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News > Companies
Hertz earnings up 38%
April 14, 1999: 7:10 a.m. ET

Car rental firm beats Street in 1Q; Revenue hits record $1.033B
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NEW YORK (CNNfn) - The Hertz Corporation said Wednesday its first-quarter earnings rose 38 percent to $48.8 million, or 45 cents a share, from $35.4 million, or 33 cents a share, a year earlier.
     The results for the world's biggest car rental company beat the 39 cents a share expected by analysts surveyed by First Call Corp.
     Revenue at Park Ridge, N.J. based Hertz (HRZ) rose to a record, climbing 15 percent to $1.003 billion from $898.8 million in the year-ago period, the company said.
     "This beginning of 1999 comforts our belief we will produce our eighth consecutive year of increased earnings," Hertz Chief Executive Officer Frank A. Olson said in a statement.
     Hertz shares on Tuesday gained 3 /4 to 58-11/16. Back to top

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