Hertz to Rework Financial Reports

Rental car giant Hertz Global Holdings Inc. says it will correct its financial reports for 2011-2013 after finding accounting errors.

Hertz uncovered issues related to depreciation for non-fleet assets, problems with "doubtful" accounts in Brazil and other errors, according to an 8-K filing with the U.S. Securities and Exchange Commission.

The company also will delay reporting earnings for the first quarter of 2014 until it announces amended full-year results for 2013. Hertz says final quarterly results are likely to be below consensus in part because of the accounting review.