Hertz Reports Record Third Quarter Operating Results

Hertz Global Holdings, Inc., recently reported record third quarter 2007 revenues of $2.45 billion, an increase of 9.3 percent over the same period in 2006, led by an 11 percent increase in worldwide car rental revenues for the quarter to a record $1.98 billion.

Hertz reports a 4.8 percent increase of revenue on-airport and off-airport car rental revenue increased 13.6 percent in the third quarter, with 15.8 percent transaction day growth.

The company ended the third quarter of 2007 with net corporate debt of $4.57 billion, compared with $4.93 billion as of September 30, 2006, an improvement of $354.1 million.

The improvement in car rental revenues was driven by a 5.5 percent increase in transaction days and a 2.7 percent increase in rental rate revenue per transaction day in the U.S. Revenues from worldwide equipment rental were a record $464.9 million, up 2.6 percent over the prior year period.

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.