Hertz Global Slashes FY13 Targets - Quick Facts

(RTTNews) - Car and equipment rental provider Hertz Global Holdings, Inc. (HTZ) has revised down its full-year 2013 guidance, by currently expecting adjusted net income in the range of $780.0 million - $830.0 million, versus its prior $830.0 million - $875.0 million range. Also, adjusted earnings per share outlook range has been lowered to $1.68 - $1.78, from its earlier view of $1.78 - $1.88. On average, 9 analysts polled by Thomson Reuters expect earnings per share of $1.89 for the year. Analysts' estimates typically exclude one-time items.

For the full year 2013, revenues are now estimated to range between $10.8 billion and 10.9 billion, compared with the previous range of $10.85 billion - $10.95 billion. Eight analysts propject revenues of $10.91 billion for the quarter.

Mark Frissora, the company's Chairman and Chief Executive, said, "We are revising full year 2013 guidance primarily because of weaker than anticipated volume generated by the Hertz brand in the U.S. airport car rental market, our largest business."