02:12 PM EDT, 04/30/2024 (MT Newswires) -- H&E Equipment Services ( HEES ) shares dropped nearly 18% in recent Tuesday trading after the company posted lower-than-expected Q1 earnings.

The equipment rental agency reported Q1 diluted earnings of $0.71, the same as a year ago. Three analysts polled by Capital IQ expected $0.74.

Revenue for the quarter ended March 31 was $371.4 million, up from $322.5 million a year earlier. Analysts surveyed by Capital IQ expected $352.5 million.

Price: 48.66, Change: -10.56, Percent Change: -17.83