Hertz Global (NYSE:HTZ) earnings for the car rental company’s fourth quarter of 2019 have HTZ stock falling after-hours Monday. This is despite its adjusted diluted losses per share of -24 cents beating Wall Street’s estimate of -27 cents. The problem, however, stems from its revenue of $2.33 billion, which is below analysts’ estimates of $2.34 billion.
Here’s what else is worth mentioning from the most recent Hertz Global earnings report.
- Adjusted diluted per-share losses are a 50% improvement over the -48 cents from the same time last year.
- Revenue for the quarter comes in 1.75% above the $2.29 billion in the fourth quarter of 2018.
- The Hertz Global earnings report also includes a net loss of -$115 million.
- That’s a 12.75% wider net loss than the -$102 million reported during the same period of the year prior.
Kathryn Marinello, CEO of Hertz Global, had this to say about the HTZ stock earnings:
“We have made tremendous progress over the past three years in re-igniting topline growth, driving margin expansion and improving customer satisfaction. Our latest results reflect 10 straight quarters of year-over-year revenue growth and nine consecutive quarters of year-over-year adjusted corporate EBITDA growth.”
The Hertz Global earnings report doesn’t contain its 2020 outlook. However, we know what Wall Street is estimating. This includes an adjusted earnings per share (EPS) of $1.66 on revenue of $10.09 billion.
HTZ stock was down 3.57% after markets closed on Monday. The stock was also down 4.4% when the bell rang.
As of this writing, William White did not hold a position in any of the aforementioned securities.
