Second-quarter worldwide revenues for Hertz Equipment Rental Corp. totaled $335 million, an 11-percent increase compared to the second quarter of last year, driven by an 18.8-percent revenue hike in the United States and 15.2 percent in North America.
Total Hertz Global Holdings second-quarter revenue was $2.2 billion, an increase of 7.4 percent year over year.
Worldwide equipment rental revenues were 13.1 percent excluding the effects of foreign currency. Adjusted pre-tax income for worldwide equipment rental for the quarter was $42.5 million, compared with $33.4 million for the year-ago quarter, primarily attributable to the effects of increased volume and pricing and cost-management initiatives. Worldwide equipment rental achieved an adjusted pre-tax margin of 12.7 percent and a corporate EBITDA margin of 37.7 percent for the quarter.
Worldwide equipment rental revenue for the first six months of 2012 totaled $637.1 million, an 11.8-percent increase compared with $569.9 in the first six months of 2011.
“”North American volume was up 13.5 percent and U.S. volume was up 12.3 percent over the last year, driven by general industrial demand, infrastructure projects and growth in our Pump & Power businesses,” said Hertz chairman and CEO Mark Frissora. “In North America and the U.S., our equipment rental pricing was up approximately 4 percent and 6 percent, respectively, in the quarter.
“Of total North American Equipment Rental revenue, 56 percent came from national accounts in the second quarter. While this is a higher contribution, more stable business, the contracts limit our ability to raise prices opportunistically. In terms of noncontract accounts, however, we secured a 9.4-percent domestic price increase in the latest period.”
Based in Park Ridge, N.J., Hertz Equipment Rental Corp. is No. 4 on the RER 100.
