Hertz Equipment Rental Corp.

Hertz Sets Record for Second Quarter, HERC Revenues Up 15%

Hertz Global Holdings Inc. reported record second quarter 2013 worldwide revenues of $2.7 billion, an increase of 22.0% year-over-year. Revenues from worldwide equipment rental for the second quarter were $384.3 million, up 14.7% year-over-year.

Document: Hertz Second-Quarter 2013 Results

Second quarter 2013 adjusted pre-tax income was $314.5 million, versus adjusted pre-tax income of $233.9 million in the same period in 2012, and pre-tax income, on a GAAP basis, was $211.9 million versus $158.7 million in the second quarter of 2012. Corporate EBITDA for the second quarter of 2013 was $540.4 million, an increase of 32.5% from the same period in 2012.

Mark P. Frissora, the company's chairman and CEO, said, “Our eighth consecutive quarter of record adjusted pre-tax income, which increased 34.5% year-over-year in the second quarter, was driven in part by double-digit revenue growth in four businesses: U.S. off-airport car rental, leisure car rental, HERC and Donlen. Hertz also achieved several other financial records this past quarter, the result of solid execution of balanced revenue, cost initiatives, and Dollar Thrifty synergies which are running ahead of plan,” he added.

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