Hertz Reports Strong Second Quarter Operating Results

Hertz Global Holdings, Inc. reported record second quarter 2007 revenues of $2.18 billion, an increase of 6.6% over the same period in 2006.

Worldwide car rental revenues for the quarter were a record $1.74 billion, an increase of 7.5%, while revenues from worldwide equipment rental were a record $433.0 million, up 3.0% over the prior year period.

Adjusted net income was $97.4 million, an increase of 35.7% compared with the second quarter of 2006, resulting in adjusted earnings per share for the quarter of $0.30, compared with adjusted earnings per share of $0.22 in the prior year period.

Net corporate debt decreased by $169.0 million during the first six months of 2007, driven by a $627.1 million improvement in six-month cash flow over the first half of 2006.

The Company re-affirms its full year 2007 revenue and earnings guidance.

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

Five Business Model Trends for 2017

As new forms of mobility take flight, the borders with traditional car rental are starting to erode.

Are Commercial Drone Deliveries Eminent in the U.S.?

Amazon just delivered its first package by drone in England. Will U.S. delivery fleets be able to take advantage soon?

Autonomous Vehicles and the Changing Role of the Fleet Manager

With fewer drivers and substantially longer fleet lifecycles, fleet managers will pivot to new job functions.

Job Finder: Access Top Talent. Fill Key Positions.