Hertz Global Holdings reported third-quarter 2011 worldwide revenues of $2.4 billion, an 11.3-percent year-over-year increase. Revenues from worldwide equipment rental for the third quarter were $321.7 million, a 14.4-percent year-over-year boost.
Adjusted pre-tax income for worldwide equipment rental was $55.9 million, compared with $33.7 million for the third quarter of 2010, a 65.9-percent hike. The company attributed the boost to increased volume and pricing as well as cost-management initiatives. Worldwide equipment rental achieved an adjusted pre-tax margin of 17.4 percent, and a corporate EBITDA margin of 42.1 percent for the quarter.
Equipment rental revenue jumped 13.9 percent for the first nine months of the year, from $784.1 million a year ago to $891.6 million for the first nine months of 2011.
Based in Park Ridge, N.J., Hertz Equipment Rental Corp., No. 4 on the RER 100, operates in the United States, Canada, China, Denmark, France, Greece, Norway, Portugal, Spain and Saudi Arabia.