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.

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