Hertz reaches record-breaking revenue for car rentals in the third quarter
Skift Take
Hertz has reported revenue growth for the past seven quarters and suspects its substantial revenue growth will be boosted by its acquisition of Dollar Thrifty.
Hertz Global Holdings Inc., the rental car operator making a $2.3 billion buyout bid for Tulsa-based Dollar Thrifty Automotive Group Inc., reported third-quarter net income of $242.9 million on Wednesday, a 14.3 percent increase compared with 2011's third quarter.
[caption id="" align="alignright" width="350"] Hertz is in the process of acquiring Dollar Thrifty. Photo by Michael Gray.[/caption]
Hertz's earnings per share in the third quarter were 55 cents versus 47 cents in the same quarter last year.
Revenue in the quarter ending Sept. 30 was $2.516 billion, up 3.4 percent from $2.43 billion in the comparable period a year ago.
Worldwide car rental revenue in the third quarter increased 2.1 percent compared with 2011's third quarter, to $2.15 billion.
Third-quarter revenue from worldwide equipment rental was $363 million, a 12.8 percent year-over-year increase, dr
