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Hertz Global Holdings Inc HTZ
Q3 2010 Earnings Call Transcript

Transcript Call Date 11/03/2010

Operator: Welcome to the Hertz Global Holdings Third Quarter 2010 Earnings 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 information relayed on this call speaks only as of this date, and the Company undertakes no obligation to update that information to reflect changed circumstances.

Additional information concerning these statements is contained in the Company's press release regarding its third quarter results issued yesterday and in the risks factors and forward-looking statements section of the Company's 2009 Form 10-K and second quarter 2010 Form 10-Q. 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 November 17, 2010.

I would now like to turn the call over to your host, Leslie Hunziker. Please go ahead.

Leslie Hunziker - IR: Good morning, and welcome to Hertz Global Holdings 2010 Third Quarter Conference Call. You should all have our press release and associated financial information, which we issued last night. This morning, we've provided slides to accompany our conference call that can be accessed on our website at www.hertz.com/investorrelations.

Let me give you a quick update on our IR calendar. We'll be attending Northcoast Fall Management Forum on November 9, and Barclays Global Automotive Conference on November 16, both in New York. Hertz's annual financial modeling workshop and Investor Day is scheduled for December 6 and 7, in Midtown Manhattan, and more detailed information on that will be sent out next week.

In a minute, I'll turn the call over to Mark Frissora, Hertz's Chairman and CEO. Also speaking today is Elyse Douglas, our Chief Financial Officer. In addition, we have Scott Sider, Executive Vice President and President of Vehicle Rental and Leasing, the Americas; Michel Taride, Executive Vice President and President, Hertz International; and Gerry Plescia, Executive Vice President and President of Hertz equipment rental. They'll be on hand for the Q&A session.

Before we begin, I need to remind you that 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 demonstrating using these non-GAAP metrics.

Our call today focuses on Hertz Global Holdings, Inc., the publicly traded Company. Results for the Hertz Corporation differed only slightly as explained in our press release.

Now I'll turn the call over to Mark Frissora.

Read our Earnings Call Transcript disclaimer.
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