Hertz Quarterly Report

Leading rental car company Hertz Rental car has recently released their Third Quarter Financial Report. While this report seems to be discouraging to the company, the vice president is still holding his head up high.

The 2009 international revenue barely exceeded $2 billion. This is a 15.7 percent year-over-year decrease from 2008. This adds to a 13.4 percent loss in constant currency (cc). Rental car numbers were down 11.9 percent (8.9 percent cc). This made travel news everywhere. The company plans on increasing the percent lost by the end of January 2010. With multiple programs and plans that Hertz expects to jump state total sales.

Net income ended up being a lift in spirit for Hertz. Their $124 million profit was a wopping 17.5% increase from the 2008 third quarter sales. While their stocks went down 2 cents, this increase more than made up for that.

Chairman Mark Frissora say "Hertz's Employees did a great job delivering strong Q3 results in this challenging Economy... Since may, the programs they started have raised profits by up to 6 percent. The [Strategic Fleet Plan] has raised $535 Million since it started at the end of 2008.... We hope that we are able to implement more programs like this coming into the 2010 year."

Its looking promising already for the Hertz company coming into Q4 and the new year. While numbers aren't released yet, an increase has certainly taken place. Hertz is excited to see this increase and wants to continue through december and "Finish Strong" as senior analyst and Chief Financial Officer Elyse Douglas says.