HTZ Stock Recent News

The promised American switch to electric vehicles from gas-engine cars is hitting speed bumps, and a new survey offers fresh indications of that slowdown.

Shares of Hertz Global Holdings Inc. continued their dive Friday toward yet another record low, after BofA Securities added to the rental-car company's woes by recommending investors sell.

Hertz Global reported higher-than-expected quarterly losses on Thursday, which sent shares down by more than 24%. The company's total losses were $588 million.

Hertz Global Holdings (HTZ) shares cratered after the rental car giant said it will incur an additional $195 million cost from its unsuccessful effort to switch over to electric vehicles (EVs), leading to a huge first quarter loss.

Hertz reported a much wider loss than expected in its first-quarter earnings report. The company increased the number of EVs it's selling.

The headline numbers for Hertz Global (HTZ) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

The rental car company's big push into EVs has proved to be a big problem.

Hertz Global Holdings, Inc. (HTZ) came out with a quarterly loss of $1.28 per share versus the Zacks Consensus Estimate of a loss of $0.45. This compares to earnings of $0.39 per share a year ago.

Shares of Hertz Global Holdings Inc. HTZ, +6.23% slumped 4.3% in premarket trading Thursday, after the rental-car company reported a much wider-than-expected loss, and increased the number of electric vehicles it plans to unload by 50%. The company swung to a net loss of $186 million, or 61 cents a share, from net income of $196 million, or 61 cents a share, in the same period a year ago.

Hertz Global (HTZ) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.