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Despite this reduction, Hertz Global Holdings Inc. confirms that its full-year 2016 adjusted earnings will be within a range of $1.6 to $1.7 billion.
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For the full-year 2015, Hertz Global Holdings Inc. has reported total revenue of $10.5 billion, a 5% year-over-year decline. But its adjusted earnings were up 12% from 2014 at $1.49 billion.
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Avis Budget reported increased revenue for both the fourth quarter 2015 and full-year 2015 and a net loss of $5 million in the fourth quarter. The company also addressed the impact of ride-hailing companies Uber and Lyft.
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Hertz Global Holdings Inc. will host a live webcast discussion of its 2015 fourth quarter and full-year financial results on Tuesday March 1.
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Total revenue in the U.S. car rental market is expected to reach $27.106 billion in 2015, though industry-wide revenue per unit, per month dipped slightly to $1,035.
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During third quarter 2015, Hertz Global Holdings reported a 2% decrease in its U.S. total revenue year-over-year due to flat transaction days and a 2% decline in total Revenue per Transaction Day (RPD).
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Hertz Global Holdings Inc. will host a live webcast discussion of its 2015 third quarter financial results on Monday Nov. 9.
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Avis Budget Group Inc. has reported revenue of $2.6 billion for its third quarter 2015, a 1% increase, on an increase on rental days partially offset by negative currency exchange rates.
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During fiscal year 2015, Enterprise Holdings grew total revenues by 8.8% to $19.4 billion and increased its fleet size to more than 1.7 million vehicles.
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Avis Budget Group Inc. plans to report its third quarter 2015 results after the market close on Monday Nov. 2.
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