Under the Radar: Hertz Stock Plunges After Weaker Earnings Outlook
Dow Jones06-25
Shares of Hertz Global Holdings fell more than 30% after the car-rental company said its second-quarter earnings are tracking toward the low end of its guidance range.
Hertz said it expects adjusted corporate earnings before interest, taxes, depreciation and amortization of $50 million to $80 million for the quarter, within its previously projected range but toward the lower end of its guidance. The company attributed the weaker outlook to worse-than-expected demand in the used-car market. The company also announced plans for a $100 million public stock offering.
At the request of the copyright holder, you need to log in to view this content
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