Why Is Car Rental Firm Hertz Global Stock Falling Tuesday?
Portfolio Pulse from Anusuya Lahiri
Hertz Global Holdings Inc (NASDAQ:HTZ) stock fell after reporting mixed Q4 2023 results with a 7% revenue growth to $2.18 billion, surpassing expectations. However, it posted an adjusted EPS loss of $(1.36), missing the consensus loss of $(0.76). The company saw increased volume across various customer channels but faced challenges with its electric vehicle fleet and other costs. Despite these issues, CEO Stephen Scherr expressed confidence in the company's future performance improvements.
February 06, 2024 | 2:24 pm
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Hertz Global Holdings Inc reported mixed Q4 2023 results with higher revenue but a larger-than-expected EPS loss, leading to a 7.31% premarket stock price drop.
The stock price fell due to the mixed earnings report, with revenue growth being overshadowed by a larger-than-expected EPS loss. The company's challenges with its electric vehicle fleet and other costs also contributed to negative investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100