October 24, 2017 / 5:04 AM / a year ago

Enterprise Holdings posts 6.5 pct rise in FY2017 revenue

DETROIT, Oct 24 (Reuters) - Enterprise Holdings Inc , owner of the largest U.S. rental car fleet, on Tuesday reported that its revenue for its fiscal 2017 year ending July 31 rose 6.5 percent to $22.3 billion.

The private, family-held company, which owns the Enterprise brand and bought the Alamo and National brands in 2007, does not report net income.

The St. Louis-based firm, with an estimated U.S. fleet of 1.3 million cars, dwarfs its nearest rivals Avis Budget Group Inc and Hertz Global Holdings Inc, which reported 2016 annual revenue of $8.7 billion and $8.2 billion respectively.

During its fiscal 2017 year Enterprise said it had expanded Enterprise Rideshare, a vanpooling program, throughout the United States and also expanded its truck rental and car sales businesses.

Doubts about over-capacity and industry pricing have weighed on the shares of Avis Budget and Hertz, as have concerns that off-lease cars are flooding the used-car market. The rise of car-sharing companies have also made some investors wary. (Reporting by Nick Carey; Editing by Sandra Maler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below