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