Hertz Reports Strong Second Quarter Operating Results
Adjusted net income was $97.4 million, an increase of 35.7% compared with the second quarter of 2006.
Hertz Global Holdings, Inc. reported record second quarter 2007 revenues of $2.18 billion, an increase of 6.6% over the same period in 2006.
Worldwide car rental revenues for the quarter were a record $1.74 billion, an increase of 7.5%, while revenues from worldwide equipment rental were a record $433.0 million, up 3.0% over the prior year period.
Adjusted net income was $97.4 million, an increase of 35.7% compared with the second quarter of 2006, resulting in adjusted earnings per share for the quarter of $0.30, compared with adjusted earnings per share of $0.22 in the prior year period.
Net corporate debt decreased by $169.0 million during the first six months of 2007, driven by a $627.1 million improvement in six-month cash flow over the first half of 2006.
The Company re-affirms its full year 2007 revenue and earnings guidance.
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