Boston, MA 05/22/2014 (wallstreetpr) – The $13 billion market capped global car rental and related services provider Hertz Global Holdings, Inc. (NYSE:HTZ) seems to be having a busy year in 2014. From the expansion into new global markets to introduction of cutting-edge technologies in its car rental systems to plans to relocate headquarters, the company is all over the map.
The good news is that what the company is doing is geared towards supporting growth, efficiency and creation of value for the shareholders.
The company delayed the release of its 1Q2014 financial results, just as it did with the 4Q2013 results. However, it has provided an update that it expects to release the 1Q results on or before June 9 after which it intends to make its regulatory filing concerning the same by June 13.
Investor confidence
Just like any other global operator in a world where integrity makes the difference in business, Hertz Global Holdings, Inc. (NYSE:HTZ) said its delay of 1Q performance data is for all the good reasons. HTZ said that it is taking time to evaluate the results. In other words, the company believes that the delay is compensated for in the due diligence that it is carrying out in relation to the 1Q results.
Hertz Global Holdings, Inc. (NYSE:HTZ) delayed its 4Q2013 results because of implementation of certain new enterprise planning within its ranks. The delay resulted in the revision of past financial statements.
The company unveiled its 4Q2013 financial data on March 18, where it posted EPS of $0.26, below the consensus estimate of $0.32. Its revenue in the quarter was $2.56 billion, compared with the consensus estimate of $2.62 billion. Revenue was up more than 10 percent on a year-over-year basis.
Brand new headquarters
Hertz Global Holdings, Inc. (NYSE:HTZ) intends to move into its $70 million headquarters campus in Estero in late 2015. The company is working on a 300,000-square-foot building that will house its global headquarters. It received $19 million from Lee County, Florida Power & Light and the state in economic stimulus to relocate to Estero from Park Ridge, J.J.
