Hertz Global Holdings (HTZ) Specifies 2012 Outlook for quipment Rental Business Unit
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Diluted (in shares): 28.3M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Diluted (in shares): 28.3M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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On January 10, 2012, Hertz Global Holdings, Inc. (NYSE: HTZ) participated in the Deutsche Bank Global Auto Industry Conference, and presented a web cast overview of the business and investment considerations. The Company also provided certain 2012 revenue assumptions at the conference, which included 9% to 10% worldwide revenue growth for its equipment rental business.
Today, it clarified that the 9-10% growth will be driven by an estimated 14% increase in its U.S. operations. Additionally, on January 17, 2012, the Company announced the acquisition of Cinelease, the U.S. market leader in lighting and grip rentals for television production. At that time, Hertz estimated the acquisition would add an incremental 3% to global equipment rental revenue this year, which equates to at least 17% U.S. growth.
The Company intends to provide 2012 full year guidance in late February, during its fourth quarter and year-end earnings conference call.
Today, it clarified that the 9-10% growth will be driven by an estimated 14% increase in its U.S. operations. Additionally, on January 17, 2012, the Company announced the acquisition of Cinelease, the U.S. market leader in lighting and grip rentals for television production. At that time, Hertz estimated the acquisition would add an incremental 3% to global equipment rental revenue this year, which equates to at least 17% U.S. growth.
The Company intends to provide 2012 full year guidance in late February, during its fourth quarter and year-end earnings conference call.
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