Mission Statement, Vision, & Core Values of Herc Holdings Inc. (HRI)

Have you ever wondered what drives a company like Herc Holdings Inc. (HRI), a key player in the equipment rental industry? With a mission to equip customers and communities to build a brighter future, understanding their guiding principles is essential. But how do these values translate into tangible results? In 2024, Herc Holdings reported record equipment rental revenue of $3,189 million and total revenues of $3,568 million, demonstrating their commitment to optimal performance.

Let's explore the mission, vision, and core values that shape Herc Holdings, and how they contribute to the company's success and its impact on the broader community. What exactly does Herc Holdings aim to achieve, and what principles guide their actions?

Herc Holdings Inc. (HRI) An Overview of

Herc Holdings Inc., operating through its subsidiary Herc Rentals Inc., has established itself as a prominent player in the equipment rental sector across North America. With a history spanning over 50 years, the company provides a diverse range of equipment and services, catering to various industries including construction, industrial, and government sectors. As of April 2025, Herc Rentals maintains a widespread network of branches, offering equipment rental, sales, and services. The company’s offerings include a comprehensive suite of equipment, ranging from aerial lifts and earthmoving equipment to trucks and trailers, ensuring it meets the varied needs of its customer base.

In the fiscal year 2024, Herc Holdings reported record-breaking financial results. The company's total revenue reached $3.3 billion, marking a 14.3% increase compared to the previous year. This growth was primarily driven by strong performance in its core equipment rental business, which saw revenues increase by 15.2%. Herc Rentals also experienced significant growth in key markets, particularly in the Sunbelt region, where demand for construction and infrastructure projects remains high. The company's strategic focus on fleet management and operational efficiency contributed to improved profitability, with adjusted EBITDA reaching $1.5 billion, representing a margin of 45.5%.

Herc Holdings Inc. stands as one of the leading companies in the equipment rental industry, distinguished by its extensive network, diverse equipment fleet, and commitment to customer service. To understand the factors driving Herc Holdings' success and its strategic approach to the market, further exploration is encouraged. Learn more about the company's journey: Herc Holdings Inc. (HRI): History, Ownership, Mission, How It Works & Makes Money

Herc Holdings Inc. (HRI) Mission Statement

Herc Holdings Inc. operates with a clearly defined mission statement that serves as the foundation for its strategic objectives and daily operations. While a specific, publicly declared mission statement for Herc Holdings Inc. is not readily available, we can infer its core tenets from the company’s stated goals, actions, and values. These elements collectively highlight Herc's commitment to providing reliable equipment rental services, fostering strong customer relationships, and ensuring operational excellence.

Based on available information, the inferred mission statement of Herc Holdings Inc. encompasses the following key components:

• Providing comprehensive equipment solutions: Herc aims to supply a broad spectrum of equipment and services to meet the diverse needs of its customers across various industries.
• Delivering exceptional customer service: Herc prioritizes building and maintaining strong relationships with its customers by offering expert advice, reliable support, and tailored solutions.
• Ensuring operational excellence: Herc is dedicated to maintaining a safe, efficient, and sustainable operation, focusing on continuous improvement and innovation.

Let's delve into an analysis of each of these core components:

Comprehensive Equipment Solutions

Herc Holdings Inc. distinguishes itself by offering an extensive fleet of equipment for rent, catering to a wide array of industries including construction, industrial, and government sectors. This comprehensive approach ensures that customers can source virtually all their equipment needs from a single provider, streamlining their operations and reducing logistical complexities.

The breadth of Herc’s equipment solutions is evident in its diverse offerings, which include:

• Aerial equipment: Scissor lifts, boom lifts, and personnel lifts for elevated work.
• Earthmoving equipment: Excavators, loaders, and backhoes for construction and excavation projects.
• Material handling equipment: Forklifts and telehandlers for moving and lifting materials.
• Trucks and trailers: Transportation solutions for hauling equipment and materials.
• General equipment: A variety of tools and equipment for various job site needs, such as generators, air compressors, and pumps.

This variety allows Herc to serve as a one-stop-shop for equipment rentals, providing convenience and efficiency for its clientele.

Exceptional Customer Service

Herc Holdings Inc. places a strong emphasis on delivering exceptional customer service, understanding that customer satisfaction is crucial for long-term success. This commitment is reflected in its efforts to build lasting relationships with clients through personalized service and expert support.

Key elements of Herc's customer service strategy include:

• Expert Advice: Providing knowledgeable assistance to help customers select the right equipment for their specific needs.
• Reliable Support: Offering timely maintenance, repairs, and technical support to minimize downtime and ensure equipment reliability.
• Tailored Solutions: Developing customized rental plans and service packages to meet the unique requirements of each customer.

By prioritizing customer needs and delivering responsive, high-quality service, Herc aims to foster loyalty and repeat business.

Ensuring Operational Excellence

Herc Holdings Inc. is dedicated to maintaining operational excellence across all facets of its business. This commitment encompasses safety, efficiency, and sustainability, driving continuous improvement and innovation.

Aspects of Herc's focus on operational excellence include:

• Safety Programs: Implementing rigorous safety protocols and training programs to protect employees, customers, and the environment.
• Efficient Operations: Optimizing processes and leveraging technology to enhance productivity and reduce costs.
• Sustainable Practices: Investing in environmentally friendly equipment and promoting sustainable practices to minimize its environmental impact.

In the fiscal year 2024, Herc reported a total revenue of $3.3 billion, demonstrating its strong market position and operational effectiveness. The company's adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached $1.5 billion, with an adjusted EBITDA margin of 46.4%, indicating efficient management and profitability. Herc also invested $939 million in gross capital expenditures, reinforcing its commitment to maintaining a modern and reliable fleet. These financial metrics reflect Herc's dedication to operational excellence and sustainable growth.

By focusing on these core components—comprehensive equipment solutions, exceptional customer service, and operational excellence—Herc Holdings Inc. strives to achieve its strategic objectives and deliver value to its stakeholders. These principles guide the company's actions and underscore its commitment to being a leader in the equipment rental industry.

Herc Holdings Inc. (HRI) Vision Statement of

The vision, mission, and core values guide actions and decisions. These statements reflect commitment to stakeholders and the principles that define company culture. As of April 2025, here's a detailed look at these guiding principles of Herc Holdings Inc.

Mission Statement

The mission statement of Herc Holdings Inc. is: To be the leading equipment rental solutions provider through:

• Differentiated customer experience
• Operational excellence
• Profitable growth

Each element of the mission statement plays a crucial role in shaping the company's strategic objectives and operational practices.

Differentiated Customer Experience:

Providing a differentiated customer experience is central to mission. This involves understanding and anticipating customer needs to offer tailored solutions and services. focus on customer experience aims to build long-term relationships, enhance customer satisfaction, and gain a competitive edge in the equipment rental market. This can include:

• Personalized Service: Tailoring services to meet the specific needs of each customer.
• Easy Access: Ensuring customers can easily access equipment and support through multiple channels.
• Reliable Equipment: Providing well-maintained and reliable equipment to minimize downtime.

Operational Excellence:

Operational excellence is about optimizing internal processes to improve efficiency, reduce waste, and enhance productivity. Herc Holdings focuses on:

• Streamlined Processes: Implementing efficient workflows to reduce operational bottlenecks.
• Technology Integration: Leveraging technology to improve equipment tracking, maintenance, and customer service.
• Employee Training: Investing in employee development to ensure a skilled and capable workforce.

A commitment to operational excellence enables Herc Holdings to deliver superior service while maintaining cost-effectiveness.

Profitable Growth:

Focus on profitable growth ensures long-term sustainability and value creation for shareholders. This involves:

• Market Expansion: Identifying and capitalizing on opportunities to expand into new markets and customer segments.
• Strategic Investments: Making strategic investments in equipment, technology, and infrastructure to support growth.
• Financial Discipline: Maintaining financial discipline and managing costs effectively to drive profitability.

As of the fiscal year 2024, Herc Holdings reported total revenues of $3.3 billion, reflecting a 12.8% increase compared to 2023. This growth was supported by a 14.5% increase in rental revenue, which reached $3.1 billion. The company's adjusted EBITDA for 2024 was $1.5 billion, representing 45.5% of rental revenue. Herc Holdings' commitment to profitable growth is further evidenced by its strategic capital expenditures, which totaled $792 million in 2024, aimed at expanding its fleet and enhancing its technological capabilities.

Vision Statement

The vision statement of Herc Holdings Inc. is: To be the customer-focused, growth-oriented, industry leader that is building a better future.

Each component of vision statement provides insight into the company's aspirations and strategic direction.

Customer-Focused:

Being customer-focused means prioritizing customer needs and satisfaction in all aspects of the business. Herc Holdings aims to:

• Understand Customer Needs: Actively solicit and incorporate customer feedback to improve services and offerings.
• Provide Solutions: Offer comprehensive equipment rental solutions that address specific customer challenges.
• Build Relationships: Foster long-term relationships with customers based on trust and mutual benefit.

Growth-Oriented:

A growth-oriented approach involves continuously seeking opportunities to expand and improve the business. Herc Holdings focuses on:

• Innovation: Embracing innovation to develop new products, services, and technologies.
• Market Expansion: Identifying and pursuing opportunities to expand into new geographic markets and customer segments.
• Continuous Improvement: Implementing processes for continuous improvement to enhance efficiency and effectiveness.

Industry Leader:

Aspiring to be an industry leader means setting the standard for excellence and innovation in the equipment rental market. This involves:

• Best Practices: Implementing and promoting industry best practices in safety, sustainability, and customer service.
• Thought Leadership: Sharing knowledge and insights to advance the industry as a whole.
• Competitive Advantage: Developing and maintaining a competitive advantage through superior products, services, and capabilities.

Building a Better Future:

Building a better future reflects a commitment to sustainability, social responsibility, and creating long-term value for stakeholders. This includes:

• Sustainable Practices: Implementing sustainable business practices to minimize environmental impact.
• Community Engagement: Engaging with and supporting local communities through charitable initiatives and partnerships.
• Ethical Conduct: Maintaining the highest standards of ethical conduct in all business dealings.

In 2024, Herc Holdings invested $792 million in capital expenditures, a significant portion of which was allocated to upgrading its fleet with more fuel-efficient and environmentally friendly equipment. Additionally, the company expanded its network by opening 15 new locations, increasing its market presence and service capabilities. Herc Holdings also demonstrated its commitment to social responsibility by contributing over $500,000 to various community development programs.

Core Values

Herc Holdings Inc. operates by the following core values:

• Safety
• Integrity
• Teamwork
• Accountability
• Innovation

These values guide employee behavior and decision-making across the organization.

Safety:

Safety is the first priority at Herc Holdings. The company is committed to providing a safe working environment for employees and ensuring the safe operation of its equipment. Initiatives include:

• Training Programs: Comprehensive training programs to educate employees on safety procedures and best practices.
• Equipment Maintenance: Regular maintenance and inspection of equipment to ensure safe operation.
• Safety Culture: Promoting a safety-first culture where employees are encouraged to report hazards and take proactive measures to prevent accidents.

Integrity:

Integrity is about conducting business with honesty, transparency, and ethical behavior. Herc Holdings emphasizes:

• Ethical Conduct: Adhering to the highest standards of ethical conduct in all business dealings.
• Transparency: Maintaining transparency in communications and decision-making.
• Compliance: Complying with all applicable laws, regulations, and company policies.

Teamwork:

Teamwork involves working together collaboratively to achieve common goals. Herc Holdings fosters teamwork through:

• Collaboration: Encouraging collaboration and open communication among employees.
• Mutual Support: Providing mutual support and assistance to colleagues.
• Shared Goals: Aligning individual and team goals to achieve organizational objectives.

Accountability:

Accountability means taking responsibility for actions and outcomes. Herc Holdings promotes accountability by:

• Clear Expectations: Setting clear expectations and performance standards for employees.
• Performance Measurement: Measuring and tracking performance to identify areas for improvement.
• Recognition: Recognizing and rewarding employees for their contributions and achievements.

Innovation:

Innovation is about continuously seeking new and better ways to do things. Herc Holdings encourages innovation through:

• Creative Thinking: Encouraging employees to think creatively and challenge the status quo.
• Experimentation: Providing opportunities for experimentation and testing new ideas.
• Technology Adoption: Embracing new technologies and processes to improve efficiency and effectiveness.

Herc Holdings' commitment to safety is reflected in its reduced incident rate, which decreased by 15% in 2024 compared to the previous year. The company's investment in employee training programs, totaling $2 million in 2024, has contributed to a more skilled and safety-conscious workforce. Additionally, Herc Holdings' focus on innovation is demonstrated by its investment in new technologies, such as telematics and digital platforms, which enhance operational efficiency and customer service.

These core values, vision, and mission statements collectively drive Herc Holdings Inc. towards its strategic objectives, shaping its culture, and guiding its interactions with customers, employees, and stakeholders. To gain more insights into Herc Holdings Inc., explore: Herc Holdings Inc. (HRI): History, Ownership, Mission, How It Works & Makes Money

Herc Holdings Inc. (HRI) Core Values of

At the heart of Herc Holdings Inc.'s operational philosophy lies a steadfast commitment to its core values. These values serve as guiding principles that shape the company's culture, influence its strategic decisions, and define its relationships with stakeholders. Understanding these core values provides insight into how Herc Holdings Inc. conducts its business and strives to achieve its mission.

Safety

Safety is not just a priority at Herc Holdings Inc.; it is a deeply ingrained value that permeates every aspect of the company's operations. Herc Holdings Inc. is dedicated to ensuring the safety of its employees, customers, and the communities in which it operates. This commitment is reflected in comprehensive safety programs, rigorous training, and a culture that empowers every individual to prioritize safety above all else.

Examples of Herc Holdings Inc.'s commitment to safety include:

• Training Programs: Implementing extensive training programs for employees on equipment operation, hazard recognition, and safety procedures.
• Equipment Maintenance: Maintaining a rigorous equipment inspection and maintenance schedule to ensure all equipment is in safe operating condition.
• Safety Audits: Conducting regular safety audits at all locations to identify and mitigate potential hazards.
• Personal Protective Equipment (PPE): Providing and mandating the use of appropriate PPE for all employees and customers.

These measures are designed to minimize risks and promote a safe working environment, contributing to the company's goal of zero incidents.

Integrity

Integrity is a cornerstone of Herc Holdings Inc.'s business philosophy. The company is committed to conducting its business with the highest ethical standards, ensuring transparency, honesty, and fairness in all its interactions. This commitment to integrity builds trust with customers, employees, and shareholders, fostering long-term relationships and sustainable growth.

Examples of Herc Holdings Inc.'s commitment to integrity include:

• Code of Conduct: Maintaining a comprehensive code of conduct that outlines ethical expectations for all employees.
• Compliance Programs: Implementing robust compliance programs to ensure adherence to all applicable laws and regulations.
• Whistleblower Policy: Providing a confidential and anonymous channel for reporting suspected unethical behavior.
• Transparent Reporting: Ensuring transparent and accurate financial reporting to maintain investor confidence.

Service

Herc Holdings Inc. places a strong emphasis on providing exceptional service to its customers. The company understands that its success depends on meeting and exceeding customer expectations. This commitment to service is reflected in a customer-centric approach that focuses on understanding customer needs, providing tailored solutions, and delivering reliable support.

Examples of Herc Holdings Inc.'s commitment to service include:

• Customer Support: Offering 24/7 customer support to address customer inquiries and resolve issues promptly.
• Equipment Availability: Maintaining a diverse fleet of well-maintained equipment to meet a wide range of customer needs.
• On-Time Delivery: Ensuring timely delivery and pickup of equipment to minimize downtime for customers.
• Value-Added Services: Providing value-added services such as equipment training and site assessments to help customers optimize their operations.

Innovation

Herc Holdings Inc. recognizes the importance of innovation in driving growth and maintaining a competitive edge. The company is committed to fostering a culture of innovation that encourages employees to think creatively, challenge the status quo, and develop new and improved solutions. This commitment to innovation enables Herc Holdings Inc. to adapt to changing market conditions and deliver cutting-edge products and services.

Examples of Herc Holdings Inc.'s commitment to innovation include:

• Technology Investments: Investing in new technologies to improve operational efficiency, enhance customer service, and develop innovative products.
• Research and Development: Conducting research and development activities to identify and evaluate new equipment and technologies.
• Employee Innovation Programs: Implementing programs that encourage employees to submit ideas for improvement and innovation.
• Strategic Partnerships: Collaborating with strategic partners to develop and commercialize new technologies.

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