FX.co ★ H&E Equipment Services Down In Pre-market After Q1 Profit Misses Consensus Estimate

H&E Equipment Services, Inc.'s shares have seen a pre-market downturn of over 6%, decreasing to $55.20 on Tuesday following reported Q1 earnings that didn't match analyst's expectations.

The profit of the first quarter was reported to be $25.89 million or $0.71 per share, which evidently represents little difference when compared to the $25.67 million, or $0.71 per share assessed a year ago. However, these earnings fell short of the anticipated $0.78 per share that was the average estimate of 5 analysts, per data collected by Thomson-Reuters.

Meanwhile, quarterly revenue witnessed a mild shift upwards by 15.2%, thereby landing at $371.357 million up from $322.482 million noted this time last year. This increment did manage to surpass the consensus estimate of $352.52 million.

H&E shares had ended Monday with a closing price of $59.22. During the past year, the stock has witnessed a trading range varying from $32.33 to $66.18.