Investigation announced for Long-Term Investors in shares of H&E Equipment Services, Inc. (NASDAQ: HEES) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at H&E Equipment Services, Inc.

Investors who purchased shares of H&E Equipment Services, Inc. (NASDAQ: HEES) and currently hold any of those H&E Equipment Services, Inc. (NASDAQ: HEES shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain H&E Equipment Services, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Baton Rouge, LA based H&E Equipment Services, Inc. operates as an integrated equipment services company in the United States. H&E Equipment Services, Inc. reported that its annual Total Revenue rose from over $1.24 billion in 2022 to over $1.46 billion in 2023, and that its Net Income increased from $132.17 million in 2022 to $169.29 million in 2023.

On February 22, 2024, H&E Equipment Services, Inc. released its Q4-2023 earnings in which the Company's officers presented an "optimistic" outlook for the Company's financials in 2024. H&E officers described a favorable rental environment and "sound" industry fundamentals and thus anticipated further growth.

However, on April 30, 2024, H&E Equipment Services, Inc. hosted its Q1-2024 quarterly earnings call on which H&E Officers announced reduced capital expenditure ("CapEx") guidance. Company officers said the CapEx cut was due to reduced equipment utilization, "subdued" spending on construction projects, and persistently high interest rates. Analysts said the reduced CapEx reflects an "incrementally negative outlook" for the Company.

Shares of H&E Equipment Services, Inc. (NASDAQ: HEES) declined from $66.18 per share on April 08, 2024, to as low as $42.23 per share on June 17, 2024.

Those who purchased shares of H&E Equipment Services, Inc. (NASDAQ: HEES) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.