Hertz Withdraws 2014 Forecast, Delays HERC Spinoff

Hertz Global Holdings Inc. withdrew its full-year guidance, saying it now expects results to be “well below” the low end of its previously issued forecast.

The Florida-based car- and equipment-rental company cites operational challenges and costs associated with a continuing audit of its results dating to 2011.

Hertz also said the audit could push the spinoff of HERC, its construction-equipment-rental business, past the move planned for first quarter of 2015.

(more on Hertz withdrawal of 2014 guidance . . . )

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