DTG Reports Q1 Earnings

Dollar Thrifty Automotive Group announced April 21 that based on preliminary results, it expects total vehicle rental revenues for the first quarter of 2009 to increase approximately 2-3 percent compared to the fourth quarter of 2008, as rental revenues for the first quarter were favorably impacted by an approximate 10 percent increase in rate per day, more than offsetting an approximate 7 percent decline in transaction days. Additionally, rental revenues for the first quarter of 2009 are projected to be down approximately 8-9 percent compared to the first quarter of 2008, as an approximate 4 percent improvement in pricing on a year-over-year basis did not fully offset an approximate 12 percent decline in transaction days. The company noted that the Easter holiday fell in the second quarter this year versus the first quarter in 2008, and February 2009 had one less day than February 2008.

"Although market conditions and fleet cost remain challenging, our revenue management initiatives combined with what appear to be improved industry-wide supply and demand factors resulted in double-digit improvements in rate per day compared to the depressed pricing levels of the fourth quarter 2008," said Scott L. Thompson, president and CEO.

The above data relating to the first quarter results are preliminary estimates based on information available at this time. The company will release its first quarter results on May 6, 2009.

Comment On This Story

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 Rental Summit: Five Trend Lines

Taking in the seminars, discussions, and networking at the 2016 Auto Rental Summit, trend lines emerged around shifts in model mix, data protection issues, increasing labor costs, workforce engagement, and new platforms to rent cars.

Why Do We Visit Capitol Hill?

Members of the American Car Rental Association met with U.S. senators, representatives, and their aides last week. Here’s why bringing the message to this forum matters.

The Customer Isn’t Always Right

Not caving to a customer with a blatant agenda may have consequences, especially for a small rental company that relies on stellar Yelp ratings to advertise. But business integrity must prevail.

Job Finder: Access Top Talent. Fill Key Positions.