Hertz Equipment Rental Corp. posted total revenue of $375 million in the second quarter, compared to $384 million in the second quarter of 2014, a 2 percent drop. EBITDA slid 11 percent from $166 million a year ago to $147 million this year. Excluding the impact of foreign currency, revenue increased $3 million or 1 percent.
“Excluding negative foreign currency impact and the impact of lower sales in upstream in oil-and-gas markets, HERC revenues were up 6 percent in the second quarter,” said John Tague, Hertz Global Holdings CEO.
As previously communicated, Hertz Global said it remains committed to the separation of its equipment rental business.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.