Hertz Equipment Rental Corp. posted a 14.5-percent revenue increase worldwide for the full year 2012, with $1.385 billion in revenue compared with $1.209 billion in 2011. Rental and rental-related revenue, worldwide, totaled $1.258 billion, a 14.9-percent year-over-year hike. While Hertz Global Holdings does not break down North American rental revenue from its total worldwide equipment rental totals, company officials have in the past indicated that North American equipment rentals makes up about 90 percent of its total.
For the fourth quarter, worldwide equipment rental revenues were $385.3 million, a 21.2-percent increase compared to the previous year’s fourth quarter. The company primarily attributed the jump to increased volume and pricing as well as cost-management initiatives. The average acquisition cost of rental equipment operated during the fourth quarter of 2012 increased by 13.7 percent year over year and net revenue earning equipment as of Dec. 31, 2012, was $2.198 billion, compared to $1.787 billion at the end of 2011.
Hertz Global Holdings chairman and CEO Mark Frissora said management expects the company to maintain its pace of strong growth throughout 2013.
Hertz Equipment Rental Corp. now has about 340 branches in the United States, Canada, China, France, Spain and Saudi Arabia. HERC is No. 4 on the RER 100.