Let's talk about HRI. They have really started to fire on all cylinders and excess demand that URI can't fill due to running at full utilization is flowing to HRI. They continue to get price and consensus doesn't seem to appreciate the earnings power of the restructured and rejuvenated business. As the largest shareholder, how do you think about the deep discount at which it trades to peer URI on an EV/OEC vs. EV/EBITDA basis? Goldman analyst doesn't seem to understand the business and calling it a short due to this being the "top of the cycle" - your thoughts on this business and outlook at this point during the "cycle"? Would you prefer URI stock or cash in an acquisition scenario?
zequalizer3 karma
Let's talk about HRI. They have really started to fire on all cylinders and excess demand that URI can't fill due to running at full utilization is flowing to HRI. They continue to get price and consensus doesn't seem to appreciate the earnings power of the restructured and rejuvenated business. As the largest shareholder, how do you think about the deep discount at which it trades to peer URI on an EV/OEC vs. EV/EBITDA basis? Goldman analyst doesn't seem to understand the business and calling it a short due to this being the "top of the cycle" - your thoughts on this business and outlook at this point during the "cycle"? Would you prefer URI stock or cash in an acquisition scenario?
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