Hertz Sets Records for Fourth-Quarter and Full-Year Financials

Hertz Global Holdings Inc. reported record corporate EBITDA and adjusted pre-tax income for full-year 2012. For its part, Hertz Equipment Rental Co. (HERC) more than doubled its pre-tax profits for 2012 to $152.6 million on revenues up 14.5% at $138.5 million.

HERC fourth-quarter revenues were $385.3 million, an increase of 21.2%, with profits up 13.9% to $51.4 million, reflecting increased volume and pricing and lower costs.

Mark P. Frissora, the company's chairman and CEO, said, "I'm pleased that Hertz once again delivered record fourth-quarter and full-year financial performance due to sustained operational excellence, improving pricing during the fourth quarter and the positive impact of strategic investments."

For Hertz's full financial report...