H&E opens three new branches
By Lindsey Anderson13 June 2023
H&E Equipment Services has opened three new branches, the company announced. In late May, H&E announced its new Monroe, LA location, followed by new branches in Pueblo, CO and Houston South, TX in June. The company now has 22 total depots accross the U.S.
The openings follow H&E’s 2023 goals of opening no less than 10 new locations, according to Chief Executive Officer Brad Barber, with at least six of those occuring during Q2.
“Regarding new locations, our previously reported goal in 2023 of no less than 10 new locations and possibly as many as 15 remains unchanged,” Barber said during an investors call on April 27. “We remain focused on greater density in key geographic regions.”
Moving forward, H&E sees favorable market condition attributing to its expansion and growth, with Barber adding, “The only reason we do not open 10 to 15 locations on a go-forward basis would be an economic disruption that we don’t see yet. If we were to see a severe recessionary period, we’re not going to continue opening at the same pace. But bar that type of situation, you should expect us to open 10 to 15 locations a year in high-growth markets that are stable and will serve the company... well for decades to come.”
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