Hertz Global Reports Q4 Operating Results - Quick Facts

(RTTNews) - Hertz Global Holdings, Inc. (HTZ) reported that its fourth-quarter consolidated revenues decreased to $2.55 billion from $2.56 billion, a year ago. For full year 2014, revenue was $11.02 billion, compared to $10.77 billion, previous year.

The company said its total U.S. car rental revenue was $1.5 billion in the 2014 fourth quarter, in line with the 2013 fourth quarter. International car rental segment revenue was $515 million, down 5% in the fourth quarter, but up 2% when adjusting for negative currency effects, compared to the 2013 fourth quarter. Worldwide equipment rental segment revenue of $413 million increased 3% in the 2014 fourth quarter, or 5% excluding currency effects, compared with the prior year.

To drive improved profitability in the car rental business, Hertz is undertaking a comprehensive assessment of the company's revenue execution capabilities. The effort includes a full review of the decision support systems, data integrity, organizational talent and leadership, training programs and performance management.

Hertz also said the company has begun taking a more disciplined approach to fleet capacity by selectively pursuing more profitable demand through a variety of means, including reduced participation in opaque channels and higher minimum-rate thresholds. The company now expects to finalize the fleet transformation that was announced last November, about one month ahead of the original mid-year target.