07.03.2016

Poor fourth quarter for Hertz

Hertz Equipment Rental has published its full year results for 2015, a slow fourth quarter helped depress its full year numbers.

Total revenues were $1.52 billion just over three percent lower than in 2014, due partly to exchange rates – and partly due to the sale of the Spanish and French operations. Pre-tax profits for the year dropped almost 30 percent to $120 million.

In the fourth quarter revenues were seven percent lower at $386 million, due to the previous mentioned issues, but pre-tax profits held up slipping from $60 to $59 million. Physical utilisation dropped two percentage points to 65 percent.

The Equipment Rental business is expected to float as a stand along operation by mid year. It then becomes Herc Rental See Hertz to become Herc Rentals