Hertz

Hertz Global Holdings, Inc. engages in the provision of car rental services. It operates through the following segments: U.S. Rental Car, International Rental Car, and All Other Operations. The U.S. Rental Car segment deals with rental of vehicles, as well as sales of ancillary products and services in the U.S. The International Rental Car segment offers rental and leasing of vehicles, as well as sales of ancillary products and services internationally. The All Other Operations segment refers to the vehicle leasing and fleet management services, and other business activities through its subsidiary DonLen. The company was founded in 1918 and is headquartered in Estero, FL.

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Earnings data Q4 2024

Hertz reports strong Q4 earnings, eyes growth in EV market

Hertz had a strong Q4 and record year, focusing on growth initiatives.
Performance in corporate and inbound travel was robust with positive trends.
Challenges include managing depreciation costs and price declines cautiously.
Opportunities lie in revitalizing brands, expanding EV fleet, and cost efficiency.

Hertz reports strong Q1 earnings, eyes EV expansion and market revitalization

Hertz delivered robust financial performance in Q1 2023, driven by revenue growth, EBITDA margin improvement, and strategic initiatives to optimize fleet operations.
While facing challenges with rising interest expenses and accounting changes, Hertz remains focused on capitalizing on opportunities in EV expansion and market revitalization.
Overall, Hertz's proactive approach to fleet management, pricing strategies, and market positioning reflects resilience and adaptability in a dynamic industry landscape.

Hertz reports robust Q2 earnings, eyes growth opportunities in 2024

Hertz's Q2 2023 performance reflects strong revenue growth, effective fleet management strategies, and progress on key initiatives. While facing challenges in residual risk management and market fluctuations, the company is optimistic about growth opportunities in 2024 and actively considering share repurchases. Transitioning to the Cloud and strengthening partnerships offer avenues for future growth.

Hertz achieves record revenue in Q3, focuses on brand strength and productivity

Hertz's Q3 performance reflects revenue growth, margin improvement, and operational efficiencies. The company is strategically focusing on brand strength, productivity gains, and expanding into growth sectors. Challenges with EV costs and pricing dynamics are being actively managed to drive future profitability.

Hertz plans cost-saving measures and fleet optimization for 2024

Hertz is confident in its path forward for 2024, focusing on reducing the EV fleet and implementing cost-cutting measures to improve financial position. The company aims to increase EBITDA in 2024, stabilize residual prices, and achieve significant cost savings. Despite challenges, Hertz sees opportunities in fleet optimization and cost reduction strategies.

Hertz faces financial challenges but focuses on operational efficiency

Hertz's Q1 2024 earnings call reflected financial challenges but also highlighted strategic initiatives to improve operational efficiency and profitability.
The company's focus on fleet optimization, revenue growth, and cost reduction indicates a proactive approach to address current difficulties.
Despite short-term challenges, Hertz's emphasis on customer experience, liquidity management, and cost reduction presents opportunities for long-term growth and stability.
The transition year under new leadership aims to position Hertz for success through fleet rotation, premium revenue growth, and operational excellence.

Hertz (HTZ) reports progress in transformation strategy and revenue growth

Hertz's Q2 2024 earnings call highlights progress in fleet optimization, cost management, and revenue growth strategies.
The company aims to strengthen its balance sheet, liquidity position, and achieve target metrics by 2025 for sustainable growth.
Challenges include executing fleet rotation plan, managing maintenance costs, and balancing cost reduction with revenue growth.
Opportunities lie in optimizing fleet mix, enhancing customer experience, and driving profitability through value-added services.

Hertz reports Q3 revenue of $2.6B, focuses on cost efficiencies

Hertz's Q3 performance was impacted by an asset impairment charge, with a focus on optimizing fleet rotation and reducing costs.
The company's strengths lie in operational excellence, customer experience, and commitment to cost efficiencies.
Challenges include market volatility, capital raising, and improving unit metrics, while opportunities exist in revenue enhancement and operational optimization.

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Hertz Global Holdings, Inc. engages in the vehicle rental business through the Hertz, Dollar, and Thrifty brands. It operates under the Americas Rental Car (RAC) and International Rental Car (RAC) segments. The Americas RAC segment focuses on operations in the United States, Canada, Latin America, and the Caribbean. The International RAC segment includes the provision of rental and sales of vehicles and value-added services in other locations. The company was founded in 1918 and is headquartered in Estero, FL.

Hertz Global Holdings (HTZ) shares cratered after the rental car giant said it will incur an additional $195 million cost from its unsuccessful effort to switch over to electric vehicles (EVs), leading to a huge first quarter loss.

Hertz Stock Plunges 19% as It Continues to Lose Money on Ill-Fated Tesla EV Plan

Hertz reported a much wider loss than expected in its first-quarter earnings report. The company increased the number of EVs it's selling.

Why Hertz Stock Plunged Today

Hertz Global Holdings, Inc. (NASDAQ:HTZ ) Q1 2024 Earnings Conference Call April 25, 2024 8:30 AM ET Company Participants Johann Rawlinson - VP, IR Gil West - Chair and CEO Alexandra Brooks - EVP and CFO Justin Keppy - EVP and COO Darren Arrington - EVP, Revenue Management and Fleet Acquisition Conference Call Participants Chris Woronka - Deutsche Bank Ian Zaffino - Oppenheimer John Babcock - Bank of America John Healy - Northcoast Research Lizzie Dove - Goldman Sachs Harold Antor - Jefferies Christopher Stathoulopoulos - Susquehanna Operator Welcome to the Hertz Global Holdings First Quarter 2024 Earnings Call. Currently, all lines are in a listen-only mode.

Hertz Global Holdings, Inc. (HTZ) Q1 2024 Earnings Call Transcript

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Avis Budget Group (NASDAQ: CAR) and Hertz (NYSE: HTZ) stock prices tumbled on Thursday as investors focused on the latter's financial results. Hertz crashed by over 17%, bringing the year-to-date losses to over 54%.

Here's why the Hertz and Avis Budget stocks are tumbling

Shares of Hertz Global slumped 24% and were on track for their sharpest one-day percentage fall on record on Thursday after the company reported a wider-than-expected quarterly loss, highlighting its struggles with the EV rental business.

Hertz Global eyes worst day on record as EV rental business falters

The headline numbers for Hertz Global (HTZ) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Hertz Global (HTZ) Q1 Earnings: A Look at Key Metrics

The rental car company's big push into EVs has proved to be a big problem.

Hertz's Losses on Tesla EVs Bite Into Earnings

Hertz Global Holdings, Inc. (HTZ) came out with a quarterly loss of $1.28 per share versus the Zacks Consensus Estimate of a loss of $0.45. This compares to earnings of $0.39 per share a year ago.

Hertz Global Holdings, Inc. (HTZ) Reports Q1 Loss, Tops Revenue Estimates

Shares of Hertz Global Holdings Inc. HTZ, +6.23% slumped 4.3% in premarket trading Thursday, after the rental-car company reported a much wider-than-expected loss, and increased the number of electric vehicles it plans to unload by 50%. The company swung to a net loss of $186 million, or 61 cents a share, from net income of $196 million, or 61 cents a share, in the same period a year ago.

Hertz boosts number of EVs it plans to sell by 50% and reports a much wider-than-expected loss

"Fleet and direct operating costs weighed on this quarter's performance," said Gil West, Hertz chief executive officer. "We're tackling both issues - getting to the right supply of vehicles at an acceptable capital cost while at the same time driving productivity up and operating costs down.

HERTZ REPORTS FIRST QUARTER 2024 RESULTS

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ESTERO, Fla. , April 8, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ)  (the "Company") announced today that it plans to report its first quarter 2024 financial results at approximately 7:30 a.m.

Hertz Global Holdings, Inc. to Announce First Quarter 2024 Financial Results on April 25th

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Hertz Global Holdings Inc. has “little room for vroom,” with profit growth curbed by rising expenses related to its rental-car fleet and the still-reverberating effects of its bankruptcy a few years ago.

Hertz's stock is ‘in the parking lot' for these analysts

Rental car operator Hertz (NASDAQ: HTZ ) suffered another ignominious incident, this time largely of its own doing. Former CEO Stephen Scherr decided to step down from the helm after the company's disastrous bet on Tesla (NASDAQ: TSLA ) and other electric vehicle (EV) companies.

HTZ Stock Alert: Hertz CEO Resigns After Tesla Blunder

Hertz (HTZ) appoints West as its CEO. West will commence work from Apr 1.

Hertz Global (HTZ) Appoints Its New CEO Amid Challenges

Scherr's resignation comes as the car rental company struggles with the higher repair costs and low demand for EV rentals.

Hertz CEO Stephen Scherr resigns after big bet on EVs goes bust

Famed investor Jim Cramer took a dovish tone on Hertz Global Holdings Inc (NASDAQ: HTZ) today after it named Gil West its new chief executive officer. Cramer on $HTZ: ‘it's a defeat' West has most recently served as the head of operations at Cuise – the robotaxi segment of General Motors.

Jim Cramer shares view on Hertz stock after new CEO

Hertz's CEO is stepping down following the company's major shift on the electric vehicle front. Stephen Scherr, who joined the rental car giant in 2022, has announced his resignation, Hertz said Friday (March 15).

Hertz CEO Departs Following EV Troubles

Car rental company Hertz Global (NASDAQ: HTZ) Chief Executive Stephen Scherr has been replaced as the firm seeks to boost its business after a disastrous bet on electric vehicles (EV) that involved brands such as Tesla (NASDAQ: TSLA).

Hertz to replace CEO after ‘disastrous' bet on Tesla and EVs

Rental car firm Hertz said on Friday it has appointed Gil West as its chief executive officer, effective April 1.

Hertz appoints Gil West as CEO

Hertz Global Holdings Inc.'s chief executive is leaving after just over two years, to be replaced by a Delta Airlines Inc. and General Motors Co. veteran.

Hertz swaps out its CEO as it looks to revitalize business after failed EV push

Chief Executive Stephen Scherr would step down on March 31 to be succeeded by Gil West, a former executive at Delta Airlines and General Motors' Cruise unit, effective April 1, the company said.

News for Hertz Stock (HTZ)