Dollar Thrifty Reports Record 1Q Earnings

TULSA, Okla. --- Dollar Thrifty Automotive Group reported total revenue of $362.6 million for the first quarter ended March 31, 2006. Those results are a first-quarter record for the company, up 5.8% from the same period last year.

A record net income was also posted, raking in $16.9 million for the quarter. At this time last year, Dollar Thrifty reported total revenue of $342.8 million and net income $13 million.

Vehicle rental revenue was responsible for nearly 92% of the overall revenue at $332.7 million. That number is a 6.3% jump over the 2005 first quarter due, in part, to a 4.7% increase in rental days and a 1.6% spike in revenue per day. Same-store rental days were up 2.5% for the quarter.

In addition, the company said that the August 2005 passing of the transportation, banning vicarious liability, also aided revenue gains.

The company also acquired new franchises in cities in Oklahoma, Arkansas, Tennessee and Rhode Island.

During the first quarter, the company purchased 601,300 shares at a total cost of $25 million under its $300 million share repurchase program and has $275 million of remaining authorization to be completed by December 31, 2008.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Trump and Regulations: An Alt-Fuel View

With 2025 emissions targets back in review, manufacturers, alt-fuel, and alt-power suppliers weigh in on the potential impacts of Trump’s initiatives.

Why GM’s Telematics Announcement is a Really Big Deal

Enabling a telematics connection at the factory — and not through an aftermarket hardware installation — is a game changer for fleets.

Four Thoughts From the 2016 Conference Calls

Sifting through the notes of Avis Budget Group’s and Hertz Global Holdings’ recent fourth quarter conference calls give us some trend lines to watch out for in 2017. (Of course, this gives us an incomplete snapshot, as Enterprise Holdings is privately held.)

Job Finder: Access Top Talent. Fill Key Positions.

>