Hertz Global Stock News

The car rental company's stock made a surprising recovery after a disappointing earnings report.

Hertz Global Holdings, Inc. (NASDAQ:HTZ ) Q3 2024 Earnings Conference Call November 12, 2024 9:00 AM ET Company Participants Johann Rawlinson - VP, Investor Relations Wayne West - CEO & Director Sandeep Dube - EVP & Chief Commercial Officer Scott Haralson - EVP & CFO Conference Call Participants Chris Woronka - Deutsche Bank Ian Zaffino - Oppenheimer John Healy - Northcoast Research John Babcoc...

Hertz Global Holdings (HTZ) reported a wider-than-expected third-quarter loss Tuesday, dinged by a non-cash asset impairment charge of $1 billion.

Car rental company Hertz Global (NYSE:HTZ) has penned its biggest quarterly loss of the year after running up a billion-dollar non-cash impairment charge related to its fleet of Tesla Inc (NASDAQ:TSLA) electric vehicles. “The size of the impairment charge was largely due to the decline in fleet residual values over the last year or so,” said Hertz.

Hertz's stock slips, but bounces sharply off earlier lows, as $1 billion write-off of car values reflects acceleration of fleet rotation.

"In the third quarter, we continued executing on our efforts to implement our transformation, focusing on our back-to-basics strategy to deliver sustainable, long-term returns for shareholders," said Gil West, Hertz CEO. "Our team's commitment to both our customers and our strategic objectives were evident throughout the summer.

ESTERO, Fla. , Nov. 4, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ) (the "Company") announced today that it plans to report its third quarter 2024 financial results at 8:00 a.m.

ESTERO, Fla. , Oct. 21, 2024 /PRNewswire/ --  What: Today, Hertz (NASDAQ: HTZ) announced that it is helping citizens in communities across the nation get to the polls with its Free Day on Election Day promotion.