Dollar Thrifty Q4 Loss Expands

Dollar Thrifty Automotive Group Inc. posted a wider fourth quarter loss, hurt by lower consumer demand as well as a softer used car market, the company reports.

The auto rental company said lower demand led to unfavorable pricing and a decline in the use of its vehicles.

Dollar Thrifty reported a net loss of $30.6 million or $1.45 a share, compared with $2.7 million or 11 cents a share a year ago. Excluding items it posted a loss of 88 cents a share.

Revenue fell marginally to $389.2 million.

Tulsa, Oklahoma-based Dollar Thrifty said it expects to report a first-quarter loss, excluding items, due to higher fleet cost increases early in the year. Analysts expect earnings of 1 cent a share for the first quarter.

For 2008, the company forecast a profit $1.00 to $1.50 a share and said it will increase revenue growth during the year through expanding international sales, small business corporate accounts and the number of non-airport locations.

Dollar Thrifty also expects vehicle cost increases to be more challenging in the early part of 2008 as it absorbs recent declines in used car prices.

Analysts expect earnings of $1.12 a share for 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

The Problem with Valuing Safety Technology

As advanced safety technologies have migrated to mainstream vehicles, retaining value for these options at resale remains an issue.

ELD Mandate: Is Your Head Still in the Sand?

If you think you have 11 weeks to implement an Electronic Logging Device system to meet the Dec. 18 compliance deadline, you really don’t — for a few reasons.

Who Controls Your Vehicles’ Data?

In the name of security, an automaker’s alliance is advocating denial of third-party access to the OBD-II port. Is this going too far?

Job Finder: Access Top Talent. Fill Key Positions.

>