Hertz Global Stock Falls On Q2 Earnings: The Details
Portfolio Pulse from Adam Eckert
Hertz Global Holdings Inc (NASDAQ:HTZ) reported disappointing Q2 financial results, missing both revenue and earnings estimates. The company reported revenue of $2.4 billion and an adjusted earnings loss of $1.44 per share. Vehicle depreciation significantly impacted results, leading to a negative adjusted corporate EBITDA of $460 million. Hertz shares fell 4.4% following the announcement.
August 01, 2024 | 1:21 pm
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Hertz Global Holdings Inc (NASDAQ:HTZ) reported Q2 revenue of $2.4 billion, missing estimates. The company also reported an adjusted earnings loss of $1.44 per share, significantly worse than the expected loss of 90 cents per share. Vehicle depreciation led to a negative adjusted corporate EBITDA of $460 million. Shares fell 4.4% following the announcement.
Hertz's Q2 financial results were below expectations, with significant misses on both revenue and earnings. The substantial increase in vehicle depreciation led to a negative adjusted corporate EBITDA, which is a critical metric for investors. The immediate market reaction was a 4.4% drop in share price, indicating negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100