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

Auto Manufacturers: Mobility Disruptors or Fleet Providers?

Maven’s Alex Keros shares insights into evolving smart mobility business models and new opportunities with fleet management.

What is Your Time Worth?

Personal observations of retail and travel transactions reveal just how much a consumer’s time is worth today, and how increasingly intolerant we are of inefficient transactions.

Safeguarding Your Business with Brokers

While the high-profile bankruptcy of Atlas Choice has left many car rental companies wary of working with brokers, rental companies can take steps to protect themselves and ensure a productive relationship.

Job Finder: Access Top Talent. Fill Key Positions.

>