Enterprise Holdings — which owns and operates the Alamo Rent A Car, Enterprise Rent-A-Car and National Car Rental brands — provided highlights of its 2011 fiscal year, including its first-ever "Corporate Sustainability Report," on Oct. 26. For its fiscal year ending July 31, 2011, Enterprise Holdings posted a record $14.1 billion in worldwide revenues, up more than 12 percent from $12.6 billion in 2010, which likewise represented a 4 percent increase over fiscal 2009.
Enterprise Holdings is the only investment-grade company in the car rental industry. The company operates, through its regional subsidiaries, an extensive network of more than 6,000 neighborhood and airport branch offices located within 15 miles of 90 percent of the U.S. population.
"Because we operate more than twice as many locations as our nearest competitor in the United States, we are ideally positioned to efficiently move vehicles from city to city, as well as back and forth between airports and nearby local offices," said Enterprise Holdings Chairman and CEO Andrew C. Taylor, whose family owns and operates the rental company. "As a result, our ability to quickly respond to demand fluctuations is unique and directly mitigates the historical volatility of airport car rental."
Enterprise Holdings owns and operates more than 1.2 million cars and trucks, the largest fleet of rental and leased passenger vehicles in the world. "For the first time, our rental vehicles alone exceeded the one-million mark," stated Taylor. "That kind of economy of scale —combined with our unparalleled network of branch offices — enables us to offer a 'total transportation solution' in thousands of communities from coast to coast."
Enterprise Holdings' "total transportation solution" includes local and airport car rental, WeCar by Enterprise programs, Enterprise Rideshare vanpooling programs, and affiliated business lines Enterprise Fleet Management, Enterprise Car Sales and Enterprise Commercial Truck rental.
Enterprise Holdings does not disclose specifics on its net income, but the company achieved record growth in profitability for the second fiscal year in a row.
Other financial summaries:
• End-of-fiscal-year rental fleet up nearly 10 percent — representing the second year in a row of double-digit fleet growth.
• Sales of more than 65,000 used vehicles directly to consumers through the company's referral car sales division, now operating more than 135 sales locations across the country.
• More than $2 billion in corporate travel revenues.
Enterprise Holdings' revenues for fiscal 2011 would place it 16th among the largest private companies in the United States. The company's annual revenues also place it near the top of the travel industry, exceeding many airlines and most cruise lines, hotels, tour operators and online travel agencies. Furthermore, if Enterprise Holdings were publicly traded, it would rank at number 174 on Fortune's list of the 500 largest public companies in the U.S. In comparison, the next largest rental car company is ranked 315th on the Fortune list.
During fiscal 2011, Standard & Poor's (S&P) Ratings Services maintained its "BBB+" long-term ratings for Enterprise Holdings. In addition, Moody's Investors Service raised the long-term rating of Enterprise Holdings to "Baa1."