Baton Rouge-based H&E Equipment Services Inc. reported a first-quarter profit of $4 million, or 11 cents per share, compared to a loss of $6.5 million, or 19 cents per share, a year earlier.
The heavy equipment supplier boosted revenue in all segments. Revenue rose 28.7 percent to $173.7 million versus $134.9 million a year ago.
H&E’s sales of new equipment jumped 40.5 percent to $41 million, thanks to higher crane sales. H&E’s rental revenue increased 23 percent, or $11.2 million, to $59.6 million. Customers rented equipment for longer periods at higher rates, and H&E also increased the size of its rental fleet.
H&E’s business momentum carried over from the fourth quarter, H&E President and Chief Executive Officer John Engquist said in a news release.
“The construction environment continues to improve and we experienced elevated demand across all the regions we serve, especially in our Gulf Coast and Intermountain regions where energy-related activity remains especially high,” Engquist said.
The company’s 2012 outlook remains positive based on current market conditions, he said.