UPDATE 1-Hertz Global sees 2nd-qtr profit above Street
* Forecasts surprise 2009 profit
* Says no long-term impact from GM, Chrysler bankruptcies
June 25 (Reuters) - Car rental firm Hertz Global Holdings Inc (HTZ.N), which had suspended the practice of giving guidance, forecast quarterly profit above market estimates and said it sees no significant long-term financial impact from General Motors GMGMQ.PK and Chrysler bankruptcies. The company also forecast a surprise full-year profit.
"Our car rental demand in the U.S. and Europe has stabilized and we are experiencing better-than-anticipated summer peak reservation build in both markets," Chief Executive Mark Frissora said in a statement.
Hertz, which is adding fleet, sees second-quarter earnings of 9 cents to 10 cents a share on an adjusted basis, and worldwide revenue of $1.70 billion to $1.75 billion. Analysts on average were expecting earnings of 3 cents a share, before special items, on revenue of $1.90 billion, according to Reuters Estimates.
Hertz expects U.S. car rental transaction days to improve year-over-year in the second quarter.
Its average car rental fleets for the second quarter are, however, expected to be 14.6 percent lower year-over-year in the United States and 17.3 percent lower in Europe.
For 2009, Hertz sees adjusted earnings of 12 cents to 15 cents a share, while analysts were looking for a loss of 21 cents a share, before items.
Shares of the company closed at $7.01 Wednesday on the New York Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Himani Sarkar)
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