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Hertz Enjoys Revenue Growth in Equipment and Car Rental

Hertz Global Holdings worldwide total revenues for 2007, including automobiles and equipment, jumped from $8.06 billion in 2006 to $8.68 billion. For the fourth quarter, revenues climbed from $1.99 billion in Q406 to $2.14 billion.

Worldwide equipment rental revenues were a record $468.1 million for the fourth quarter of 2007, a 7.4-percent increase over the same period of 2006, while pricing decreased 0.6 percent, the company said. Strong year-over-year revenue growth in non-construction U.S. equipment rental markets, especially the industrial markets, and in international markets, was partially offset by a slight decline in the U.S. non-residential construction business.

Adjusted pre-tax income for the fourth quarter of 2007 was a record $102.3 million and 1.8 improvement compared with Q406. The average acquisition cost of rental equipment operated during the fourth quarter of 2007 increased by 11.2 percent year over year, compared with a 6.7-percent increase in the third quarter of 2007 over the prior year period.

Total worldwide equipment rental revenue was $1,755.9 million, compared with $1,672.6 million in 2006, a 5-percent increase.

Based in Park Ridge, N.J., Hertz Equipment Rental Corp. is No. 4 on the RER 100.

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