Total revenue at Hertz Global Holdings during the fourth quarter of 2014 remained about flat year over year at $2.55 billion, the company reported on Wednesday.
Revenue per transaction day for U.S. car rentals declined 2 percent year over year to $43.88 as total transaction days increased 2 percent, due to a higher mix of off-airport business, according to Hertz. RPD for Hertz's international car rental segment declined 1 percent to $51.43 as the company pushed to expand volume in its lower-cost Thrifty and Firefly brands, and transaction days increased 2 percent.
For full-year 2014, consolidated revenue increased 2 percent year over year to $11.02 billion. U.S. car rental transaction days increased 5 percent and total U.S. RPD declined 2 percent. Outside of the United States, transaction days were up 4 percent year over year, and total RPD declined 1 percent.
Hertz president and CEO John Tague in a statement said the company was "aggressively addressing areas of inefficiency and waste" and has doubled its cost-savings target to $200 million by the end of this year. Hertz also has been altering its approach to fleet capacity, providing less content to opaque booking channels and setting higher minimum-rate thresholds, according to the company.
Hertz's results were presented as an update, as the company has not filed an official full financial report since March 2014 and is in the process of reviewing financial statements from the past three years, a process it expects to complete later this year.