Hertz Clarifies 2012 Projected Revenue for Its Equipment Rental Business Unit

On January 10, 2012, Hertz Global Holdings, Inc. participated in the Deutsche Bank Global Auto Industry Conference, and presented a web cast overview of the business and investment considerations. The Company also provided certain 2012 revenue assumptions at the conference, which included 9% to 10% worldwide revenue growth for its equipment rental business.

Today, it clarified that the 9-10% growth will be driven by an estimated 14% increase in its U.S. operations. Additionally, on January 17, 2012, the Company announced the acquisition of Cinelease, the U.S. market leader in lighting and grip rentals for television production. At that time, Hertz estimated the acquisition would add an incremental 3% to global equipment rental revenue this year, which equates to at least 17% U.S. growth.

For more, visit FinRoad.