Hertz Expects to Beat Full 2010 Year Guidance

Hertz announced updated full year 2010 guidance and expects to beat its high end guidance for adjusted pre-tax income, adjusted diluted earnings per share and Corporate EBITDA. Additionally, the company said its full year 2010 revenues are forecasted to be within its guidance range.

"For the full year 2010, including the fourth quarter, we achieved strong financial and operational performance from our car and equipment rental businesses. As a result, we expect full year 2010 consolidated adjusted pre-tax income and adjusted diluted earnings per share to significantly beat the high end of our earnings guidance," according to Mark P. Frissora, company chairman and CEO.

On October 20, 2010, Hertz announced it had reaffirmed its full year 2010 revenue and corporate EBITDA guidance in the range of $7.5 billion to $7.7 billion and $1.080 billion to $1.095 billion, respectively. The company also announced it had increased its full year 2010 worldwide forecast for adjusted pre-tax income in the range of $315 million to $325 million, and adjusted diluted earnings per share in the range of $0.47 - $0.48.

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