Worldwide equipment rental revenue for Hertz Equipment Rental Corp. for the first quarter was $302.1 million, a 12.6-percent increase compared with $268.2 million in last year’s first quarter. Adjusted pre-tax income for worldwide equipment rental for the quarter was $25.9 million, compared with $10.2 million a year ago, a 154-percent jump, primarily as a result of increased volume and pricing as well as cost-management initiatives.
The average acquisition cost of rental equipment operated during the first quarter of 2012 increased by 6.4 percent year over year.
“In addition to generating strong organic revenue and earnings growth, especially in the United States, HERC completed two acquisitions, Cinelease and Arpielle, last quarter which are already contributing profitable, incremental revenue growth to our equipment rental results,” said Hertz Global Holdings chairman and CEO Mark Frissora.
Hertz Equipment Rental Corp. has about 209 branches in North America and about 325 branches worldwide, including the United States, Canada, China, France, Spain and Saudi Arabia. Based in Park Ridge, N.J., HERC is No. 4 on the RER 100.
