Hertz withdraws full-year forecast, cites accounting review, challenges

Tue Aug 19, 2014 7:00pm EDT

Aug 19 (Reuters) - Hertz Global Holdings Inc said it is withdrawing its full-year forecast and expects earnings to be well below its previous guidance due to challenges in the rental car and equipment businesses and costs related to its review of the past three years' financial results.

The company said in a regulatory filing that earnings would be affected by operational challenges, including recalls by car makers, higher-than-expected operating expenses and weak demand in the equipment rental businesses. (1.usa.gov/YwpVmG)

Hertz said in June that it would restate or correct financial results for the past three years to fix accounting errors originating in 2011. (Reporting by Ramkumar Iyer in Bangalore; Editing by Leslie Adler)