Business Context and Reporting Period
This Form 8-K was filed by Hertz Global Holdings, Inc. and The Hertz Corporation on July 17, 2015, reporting events occurring on July 16, 2015. The filing serves as a Regulation FD disclosure regarding the release of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014, and the Quarterly Report on Form 10-Q for the period ended March 31, 2015.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the referenced Form 10-K, Form 10-Q, and the attached financial information (Exhibit 99.2), which are incorporated by reference but not detailed in this specific 8-K document.
Material Changes and Restatements
- Restated Results: The filing announces the inclusion of restated results for the years 2012 and 2013, as well as selected unaudited restated financial information for 2011, within the 2014 Form 10-K.
- Non-GAAP Measures: Additional financial information includes certain non-GAAP financial measures detailed in Exhibit 99.2.
Guidance, Outlook, and Risks
Management hosted a conference call on July 17, 2015, to discuss the filings. The document includes a cautionary note regarding forward-looking statements, noting that actual results could differ materially due to various factors.
Identified Risks and Contingencies:
- Ability to remediate material weaknesses in internal control over financial reporting.
- Final results of the SEC's inquiry or other governmental investigations.
- Factors described under "Risk Factors" in the 2014 Form 10-K.
Investor Verification Checklist
- Review the restated financial results for 2011, 2012, and 2013 in the attached Form 10-K.
- Examine Exhibit 99.2 for specific non-GAAP financial measures and operating data.
- Assess the status of the SEC inquiry and the remediation of internal control weaknesses.
- Verify the details of the unaudited restated information for 2011.