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NAPLES — Car-rental giant Hertz says it plans to announce first-quarter earnings on June 9, nearly a month after it missed the deadline to report its quarterly results.
The publicly traded company was originally scheduled to report first-quarter results on May 12, but it requested an extension and provided few details about the accounting problems it faced.
“Additional work is required to complete the closing procedures associated with the first quarter of 2014 primarily related to evaluating the company's conclusions regarding the capitalization and timing of depreciation for certain non-fleet assets, allowances for doubtful accounts in Brazil as well as other items,” the company says in a brief statement on May 19.
Hertz says the delay won't affect the financial guidance it provided to investors on March 18. The company says it forecast revenues for 2014 to be between $11.4 billion and $11.7 billion, with earnings per share in the range of 7 cents to 9 cents. Hertz shares traded on the New York Stock Exchange (symbol: HTZ; recent price: $28.80).
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