
Non-vested stock, ending balance, Number of Shares | shares	503,809
Non-vested stock, beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 40.73
Granted, Weighted Average Grant Date Fair Value | $ / shares	48.77
Vested, Weighted Average Grant Date Fair Value | $ / shares	37.86
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	44.64
Non-vested stock, ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 46.76

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Compensation Expense Related to Non-Vested Stock (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Compensation expense	$ 2,616	$ 2,275	$ 8,606	$ 7,304

Income per Share - Additional I

Income per Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Restricted common shares, percentage	1%	1%	1%	1%

Income per Share - Summary of C

Income per Share - Summary of Computation of Basic and Diluted Net Income Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Line Items]
Net income	$ 31,068	$ 33,261	$ 25,889	$ 48,879	$ 41,216	$ 25,674	$ 90,218	$ 115,769
Weighted average number of common shares outstanding:
Basic	36,300			36,134			36,249	36,078
Diluted	36,459			36,322			36,497	36,326
Income per share:
Basic net income per share	$ 0.86			$ 1.35			$ 2.49	$ 3.21
Diluted net income per share	0.85			1.35			2.47	3.19
Common shares excluded from the denominator as anti-dilutive:
Dividends declared per common share outstanding	$ 0.275	$ 0.275	$ 0.275	$ 0.275	$ 0.275	$ 0.275	$ 0.825	$ 0.825
Non-vested restricted stock [Member]
Weighted average number of common shares outstanding:
Effect of dilutive non-vested restricted stock	159			188			248	248
Common shares excluded from the denominator as anti-dilutive:
Non-vested restricted stock	213			205			71	68

Senior Secured Credit Facility

Senior Secured Credit Facility - Additional Information (Detail) $ in Millions	Sep. 30, 2024 USD ($)
3.875% Senior Notes [Member]
Debt Instrument [Line Items]
Asset based facility with its lenders	$ 1,526.3
Wells Fargo Capital Finance, LLC [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Asset based facility with its lenders	750
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit	276.3
Available borrowings under our senior secured credit facility	461.3
Outstanding standby letters of credit	$ 12.3
Weighted average interest rate	7.20%

Senior Unsecured Notes - Additi

Senior Unsecured Notes - Additional Information (Detail) - 3.875% Senior Notes [Member] $ in Millions	Dec. 14, 2020 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,250
Senior unsecured notes, interest rate	3.875%
Senior unsecured notes, maturity year	2028

Senior Unsecured Notes - Reconc

Senior Unsecured Notes - Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	$ 1,242,852
Amortization of deferred financing costs	1,050	$ 1,009
Senior unsecured notes, ending balance	1,243,934		$ 1,242,852
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	1,242,852	$ 1,241,409	1,241,409
Senior unsecured notes, ending balance	1,243,934		1,242,852
Senior Unsecured Notes [Member] | 3.875% Senior Notes [Member]
Debt Instrument [Line Items]
Accretion of discount	879		1,172
Amortization of deferred financing costs	$ 203		$ 271

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions	Sep. 30, 2024 USD ($)
Leases [Abstract]
Weighted average remaining lease term for operating leases	7 years 8 months 12 days
Weighted average remaining lease term for finance leases	8 years
Weighted average discount rate for operating leases	6.40%
Weighted average discount rate for finance leases	6%
Future minimum operating lease payments 2024	$ 0.1
Future minimum operating lease payments 2025	2.4
Future minimum operating lease payments 2026	3.9
Future minimum operating lease payments 2027	4
Future minimum operating lease payments 2028	4.1
Future minimum operating lease payments thereafter	$ 28.8

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2024 Customer	Jun. 30, 2024 Segment	Sep. 30, 2023 Customer	Sep. 30, 2024 Customer Segment	Sep. 30, 2023 Customer	Dec. 31, 2023 Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segment				4		5
Sales to international customers	0.10%		0.10%	0.10%	0.10%
Customer accounted for more than 10% of revenue | Customer	0		0	0	0
Parts Sales and Service Revenues [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segment		1

Segment Information - Schedule

Segment Information - Schedule of Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Revenues:
Revenues	$ 384,862	$ 400,696	$ 1,132,501	$ 1,083,410
Segment Gross Profit (Loss):
Total gross profit	171,454	188,383	507,599	498,122
Segment identified assets:
Total assets	2,892,666		2,892,666		$ 2,639,886
Equipment Rentals [Member]
Segment Revenues:
Revenues	326,219	315,811	933,900	869,278
Sales of Rental Equipment [Member]
Segment Revenues:
Revenues	27,790	52,708	110,842	124,476
Sales of New Equipment [Member]
Segment Revenues:
Revenues	14,054	12,633	35,136	29,308
Parts, Service and Other [Member]
Segment Revenues:
Revenues	16,799	19,544	52,623	60,348
Operating Segments [Member]
Segment Revenues:
Revenues	384,862	400,696	1,132,501	1,083,410
Segment Gross Profit (Loss):
Total gross profit	171,454	188,383	507,599	498,122
Segment identified assets:
Total assets	1,946,687		1,946,687		1,866,509
Operating Segments [Member] | Equipment Rentals [Member]
Segment Revenues:
Revenues	326,219	315,811	933,900	869,278
Segment Gross Profit (Loss):
Total gross profit	147,844	149,849	417,988	400,582
Segment identified assets:
Total assets	1,924,653		1,924,653		1,756,578
Operating Segments [Member] | Sales of Rental Equipment [Member]
Segment Revenues:
Revenues	27,790	52,708	110,842	124,476
Segment Gross Profit (Loss):
Total gross profit	16,733	30,815	68,836	73,080
Operating Segments [Member] | Sales of New Equipment [Member]
Segment Revenues:
Revenues	14,054	12,633	35,136	29,308
Segment Gross Profit (Loss):
Total gross profit	2,788	1,671	6,359	4,030
Operating Segments [Member] | Equipment Sales [Member]
Segment identified assets:
Total assets	9,192		9,192		98,045
Operating Segments [Member] | Parts, Service and Other [Member]
Segment Revenues:
Revenues	16,799	19,544	52,623	60,348
Segment Gross Profit (Loss):
Total gross profit	4,089	$ 6,048	14,416	$ 20,430
Segment identified assets:
Total assets	12,842		12,842		11,886
Non-Segmented Other [Member]
Segment identified assets:
Total assets	$ 945,979		$ 945,979		$ 773,377