##### 



Exhibit 99.1
 (H&E EQUIPMENT LOGO)
    
    News Release
 Contacts:
 lmagee@he-equipment.com
 kevin.Inda@cci-ir.com
 H&E Equipment Services Reports Third Quarter Results
 BATON ROUGE, Louisiana  (Nov. 8, 2007) 
 Third Quarter 2007 Summary
 
    
    Revenues increased 32.6% to $270.6 million versus $204.1 million a year ago.
    
    Gross profit increased 22.0% to $83.9 million from $68.7 million a year ago.
    
    EBITDA, as adjusted, (as defined below) increased 21.0% to $69.6 million compared to
$57.5 million of EBITDA, as adjusted, a year ago.
    
    Income from operations increased 21.5% to $42.4 million compared to $34.9 million a
year ago.
    
    Net income increased to $20.2 million compared to a net loss of $11.5 million a year
ago. Net income, as adjusted, was at $20.4 million for both periods.
    
    Total gross margin decreased to 31.0% compared to 33.7% a year ago.




---



##### 



st
   2007 Outlook
  
    
    Revenue The Company now expects 2007 revenue in the range of $995 million to $1.007
billion.
    
    EBITDA The Company is raising its 2007 EBITDA guidance in the range of $246 million
to $252 million.
    
    Earnings Per Share The Company now expects 2007 earnings per share in the range of
$1.70 to $1.75 per share based on 38.2 million diluted common shares outstanding and an
effective tax rate of approximately 38.5%. Relative to the Companys 2006 results, its
2007 guidance is based on a significantly higher effective tax rate, 38.5% versus 22.9%,
and an increase in common shares outstanding given the effective date of the initial public
offering in February 2006.




---



##### 



FINANCIAL DISCUSSION FOR THIRD QUARTER ENDED SEPTEMBER 30, 2007
 
    
    Revenues Total third quarter revenues increased $66.5 million to $270.6 million from
$204.1 million in the third quarter of 2006. Third quarter revenues included $10.1 million
from Burress. The following is revenue by business segment for the third quarter versus
the third quarter of 2006:
 -
    
    Equipment rentals Equipment rental revenues were $75.6 million compared with
$67.3 million, reflecting an increase of $8.3 million, or 12.3%. At the end of the
third quarter of 2007, the original acquisition cost of the Companys rental fleet was
$779.9 million (including $74.0 million of original acquisition cost of Burress rental
fleet), up $131.8 million from $648.1 million at the end of the third quarter of 2006.
Third quarter equipment rental revenues included $1.3 million from Burress. Dollar
utilization was 41.9%, including September results from Burress, compared to 42.4%.
Dollar utilization was 42.7% excluding September results from Burress.-
    
    New equipment sales New equipment sales were $94.7 million compared with
$60.7 million, reflecting an increase of $34.0 million, or 56.0%. Third quarter new
equipment sales included $3.0 million from Burress.-
    
    Used equipment sales Used equipment sales were $44.5 million compared to
$29.7 million, reflecting an increase of $14.8 million, or 49.7%. Third quarter used
equipment sales included $2.9 million from Burress.-
    
    Parts sales- Parts sales were $26.7 million, representing a $5.7 million, or
27.2%, increase compared with $21.0 million. Third quarter parts sales included $1.8
million from Burress.-
    
    Service revenues- Service revenues were $16.9 million, representing a $2.8
million, or 19.7%, increase compared with $14.1 million. Third quarter service
revenues included $0.8 million from Burress.
 
    
    Gross Profit Total gross profit for the third quarter of 2007 was $83.9 million
compared with $68.7 million for the third quarter of 2006, reflecting an increase of $15.2
million, or 22.1%. Third quarter gross profit margin decreased to 31.0% from 33.7% for the
third quarter of 2006, primarily as a result of revenue mix. Third quarter gross profit
included $2.3 million from Burress. The following is gross profit by business segment for
the third quarter of 2007 versus the third quarter of 2006:
 -
    
    Equipment Rentals Gross profit from equipment rentals increased to $40.0
million from $36.3 million. Third quarter equipment rental gross profit included $0.4
million from Burress.-
    
    New equipment sales New equipment sales gross profit increased to $13.2
million from $7.4 million. Third quarter new equipment sales gross profit included
$0.4 million from Burress.-
    
    Used equipment sales Used equipment sales gross profit increased to $10.8
million compared to $8.0 million. Third quarter used equipment sales gross profit
included $0.5 million from Burress.




---



##### 



-
    
    Parts sales Gross profit from parts sales increased to $7.8 million from
$6.1 million. Third quarter parts gross profit included $0.6 million from Burress.-
    
    Service revenues Gross profit from service revenues increased to $10.7
million from $9.0 million. Third quarter service gross profit included $0.4 million
from Burress.
 
    
    Selling, General And Administrative Expenses Selling, general and administrative
expenses for the third quarter of 2007 were $41.6 million compared with $34.1 million last
year, a $7.5 million, or 22.0%, increase. As a percentage of total revenues, selling,
general and administrative expenses for the third quarter of this year were 15.4% compared
with 16.7% last year. Third quarter selling, general and administrative expenses included
$1.2 million from Burress.
    
    Income From Operations The Company reported income from operations of $42.4 million
compared to $34.9 million in the third quarter of last year, reflecting an increase of $7.5
million, or 21.5%. Third quarter income from operations included $1.0 million from
Burress.
    
    Net Income Net income increased to $20.2 million from a net loss of $11.5 million in
the third quarter of last year. The Companys third quarter 2007 results included a $0.3
million ($0.2 million after-tax) and third quarter 2006 results included a $40.8 million
($32.0 million after-tax) loss on early extinguishment of debt. Net income, as adjusted,
was $20.4 million as compared to $20.4 million a year ago. The effective tax rate
increased to 39.4% as compared with 21.6% last year.
    
    EBITDA EBITDA, as adjusted, for the third quarter increased 21.0% to $69.6 million
compared with $57.5 million during the third quarter of 2006. EBITDA, as adjusted, as a
percentage of revenues was 25.7% compared with 28.2% in the third quarter of 2006. Burress
contributed $1.7 million of EBITDA for the one month of September.
 Non-GAAP Financial Measures
 Conference Call
 www.he-equipment.com www.earnings.com www.he-equipment.com




---



##### 



About H&E Equipment Services, Inc.
 Forward-Looking Statements




---



##### 



H&E EQUIPMENT SERVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
(Amounts in thousands, except per share amounts)
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2007
    
    
    2006
    
    
    2007
    
    
    2006Revenues:Equipment rentals
    
    $
    75,598
    
    
    $
    67,327
    
    
    $
    208,371
    
    
    $
    185,333New equipment sales
    
    
    94,675
    
    
    
    60,673
    
    
    
    240,910
    
    
    
    173,333Used equipment sales
    
    
    44,503
    
    
    
    29,668
    
    
    
    110,190
    
    
    
    97,387Parts sales
    
    
    26,716
    
    
    
    21,024
    
    
    
    73,803
    
    
    
    61,574Service revenues
    
    
    16,877
    
    
    
    14,074
    
    
    
    46,599
    
    
    
    39,782Other
    
    
    12,218
    
    
    
    11,369
    
    
    
    33,595
    
    
    
    31,472Total revenues
    
    
    270,587
    
    
    
    204,135
    
    
    
    713,468
    
    
    
    588,881Cost of revenues:Rental depreciation
    
    
    24,468
    
    
    
    20,644
    
    
    
    68,132
    
    
    
    56,674Rental expense
    
    
    11,173
    
    
    
    10,339
    
    
    
    33,802
    
    
    
    31,427New equipment sales
    
    
    81,523
    
    
    
    53,321
    
    
    
    208,875
    
    
    
    151,615Used equipment sales
    
    
    33,730
    
    
    
    21,708
    
    
    
    82,604
    
    
    
    71,253Parts sales
    
    
    18,895
    
    
    
    14,895
    
    
    
    52,224
    
    
    
    43,499Service revenues
    
    
    6,131
    
    
    
    5,045
    
    
    
    16,899
    
    
    
    14,343Other
    
    
    10,768
    
    
    
    9,436
    
    
    
    30,112
    
    
    
    27,005Total cost of revenues
    
    
    186,688
    
    
    
    135,388
    
    
    
    492,648
    
    
    
    395,816Gross profit
    
    
    83,899
    
    
    
    68,747
    
    
    
    220,820
    
    
    
    193,065Selling, general, and
administrative
expenses
    
    
    41,609
    
    
    
    34,118
    
    
    
    117,124
    
    
    
    108,545Gain on sale of property
and equipment
    
    
    97
    
    
    
    241
    
    
    
    444
    
    
    
    400Income from operations
    
    
    42,387
    
    
    
    34,870
    
    
    
    104,140
    
    
    
    84,920Loss on early extinguishment
of debt
    
    
    (325
    )
    
    
    (40,771
    )
    
    
    (325
    )
    
    
    (40,771
    )Interest expense
    
    
    (9,007
    )
    
    
    (9,060
    )
    
    
    (26,597
    )
    
    
    (29,342
    )Other income, net
    
    
    293
    
    
    
    245
    
    
    
    816
    
    
    
    675Income (loss) before
provision for
income taxes
    
    
    33,348
    
    
    
    (14,716
    )
    
    
    78,034
    
    
    
    15,482Provision (benefit) for
Income taxes
    
    
    13,154
    
    
    
    (3,185
    )
    
    
    30,480
    
    
    
    3,290Net income (loss)
    
    $
    20,194
    
    
    $
    (11,531
    )
    
    $
    47,554
    
    
    $
    12,192EARNINGS (LOSS)
PER SHAREBasic  Earnings (loss)
per share
    
    $
    0.53
    
    
    $
    (0.30
    )
    
    $
    1.25
    
    
    $
    0.33Basic  Weighted average
number of
common shares
outstanding
    
    
    38,095
    
    
    
    38,070
    
    
    
    38,090
    
    
    
    36,550Diluted  Earnings
(loss) per share
    
    $
    0.53
    
    
    $
    (0.30
    )
    
    $
    1.25
    
    
    $
    0.33Diluted  weighted
average
number of
common shares
outstanding
    
    
    38,095
    
    
    
    38,070
    
    
    
    38,090
    
    
    
    36,587




---



##### 



H&E EQUIPMENT SERVICES, INC.
SELECTED BALANCE SHEET DATA (unaudited)
(Amounts in thousands)
 September 30,
    
    
    December 31,2007
    
    
    2006Cash
    
    $
    1,916
    
    
    $
    9,303Rental equipment, net
    
    
    556,169
    
    
    
    440,454Total assets
    
    
    981,743
    
    
    
    759,942Total debt(1)
    
    
    335,926
    
    
    
    265,965Total liabilities
    
    
    698,055
    
    
    
    524,358Stockholders equity
    
    
    283,688
    
    
    
    235,584Total liabilities and stockholders equity
    
    $
    981,743
    
    
    $
    759,942
 
 (1)
    
    Total debt consists of the aggregate amounts outstanding on the senior secured
credit facility, senior unsecured notes, senior secured notes (at December 31, 2006), capital lease
obligations (at September 30, 2007) and notes payable obligations, net of original issue discount,
where applicable. H&E EQUIPMENT SERVICES, INC.
UNAUDITED RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
 (Amounts in thousands)
 Three Month Period Ended September 30,2007
    
    
    
    
    
    
    2007(As Reported)
    
    
    Adjusted
    
    
    (As Adjusted)Income from operations
    
    $
    42,387
    
    
    
    
    
    
    $
    42,387Loss on early extinguishment of debt (1)
    
    
    (325
    )
    
    
    325
    
    
    
    Interest expense
    
    
    (9,007
    )
    
    
    
    
    
    
    (9,007
    )Other income, net
    
    
    293
    
    
    
    
    
    
    
    293Income before provision for income taxes
    
    
    33,348
    
    
    
    325
    
    
    
    33,673Provision for income taxes
    
    
    13,154
    
    
    
    128
    
    
    
    13,282Net income
    
    $
    20,194
    
    
    $
    197
    
    
    $
    20,391EARNINGS PER SHAREBasic  Earnings per share
    
    $
    0.53
    
    
    $
    0.01
    
    
    $
    0.54Basic  Weighted average number of common
shares outstanding
    
    
    38,095
    
    
    
    38,095
    
    
    
    38,095Diluted  Earnings per share
    
    $
    0.53
    
    
    $
    0.01
    
    
    $
    0.54Diluted  Weighted average number of common
shares outstanding
    
    
    38,095
    
    
    
    38,095
    
    
    
    38,095




---



##### 



H&E EQUIPMENT SERVICES, INC.
UNAUDITED RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Amounts in thousands)
 Three Month Period Ended September 30,2006
    
    
    
    
    
    
    2006(As Reported)
    
    
    Adjusted
    
    
    (As Adjusted)Income from operations
    
    $
    34,870
    
    
    
    
    
    
    $
    34,870Loss on early extinguishment of debt (1)
    
    
    (40,771
    )
    
    
    40,771
    
    
    
    Interest expense
    
    
    (9,060
    )
    
    
    
    
    
    
    (9,060
    )Other income, net
    
    
    245
    
    
    
    
    
    
    
    245Income (loss) before provision for income taxes
    
    
    (14,716
    )
    
    
    40,771
    
    
    
    26,055Provision (benefit) for income taxes
    
    
    (3,185
    )
    
    
    8,807
    
    
    
    5,622Net income (loss)
    
    $
    (11,531
    )
    
    $
    31,964
    
    
    $
    20,433EARNINGS
(LOSS) PER SHAREBasic  Earnings (loss) per share
    
    $
    (0.30
    )
    
    $
    0.84
    
    
    $
    0.54Basic  Diluted average number of common
shares outstanding
    
    
    38,070
    
    
    
    38,070
    
    
    
    38,070Diluted  Earnings (loss) per share
    
    $
    (0.30
    )
    
    $
    0.84
    
    
    $
    0.54Diluted  Weighted average number of common
shares outstanding
    
    
    38,070
    
    
    
    38,070
    
    
    
    38,070
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2007
    
    
    2006
    
    
    2007
    
    
    2006Net income (loss)
    
    $
    20,194
    
    
    $
    (11,531
    )
    
    $
    47,554
    
    
    $
    12,192Interest expense
    
    
    9,007
    
    
    
    9,060
    
    
    
    26,597
    
    
    
    29,342Provision (benefit) for income taxes
    
    
    13,154
    
    
    
    (3,185
    )
    
    
    30,480
    
    
    
    3,290Depreciation
    
    
    26,632
    
    
    
    22,392
    
    
    
    74,242
    
    
    
    61,684Amortization
    
    
    258
    
    
    
    11
    
    
    
    270
    
    
    
    34EBITDA
    
    $
    69,245
    
    
    $
    16,747
    
    
    $
    179,143
    
    
    $
    106,542Loss on early extinguishment of debt (1)
    
    
    325
    
    
    
    40,771
    
    
    
    325
    
    
    
    40,771Management services agreement
termination fee (2)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8,000Adjusted EBITDA
    
    $
    69,570
    
    
    $
    57,518
    
    
    $
    179,468
    
    
    $
    155,313
 
 (1)
    
    Adjustment relates to a loss on early extinguishment of the Companys Senior
Secured Notes in July 2007 and Senior Secured and Senior Subordinated Notes in August 2006.(2)
    
    Adjustment relates to a non-recurring charge of $8.0 million for the termination of
a management services agreement in connection with the Companys initial public offering in
February 2006.