Hertz Stock Drops After a Wider-Than-Expected Loss and a Revenue Miss

Dow Jones08-01

Shares of Hertz Global Holdings Inc. took a 7.4% dive in premarket trading Thursday, after the rental car company reported a wider-than-expected loss, a revenue miss and vehicle depreciation that increased $706 million.

The company swung to a net loss of $865 million, or $2.82 a share, from net income of $139 million, or 44 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted per-share losses of $1.44 compared with the FactSet loss consensus of $1.25. Revenue fell 3.4% to $2.35 billion, below the FactSet consensus of $2.46 billion.

Hertz said the increase in vehicle depreciation was due primarily to an increase to a drop in future and current residual values.

The company said the acceleration of the refreshing of its fleet, which includes a significant expansion of its plan to sell off its electric vehicles, is expected to be substantially completed by the end of 2025.

The stock has plunged 60.7% year to date through Wednesday, while the S&P 500 has gained 15.8%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

3

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2456489977?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-01 20:21","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2456489977","market":"us","top_or_hot":-1,"title":"Hertz Stock Drops After a Wider-Than-Expected Loss and a Revenue Miss","media":"Dow Jones","content":"<html><head></head><body><p>Shares of Hertz Global Holdings Inc. took a 7.4% dive in premarket trading Thursday, after the rental car company reported a wider-than-expected loss, a revenue miss and vehicle depreciation that increased $706 million. </p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0c2059646eab0a23b34ccb151d1e21bb\" tg-width=\"873\" tg-height=\"631\"/></p><p>The company swung to a net loss of $865 million, or $2.82 a share, from net income of $139 million, or 44 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted per-share losses of $1.44 compared with the FactSet loss consensus of $1.25. Revenue fell 3.4% to $2.35 billion, below the FactSet consensus of $2.46 billion. </p><p>Hertz said the increase in vehicle depreciation was due primarily to an increase to a drop in future and current residual values. </p><p>The company said the acceleration of the refreshing of its fleet, which includes a significant expansion of its plan to sell off its electric vehicles, is expected to be substantially completed by the end of 2025. </p><p>The stock has plunged 60.7% year to date through Wednesday, while the S&amp;P 500 has gained 15.8%.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hertz Stock Drops After a Wider-Than-Expected Loss and a Revenue Miss</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHertz Stock Drops After a Wider-Than-Expected Loss and a Revenue Miss\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-01 20:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Hertz Global Holdings Inc. took a 7.4% dive in premarket trading Thursday, after the rental car company reported a wider-than-expected loss, a revenue miss and vehicle depreciation that ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HTZ","symbol_name":"赫兹租车","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2456489977","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2456489977","pubTimestamp":1722514882,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Hertz Global Holdings Inc. took a 7.4% dive in premarket trading Thursday, after the rental car company reported a wider-than-expected loss, a revenue miss and vehicle depreciation that increased $706 million. The company swung to a net loss of $865 million, or $2.82 a share, from net income of $139 million, or 44 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted per-share losses of $1.44 compared with the FactSet loss consensus of $1.25. Revenue fell 3.4% t","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"HTZ":"赫兹租车"},"translate_title":"赫兹股价因亏损超出预期且营收未达预期而下跌","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HTZ":0.9},"content_text":"Shares of Hertz Global Holdings Inc. took a 7.4% dive in premarket trading Thursday, after the rental car company reported a wider-than-expected loss, a revenue miss and vehicle depreciation that increased $706 million. The company swung to a net loss of $865 million, or $2.82 a share, from net income of $139 million, or 44 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted per-share losses of $1.44 compared with the FactSet loss consensus of $1.25. Revenue fell 3.4% to $2.35 billion, below the FactSet consensus of $2.46 billion. Hertz said the increase in vehicle depreciation was due primarily to an increase to a drop in future and current residual values. The company said the acceleration of the refreshing of its fleet, which includes a significant expansion of its plan to sell off its electric vehicles, is expected to be substantially completed by the end of 2025. The stock has plunged 60.7% year to date through Wednesday, while the S&P 500 has gained 15.8%.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":3,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2456489977"}