Hertz Global Earnings: HTZ Stock Slides Despite Q1 Loss Narrowing

Shares had been gaining during regular trading hours

Hertz Global (NYSE:HTZ) reported its latest quarterly earnings results after hours today, bringing in a loss that was narrower than it was during the same period in the previous fiscal year, while also coming in ahead of what analysts called for, yet HTZ stock fell late Monday.

Hertz Global Earnings
Source: Shutterstock

The Florida-based car rental service said that for its first quarter of its fiscal 2019, it posted a loss of 99 cents per share on an adjusted basis. This amount was about 37.3% narrower than the company’s loss from the year-ago quarter, when it posted an adjusted loss of $1.58 per share.

Analysts were calling for Hertz Global to bring in a loss of $1.32 per share, according to data compiled by Zacks Investment Research. The company’s revenue for the period came in at $2.1 billion, which marked an increase of 2% when compared to the same period in its fiscal 2018.

The business added that its net loss attributable to Hertz Global came in at around $147 million, or $1.75 per diluted share for the period.. This was narrower than the company’s results from the same period a year ago, when it brought in a loss of $202 million, or $2.43 per diluted share.

HTZ stock was down about 0.6% after hours despite the company posting results that surpassed expectations. Shares had been gaining about 0.6% during regular trading hours as Hertz geared up to reports its latest quarterly earnings results.


Article printed from InvestorPlace Media, https://investorplace.com/2019/05/hertz-global-earnings-htz-stock/.

©2019 InvestorPlace Media, LLC