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Hertz (HTZ) Stock Dips On Q4 Earnings Miss, Poor Outlook

Benjamin Rains
Updated

Hertz Global Holdings, Inc. HTZ just released its fourth-quarter and full year 2017 financial results, posting an adjusted loss $0.77 per share and revenues of $2.09 billion. Currently, Hertz is a Zacks Rank #3 (Hold) and is down nearly 4% to $18.50 per share in after-hours trading shortly after its earnings report was released.

HTZ:

Missed earnings estimates. The company posted an adjusted loss of $0.77 per share, missing the Zacks Consensus Estimate of a $0.55 per share loss.

Beat revenue estimates. The company saw revenue figures of $2.09 billion, topping our consensus estimate of $2.04 billion.

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The rental car giant’s worldwide revenues climbed 4% year-over-year. Due to a one-time benefit of $679 million related to U.S. tax reform, Hertz reported net income of $616 million.

"In 2018, we expect to see continued progress from our U.S. improvement programs,” Hertz CEO Kathryn V. Marinello said in a statement.

“However, we also will have elevated investments throughout the year as we implement several, major technology conversions. By 2019, we should begin to evolve toward a more competitive earnings profile."

Here’s a graph that looks at HTZ’s Price, Consensus and EPS Surprise history:

Hertz Global Holdings, Inc Price, Consensus and EPS Surprise

Hertz Global Holdings, Inc Price, Consensus and EPS Surprise | Hertz Global Holdings, Inc Quote

Hertz Global Holdings, Inc. operates car rental business. The company's product and services consists of Hertz Gold Plus Rewards, NeverLost(R), Carfirmations, Mobile Wi-Fi and unique vehicles offered through the Adrenaline, Dream, Green and Prestige Collections. It operates primarily in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz Global Holdings, Inc. is based in FL, United States.

Check back later for our full analysis on HTZ’s earnings report!

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