Why Hertz Stock Tumbled and Then Recovered Today [Yahoo! Finance]
Hertz Global Holdings, Inc (HTZ)
Last hertz global holdings, inc earnings: 2/24 04:05 pm
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Source: Yahoo! Finance
However, the stock then made a surprising recovery over the course of the session, and was up by 9.2% as of 3:20 p.m. ET. Here's why. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Investors clearly didn't like Hertz's report at first glance, and it's clear why. Revenue fell by 5% to $2.58 billion, missing estimates for $2.7 billion. The company also recorded a $1 billion impairment charge in the quarter due to a decline in its fleet residual values. That was the result of an overdone push into electric vehicles, whose resale values have plummeted, as well as its purchases of gas-powered vehicles a few years ago when their prices were soaring due to supply-chain-related shortages. EVs have been a thorn in Hertz's side for several quarters now as their repair costs have been higher than expected and demand for them from renters has been lower than expected. Adjusted earnings before interest, taxes, depreciation, and
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HTZ
News
- Hertz Announces Receipt of Requisite Consents from Holders to Amend its 12.625% First Lien Senior Secured Notes Due 2029 and 8.000% Exchangeable Senior Second-Lien PIK Notes due 2029 and Expiration of Consent SolicitationsPR Newswire
- Hertz Announces Pricing of $500 Million of Additional First Lien Senior Secured Notes OfferingPR Newswire
- Hertz Announces Consent Solicitations to Amend its 12.625% First Lien Senior Secured Notes Due 2029 and 8.000% Exchangeable Senior Second-Lien PIK Notes due 2029 [Yahoo! Finance]Yahoo! Finance
- Hertz Announces Offering of $500 Million of Additional First Lien Senior Secured Notes [Yahoo! Finance]Yahoo! Finance
- Hertz Announces Consent Solicitations to Amend its 12.625% First Lien Senior Secured Notes Due 2029 and 8.000% Exchangeable Senior Second-Lien PIK Notes due 2029PR Newswire
HTZ
Earnings
- 11/12/24 - Miss
HTZ
Analyst Actions
- 10/21/24 - JP Morgan
HTZ
Sec Filings
- 12/3/24 - Form 144
- 12/3/24 - Form 4
- 11/26/24 - Form 4
- HTZ's page on the SEC website