13.11.2014

Hertz unable to file third quarter

Hertz Global Holdings, owner of Hertz Equipment Rental, has declared that it was unable to file its quarterly report by Monday’s deadline nor within the permitted five day extension.

The company said the delay is due to: “The ongoing nature of the company’s previously announced thorough review of its internal financial records for fiscal years 2011, 2012 and 2013. As a result of the ongoing nature of this review and its potential impact on the company’s 2014 financial results”.

See: Hertz continues to struggle,
and: Hertz to restate results June 2014.

Hertz had a good start to 2014 but then in June warned of a possible black hole related to its Brazilian operations and a possible overstating of results. That investigation is ongoing. Meanwhile chief executive Mark Frissora resigned, and Carl Icahn attacked and got approval to appoint a number of directors, while the sale of the Equipment business appears to have stalled.

Watch this space...