Hertz Global Holdings Inc HTZ
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/25/2013

Operator: Hello and welcome to the Hertz Global Holdings' Fourth Quarter and 2012 Earnings Conference Call.

The Company has asked me to remind you that certain statements made on this call contained 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 that 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 fourth quarter results issued this morning and in the Risk Factors and Forward-Looking Statements section of the Company's 2011 Forms 10-K and 2012 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 available for replay starting at 12.30 pm Eastern Time and running through March 11, 2013.

I'd now like to turn the conference over to your host, Leslie Hunziker. Please go ahead.

Leslie Hunziker - IR: 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, those 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 Hertz Global Holdings Incorporated, the publicly-traded company. Results for the Hertz Corporation differed only slightly as explained in our press release.

With regard to our IR calendar, we'll be presenting at the JPMorgan Leverage Finance Conference in Miami tomorrow, the JPMorgan Gaming and Lodging Conference in Las Vegas on March 8 and the CSFB Global Services Conference in Phoenix on March 11, and then on April 2, we'll be hosting our 2013 Investor Day and Financial Modeling Workshop in New York City. The agenda and registration information will be sent out later this week.

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

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

Mark P. Frissora - Chairman and CEO: Good morning, everyone and thanks for joining us. 2012 was a remarkable year for Hertz on many fronts. Through organic initiatives and acquisitions, all of the strategic pieces of our portfolio are now in place.

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