Hertz Reports Mixed Q2 Results; Guidance In-Line

Hertz Global Holdings

released its fiscal second-quarter earnings results after the closing bell on Monday. The company reported net income of $92.9 million or $0.21 per share, versus $55 million or $0.12 per share, in last year's corresponding quarter. On an adjusted basis, net income was $154.4 million or $0.35 per share, compared to $116.6 million or $0.26 per share, in last year's second-quarter. This came in ahead of Wall Street analysts' consensus EPS estimates of $0.32. Revenues in the quarter were up 7.4 percent to $2.23 billion from $2.07 billion last year. This missed consensus revenue estimates of $2.24 billion. Looking ahead to full-year 2012, Hertz sees adjusted EPS of $1.28 to $1.38 on revenues of $8.9 billion to $9.0 billion. Currently, analysts' have consensus EPS estimates of $1.33 on revenue of $8.95 billion for full-year 2012. In Monday's after-hours trading session, HTZ rose slightly more than 3%.