Hertz Global (HTZ) Posts Q2 EPS of $0.41, Provides Post-Spin Guidance

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August 8, 2016 5:11 PM EDT

Hertz Global (NYSE: HTZ) reported Q2 EPS of $0.41, which may not compare to the analyst estimate of $0.53. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.26 billion.

"Significant work was accomplished this quarter as part of our three-to-five year margin improvement plan," said John Tague, Hertz Global Holdings President and Chief Executive Officer. "While still in the first year of the plan, we completed a number of strategic actions, improved our balance sheet, and made progress on technology development, all while reducing our cost base and achieving substantial improvements in customer satisfaction. These accomplishments are the result of the dedication and commitment of our employees all across our operation.

"In the U.S., pricing improved significantly throughout the quarter, and we see positive pricing momentum continuing into the third quarter."

ull Year 2016 Forecast

Adjusted Corporate EBITDA(2)

$850M

to

$950M

Non-vehicle capital expenditures, net

$125M

to

$150M

Non-vehicle cash interest expense

$280M

to

$290M

Cash income taxes

$100M

to

$125M

Free cash flow(2)

$500M

to

$600M

U.S. RAC net depreciation per unit per month(2)

$290

to

$300

U.S. RAC fleet capacity growth

(2.0)%

to

(3.0)%

U.S.RAC revenue growth

—%

to

(1.5)%

Adjusted earnings per share**(2)

$2.75

to

$3.50

For earnings history and earnings-related data on Hertz Global (HTZ) click here.


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