Hertz Global Holdings reported a first-quarter profit, as revenue rose faster than costs largely on last year’s acquisition of Dollar Thrifty Automotive Group.
Hertz’s net income was $18 million, compared with a year-earlier loss of $56.3 million.
Revenue jumped 24% to $2.44 billion during the first full quarter Hertz has owned Dollar Thrifty. Hertz acquired the company last November for $2.6 billion.
As a result, U.S. transaction days surged 32% from a year earlier, while rental rate per transaction day rose 4.8%.
Hertz didn’t break out what percentage of its revenue increase stemmed from Dollar Thrifty, though Hertz CEO Mark Frissora said in a statement Tuesday that Dollar Thrifty performed “better than anticipated.”
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