A Bloomberg columnist recalculated Uber and Lyft's effect on car rental in Certify’s SpendSmart report on ground transportation. When measuring overall dollars spent — not number of expensed trips — the data tells a different story.
For the second quarter 2018, total revenues were $2.4 billion, a 7% increase versus the second quarter 2017.
This webcast and conference call can be accessed through a link on the Investor Relations section of the Hertz website.
A conference call for institutional investors to discuss these results and its full year outlook will be held Aug. 8 at 8:30 a.m. EST.
This significant increase in Group revenues was supported by the recent acquisitions made by the Group in the last months of 2017.
In the first quarter of 2018, Hertz Global Holdings reported total revenues of $2.1 billion and decreased net loss by 9% based on an increase in transaction days, a decrease in per-unit depreciation expense, and an increase in pricing excluding ride-hailing rentals.
Revenue growth was driven by a 5% increase in total rental days and strong pricing.
Certify's quarterly SpendSmart report shows an increase in ride-hailing use among business travelers, although car rentals and taxis are still holding their ground in certain markets.
An analysis of the conference calls of Avis Budget Group and Hertz Global Holdings reveal trends and initiatives involving fleet right sizing, pricing, ancillary revenue opportunities, and renting to ride-hailing drivers.
For the third quarter 2017, Hertz Global Holdings Inc. has reported its total revenues as $2.6 billion, a 1% increase year-over-year. CEO Kathryn Marinello is encouraged by Hertz’s process but admits the company still has a lot of work ahead.