HTZ - Hertz Global Holdings, Inc - Q2 2013 Earnings Call Transcript

    Company Name:Hertz Global Holdings, Inc
    Event Title:Q2 2013 Earnings Call Transcript
    Event Date:29-Jul-2013
    Event Time:09:30 AM ET



    Welcome to the Hertz Global Holdings Second Quarter 2013 Earnings Conference Call. The company has asked me to remind you that certain statements made on this call contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

    forward-looking statements are not guarantees of performance and by their nature are subject to inherent uncertainties. Actual results may differ materially. Any forward-looking statements informed related on this call speaks only as of this data and the company undertakes no obligations to update that information to reflect changed circumstances.

    Additional information concerning these statements is contained in the company's press release regarding its second quarter results issued this morning and in the risk factors of the forward-looking statement section of the company's 2012 Form 10-K and the 2013 Form 10-Q quarterly reports.

    Copies of these filings are available from the SEC, the Hertz website or the Company's Investor Relations Department. I would like to remind you that today's call is being recorded by the company and is also being made available for replay starting today at 12.30 PM Eastern Time and running through August 12, 2013. I would now like to turn the call over to our host Leslie Hunziker. Please go ahead.

    Leslie Hunziker

    Investor Relations
    Good morning. You should all have our press release and associated financial information. We've also provided slides to accompany our conference call that can be accessed on our website at on the Investor Relations page.

    Today we'll use certain non-GAAP financial measures all of which are reconciled with GAAP numbers in our press release and at the back of the slide presentation, both of which are posted on our website.

    We believe that our profitability and performance is better demonstrated using these non-GAAP metrics. Our call today focuses on The Hertz Global Holding Inc the publicly traded company. Results for The Hertz Corporation differ only slightly as explained in our press release.

    With regard to our IR calendar we will be presenting at the Citigroup industrial Conference on September 18th in Boston the MKM Leisure conference on September 26th in New York City and the Deutsche Bank leverage finance conference on October 1st in Scottsdale, Arizona.

    This morning in addition to Mark Frissora, Hertz's Chairman and CEO and Elyse Douglas our Chief Financial Officer, on the we have Scott Sider, Group President of Rent A Car The Americas; Michel Taride, Group President of Rent A Car International and Lois Boyd, Group President of Hertz's Equipment Rental Corporation. They will be on hand for the Q&A session.

    Now I will turn the call over to Mark.

    Mark P. Frissora

    Chairman of the Board and Chief Executive Officer
    Good morning everyone and thanks for joining us. Hertz once again delivered record quarterly results across the board.

    As you can see on slide five, consolidated adjusted pretax income and margin were the highest of any second quarter in our history increasing 35% and 110 basis points year-over-year respectively on a 22% revenue gain .

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