Hertz Global Holdings eyes increased cash flow in 2013, says CFO

By Lisa Kerner

Charlotte, N.C., March 27 - Hertz Global Holdings, Inc.'s senior executive vice president and chief financial officer Elyse Douglas said while the company has invested in a lot of its strategies over the past several years, "those investments will decelerate, and we are going to see an uptick in cash flow going forward."

"So for 2013, we forecasted that our that corporate cash flow, which is available for debt paydown, investments or return to shareholders (is) between $500 and $600 million, which is up from about $225 (million) in 2012," said Douglas during a presentation at the Bank of America Merrill Lynch 2013 New York Auto Summit on Wednesday.

According to Douglas, cash flow from operations has grown by over $1 billion since 2009.

Key drivers for profitability include Lean Six Sigma improvements and more purchasing power from Thrifty and Donlen.

Hertz is a Park Ridge, N.J.-based auto and equipment rental company.

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