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Hertz Global Holdings, Inc. (NYSE:HTZ) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6%.
Hertz Global Holdings, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 37.5% to $0.33 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Rose 15.13% to $2.32 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hertz Global Holdings, Inc. reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.31. It beat the average revenue estimate of $2.24 billion.
Quoting Management: Mark P. Frissora, the Company’s Chairman and Chief Executive Officer, said, “I’m pleased that Hertz once again delivered record fourth quarter and full year financial performance due to sustained operational excellence, improving pricing during the fourth quarter and the positive impact of strategic investments, including the acquisition of Dollar Thrifty Automotive Group. We also continue to realize best-in-class efficiency improvements with over $480 million of incremental cost savings in 2012, bringing total savings to over $2.6 billion since 2007. Net cash flows from operations topped $2.7 billion last year, a $484.7 million year-over-year increase, and accelerating cash flow generation will be a critical financial objective going forward. Finally, 2012 marked our third consecutive year of significant double-digit percentage improvements in adjusted pre-tax income, EBITDA, and adjusted earnings per share, as well as margin expansion,” Frissora concluded.”
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