The Car and Truck Fleet and Leasing Management Magazine

PHH Corp.’s Fleet Management Services Segment Profit Up 16 Percent in 2012

February 14, 2013

PHH Corporation announced as part of its four quarter 2012 full-year earnings report that its Fleet Management Services segment profit grew 16% over 2011. This is the third year in a row that the company’s Fleet Management Services segment seen earned double-digit growth in profits.

The company said growth in maintenance, fuel, and accident management programs, along with a 3% increase in net investment in fleet leases and reduced debt costs, helped drive these results.

In the fourth quarter of 2012, the Fleet Management Services’ segment’s profit was $20 million, which is down $1 million from the third quarter of 2012 but up $1 million when compared with the fourth quarter of 2011. The segment’s fleet management fees dropped to $43 million in the fourth quarter, down from $45 million in Q4 2011. The company said that this resulted primarily from the loss of volume of certain service-only clients but that this drop was partially offset by the acquisition of new clients.

The full-year net income for PHH Corporation was $34 million.

Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

FleetFAQ

Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All

 

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All

 

Sponsored by

Chevrolet's all-electric vehicle.

Read more

Up Next

More From The World's Largest Fleet Publisher