Avis Budget Shares Fall as Hertz Cuts 2Q Outlook

Dow Jones06-25

Avis Budget Group shares slipped after rival Hertz said its second-quarter results would come in at the low end of guidance amid a weaker used-car market.

Shares were recently down 5% at $180.65 midday Wednesday. The stock is up 53% over the past three months.

Hertz blamed softer used‑car demand for realized losses on the sale of vehicles in May, which will negatively affect net depreciation per unit per month for the second quarter. The company now expects DPU per month will be about $300 for the second quarter. Hertz also announced a $100 million stock offering.

Hertz shares were recently down 31% at $3.49.

Write to Doc Louallen at Doc.Louallen@wsj.com

(END) Dow Jones Newswires

June 24, 2026 12:43 ET (16:43 GMT)

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