Rental Co. Boosts Fourth Quarter Revenue Featured

By Staff Writer February 26, 2019 412

Hertz Global Holdings, Inc. reported results for its fourth quarter and year ended December 31.


“We finished 2018 strong, delivering improvements in rental price, volume, utilization and fleet costs for the full year as a result of targeted strategies, disciplined execution and well-placed investments,” said Kathryn V. Marinello, President and chief executive officer of Hertz Global. “We have tremendous momentum as we move into 2019 and will focus on continued revenue growth as well as productivity to drive margin expansion, while also launching our technology transformation this year.”


For the fourth quarter 2018, total revenues were $2.3 billion, a 10 percent increase versus the fourth quarter 2017. Net loss attributable to Hertz Global was $101 million, or $1.20 loss per diluted share, compared with net income attributable to Hertz Global of $616 million during the fourth quarter 2017, or $7.42 per diluted share, which included a one-time benefit of $679 million, or $8.18 per diluted share, related to U.S. tax reform. The company reported Adjusted Net Loss for the fourth quarter 2018 of $46 million, or $0.55 Adjusted Diluted Loss Per Share, compared with $64 million, or $0.77 Adjusted Diluted Loss Per Share which excludes the one-time tax benefit, for the same period last year. Adjusted Corporate EBITDA for the fourth quarter 2018 was $49 million, compared to $21 million in the same period last year.


For the full-year 2018, total revenues were $9.5 billion, an 8 percent increase versus 2017. Net loss attributable to Hertz Global was $225 million, or $2.68 loss per diluted share compared with net income attributable to Hertz Global of $327 million, or $3.94 per diluted share, in 2017, which included a one-time benefit of $679 million, or $8.18 per diluted share, related to U.S. tax reform. The Company reported Adjusted Net Loss for 2018 of $14 million, or $0.17 Adjusted Diluted Loss Per Share compared with $132 million, or $1.59 Adjusted Diluted Loss Per Share for 2017. Adjusted Corporate EBITDA for 2018 was $433 million versus $267 million for 2017.

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Last modified on Wednesday, 27 February 2019 14:03