Hertz Global Earnings: HTZ shares fall 4% compared to Q4 earnings

<p>Hertz Global (NYSE: HTZ) revenues for the car rental company’s fourth quarter of 2019 have HTZ inventories falling after Monday. This despite the adjusted diluted losses per share of -24 cents beating Wall Street‘s estimate of -27 cents. However, the problem stems from its $ 2.33 billion revenue, which is lower than analysts’ estimates of $ 2.34 billion.

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Here’s what’s worth mentioning from the latest Hertz Global earnings report.

Adjusted diluted losses per share is a 50% improvement compared to -48 cents from the same time last year. Revenue for the quarter will be 1.75% above $ 2.29 billion in the fourth quarter of 2018. Hertz Global earnings report also includes a net loss of $ 115 million. That is 12.75% wider net loss than $ 102 million reported during the same period last year.

Kathryn Marinello, CEO of Hertz Global, had this to say about HTZ share income:

“We have made tremendous progress over the past three years in re-igniting top-line growth, increasing margin expansion and improving customer satisfaction. Our latest results reflect 10 straight quarters of sales growth compared with the previous year and nine consecutive quarters of the adjusted company’s EBITDA growth compared with the year before. ”

Hertz Global’s earnings report does not include the outlook for 2020. However, we know what Wall Street estimates. This includes an adjusted earnings per share (EPS) of $ 1.66 on revenue of $ 10.09 billion.

The HTZ share fell by 3.57% after the markets closed on Monday. The stock also decreased by 4.4% when the bell rang.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/hertz-global-earnings-hit-htz-stock/.

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