Hertz Global Holdings Inc (HTZ)

[Enterprising Investor]

Hertz Global Holdings Reports Third Quarter 2015 Financial Results (11/09/15)

- Third-quarter net income was $237 million, or $0.52 diluted EPS, an increase of 59% and 63%, respectively, from $149 million, or $0.32 diluted EPS, year-over-year

- Adjusted net income was $226 million and adjusted diluted EPS was $0.49 for the third quarter; both rose 11% year-over-year. Excluding an unfavorable foreign exchange impact of approximately $0.03 per share, adjusted diluted EPS would have increased by approximately $0.08 year-over-year

- Third-quarter consolidated total revenue was $3.0 billion, a decrease of 5% year-over-year, but flat excluding negative foreign exchange impact

- Cost savings of approximately $75 million were achieved during the third quarter and more than $150 million over the first nine months of 2015. Company remains on track to complete its previously stated targets of $200 million in cost savings in 2015 and $300 million annually for 2016

- Hertz Global repurchased 14.8 million shares during the quarter for $262 million

- Hertz Global affirms full-year 2015 Adjusted Corporate EBITDA guidance between $1.45 billion to $1.55 billion. Hertz Global also affirms Worldwide Hertz Equipment Rental segment full-year 2015 Adjusted Corporate EBITDA guidance between $575 and $625 million

- Hertz Global will issue preliminary 2016 guidance at the company's Investor Day on Nov. 17, 2015

http://www.prnewswire.com/news-releases/hertz-global-holdings-reports-third-quarter-2015-financial-results-300174643.html