Enterprise Holdings Announces Revenue Growth Across Business Lines
ST. LOUIS, Oct. 30, 2014 /PRNewswire/ -- Enterprise Holdings reinforced its leadership of the global car rental industry during fiscal year 2014 with significant revenue growth and strong customer service results. The company and its affiliate Enterprise Fleet Management generated $17.8 billion in revenue during fiscal year 2014, which ended July 31.
Enterprise Holdings, through its regional subsidiaries, owns and operates the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands. It ranks as one of the largest private companies in the U.S. and if it were a public company, Enterprise Holdings would place at number 159 on the Fortune 500 list.
"We continued to grow across all business lines, which included capturing the number one spot in market share at U.S. airport locations," said Pamela M. Nicholson, Enterprise Holdings president and chief executive officer. "And in the highly competitive U.S. home-city market, we saw our insurance-replacement transactions increase by four percent. This kind of growth is a tribute to our exceptional employees and reflects our disciplined management strategy."
Enterprise Holdings always manages its fleet with a long-term view, all based on a strategic approach to vehicle acquisition, depreciation and remarketing. "We can maintain fleet flexibility, regardless of market conditions," said Nicholson. "This, in turn, helped deliver one of the best years in our company's history. We now operate our largest U.S. fleet ever – more vehicles than all other U.S. car rental companies combined."
Fiscal year 2014 results further strengthened Enterprise Holdings' position as the world's largest car rental company as measured by revenue, fleet and employees:
- Global Fleet: Enterprise Holdings and its affiliate Enterprise Fleet Management together own more than 1.5 million vehicles, the largest fleet of vehicles in the world.
- Customer Service: The National, Enterprise and Alamo brands swept the top three J.D. Power and Associates spots for car rental satisfaction for the second straight year and were the only brands to finish above the industry average.
- Employees: Enterprise Holdings and its Enterprise Fleet Management affiliate have more than 83,000 employees worldwide.
- Global Network: Approximately 8,600 Enterprise, National and Alamo locations operate in nearly 70 countries and territories.
- Business Travel: Corporate accounts generated almost $3 billion.
- Commercial Trucks: Enterprise Commercial Trucks grew more than 30 percent across Canada and the U.S., including new operations in New York and Minnesota.
- Car Sharing: Available on nearly 100 North American university campuses and through 40 government and business accounts, Enterprise CarShare now operates in more than 35 U.S. states, Canada and the U.K. Enterprise's car sharing business also grew with the acquisition of AutoShare in Toronto and Occasional Car in Denver.
- Vanpooling: Enterprise Rideshare is now in 35 key markets in the U.S. and had record numbers across all key measures.
During the last fiscal year, Enterprise Holdings continued to move forward with its international expansion, virtually completing its network in Latin America, the Caribbean and Europe. Going forward, the company is focused on expansion efforts in the Middle East, Africa and Asia-Pacific. In fact, Enterprise Holdings ranks near the top of the global car rental industry as well as the global travel industry, ahead of many airlines and most cruise lines, hotels, tour operators and online travel agencies.
Enterprise Holdings has the lowest leverage ratio and is the only investment-grade company in the U.S. car rental industry. Enterprise Holdings and Enterprise Fleet Management are owned by the Taylor family of St. Louis and, as privately held businesses, do not disclose net income.
The company's philanthropic arm, the Enterprise Holdings Foundation, provided $19.4 million in grant funding to charitable causes in fiscal year 2014, with 90 percent of funds fulfilling employee requests to support community organizations that they actively support. One particularly significant grant was a $250,000 donation to the Fisher House Foundation, a non-profit organization that provides free or no-cost lodging to the families of veterans receiving treatment at military medical centers. The grant exemplifies Enterprise Holdings' commitment to the military: the company is named after the USS Enterprise, one of the aircraft carriers on which founder Jack Taylor served in World War II. Enterprise Holdings' support of the military currently focuses on recruitment and hiring, local operations and community relations.
Sustainable Business
Today, Enterprise Holdings also released its 2014 Sustainability Report, highlighting the company's progress in reducing its environmental footprint and promoting the adoption of alternative fuels and emerging automotive technologies.
Notably, the company has reduced its electricity usage by 16.5 percent and its natural gas consumption by 7.6 percent, compared to its 2010 baseline. This was achieved, in part, as a result of a new smart-building system roll-out at about 500 neighborhood branches throughout North America. In addition, through the Enterprise Sustainable Construction Protocol, the company invested nearly $5.7 million in sustainable upgrades and construction projects at our airport branches.
Enterprise Holdings' past investments in advancing the alternative fuels and clean technologies of tomorrow are also yielding strong results. The Enterprise Rent-A-Car Institute for Renewable Fuels at the Donald Danforth Plant Science Center developed a technology for oilseed crops that produces high-energy cyclic hydrocarbons, a component of jet fuel. At the same time, Enterprise Holdings' $2 million endowment for sustainable energy research is enabling the University of Missouri to conduct research into the biofuel potential of land along the Mississippi and Missouri Rivers – areas ideal for growing biomass that can be used in biofuel production.
This press release and car rental industry news are available in the Enterprise Holdings Press Room.
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SOURCE Enterprise Holdings
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