Why Hertz Global Stock Is Down Today
Rental car giant Hertz Global Holdings (NASDAQ: HTZ) posted fourth-quarter results that fell short of estimates. Investors are looking for the exit ramp, sending Hertz shares down as much as 14% for the day and down 8% as of 2:15 p.m. ET.
Hertz, a holding company that owns not just the Hertz brand but Dollar and Thrifty as well, posted a fourth-quarter loss of $1.18 per share on revenue of $2.04 billion, missing Wall Street's consensus estimate of a $0.72-per-share loss on $2.13 billion in revenue.
Though the loss was a disappointment, Hertz said its long-term restructuring plan is on track. The company completed a planned 30,000 vehicle reduction in its electric vehicle fleet during 2024 and ended the year with $1.8 billion in liquidity.
Source Fool.com
