News Column

Hertz to review 3 years of financial results

June 6, 2014



NEW YORK (AP) Hertz Global Holdings Inc. says it has to review its financial reports from the past three years after an audit by the car rental company found accounting errors.

The Park Ridge, New Jersey, company says it will restate financial statements from 2011 and review statements from 2012 and 2013 and correct them if needed.

Hertz says it will again delay the release of its first-quarter earnings report. In May, it pushed the release date to June 9. Now, the company expects to release it when it amends its full-year results.

The company says its first-quarter results will be hurt by costs associated with the accounting review.

Hertz shares are down nearly 10 percent in trading before the market open Friday.


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Source: Associated Press


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