Hertz

Hertz Global Holdings, Inc. engages in the provision of car rental services. It operates through the following segments: U.S. Rental Car, International Rental Car, and All Other Operations. The U.S. Rental Car segment deals with rental of vehicles, as well as sales of ancillary products and services in the U.S. The International Rental Car segment offers rental and leasing of vehicles, as well as sales of ancillary products and services internationally. The All Other Operations segment refers to the vehicle leasing and fleet management services, and other business activities through its subsidiary DonLen. The company was founded in 1918 and is headquartered in Estero, FL.

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Hertz reports strong Q4 earnings, eyes growth in EV market

Hertz had a strong Q4 and record year, focusing on growth initiatives.
Performance in corporate and inbound travel was robust with positive trends.
Challenges include managing depreciation costs and price declines cautiously.
Opportunities lie in revitalizing brands, expanding EV fleet, and cost efficiency.

Hertz reports strong Q1 earnings, eyes EV expansion and market revitalization

Hertz delivered robust financial performance in Q1 2023, driven by revenue growth, EBITDA margin improvement, and strategic initiatives to optimize fleet operations.
While facing challenges with rising interest expenses and accounting changes, Hertz remains focused on capitalizing on opportunities in EV expansion and market revitalization.
Overall, Hertz's proactive approach to fleet management, pricing strategies, and market positioning reflects resilience and adaptability in a dynamic industry landscape.

Hertz reports robust Q2 earnings, eyes growth opportunities in 2024

Hertz's Q2 2023 performance reflects strong revenue growth, effective fleet management strategies, and progress on key initiatives. While facing challenges in residual risk management and market fluctuations, the company is optimistic about growth opportunities in 2024 and actively considering share repurchases. Transitioning to the Cloud and strengthening partnerships offer avenues for future growth.

Hertz achieves record revenue in Q3, focuses on brand strength and productivity

Hertz's Q3 performance reflects revenue growth, margin improvement, and operational efficiencies. The company is strategically focusing on brand strength, productivity gains, and expanding into growth sectors. Challenges with EV costs and pricing dynamics are being actively managed to drive future profitability.

Hertz plans cost-saving measures and fleet optimization for 2024

Hertz is confident in its path forward for 2024, focusing on reducing the EV fleet and implementing cost-cutting measures to improve financial position. The company aims to increase EBITDA in 2024, stabilize residual prices, and achieve significant cost savings. Despite challenges, Hertz sees opportunities in fleet optimization and cost reduction strategies.

Hertz faces financial challenges but focuses on operational efficiency

Hertz's Q1 2024 earnings call reflected financial challenges but also highlighted strategic initiatives to improve operational efficiency and profitability.
The company's focus on fleet optimization, revenue growth, and cost reduction indicates a proactive approach to address current difficulties.
Despite short-term challenges, Hertz's emphasis on customer experience, liquidity management, and cost reduction presents opportunities for long-term growth and stability.
The transition year under new leadership aims to position Hertz for success through fleet rotation, premium revenue growth, and operational excellence.

Hertz (HTZ) reports progress in transformation strategy and revenue growth

Hertz's Q2 2024 earnings call highlights progress in fleet optimization, cost management, and revenue growth strategies.
The company aims to strengthen its balance sheet, liquidity position, and achieve target metrics by 2025 for sustainable growth.
Challenges include executing fleet rotation plan, managing maintenance costs, and balancing cost reduction with revenue growth.
Opportunities lie in optimizing fleet mix, enhancing customer experience, and driving profitability through value-added services.

Hertz reports Q3 revenue of $2.6B, focuses on cost efficiencies

Hertz's Q3 performance was impacted by an asset impairment charge, with a focus on optimizing fleet rotation and reducing costs.
The company's strengths lie in operational excellence, customer experience, and commitment to cost efficiencies.
Challenges include market volatility, capital raising, and improving unit metrics, while opportunities exist in revenue enhancement and operational optimization.

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Hertz Global Holdings, Inc. engages in the vehicle rental business through the Hertz, Dollar, and Thrifty brands. It operates under the Americas Rental Car (RAC) and International Rental Car (RAC) segments. The Americas RAC segment focuses on operations in the United States, Canada, Latin America, and the Caribbean. The International RAC segment includes the provision of rental and sales of vehicles and value-added services in other locations. The company was founded in 1918 and is headquartered in Estero, FL.

Hertz said expensive repairs helped inform its decision to downsize its EV fleet.  The move is a warning to potential EV owners about "hidden'" costs.

Hertz dumping 20,000 EVs is a warning to electric-car owners everywhere

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The rental car company blamed the sharp drop in the value of electric vehicles and higher repair costs for its decision to sell 20,000 cars.

Hertz Will Sell Electric Cars After Being Burned by Tesla's Price Cuts

Hertz had said it would order 100,000 Teslas by the end of 2022 and followed that with a decision to buy up to 65,000 units over five years from Polestar.

Hertz plans to sell 20,000 EVs, including Teslas, as it returns focus to gas-powered cars

Tesla

Tesla stock is working on its ninth loss in 10 trading days. Hertz is dumping many Tesla EVs, citing weak demand and high collision costs.

Tesla Stock Breaks Key Level For First Time Since November As Hertz Downsizes EV Fleet

Hertz said it will sell about 20,000 electric vehicles from its U.S. fleet. It said it expects the sale of the EVs to "take place in an orderly fashion over the course of 2024.

Hertz selling 20,000 EVs from fleet, to reinvest in gas-powered vehicles

Hertz Global (NYSE:HTZ) has announced it is selling about 20,000 electric vehicles (EV) from its US fleet — equal to about a third of its global EV fleet — “to better balance supply against demand of EVs.” In a regulatory filing, the company said the disposals of multiple makes and models of EVs were initiated in December 2023 and will take place in an orderly fashion over the course of 2024.

Hertz to slash EV fleet by about 20,000 due to weak demand

Hertz Global Holdings Inc (NASDAQ: HTZ) plans on selling 20,000 electric vehicles it currently has in its U.S. fleet. Shares of the car rental company opened in the red on Thursday.

Hertz just revealed plans of switching back to gas-powered vehicles

The car-rental company said in a filing that it would use part of the proceeds from selling about 20,000 EVs in the U.S. to purchase internal-combustion-engine vehicles.

After Big Tesla Bet, Hertz Selling One-Third of EV Fleet

The rental car giant is selling 20,000 EVs and will lose about $245 million on the sale. The stock is down.

Hertz Has A Loss On Its EV Fleet. Blame Tesla Pricing Decisions.

Hertz Global Holdings Inc. said Thursday it is selling about 20,000 electric vehicles from its fleet, or about one-third of the total, and expects to book charges of about $245 million in the fourth quarter.

Hertz cites weak demand, high damage costs in decision to downsize EV fleet

Hertz Global Holdings said on Thursday it would sell about 20,000 of its electric vehicles (EVs) from its U.S. fleet, or about one-third of the global EV fleet.

Hertz to sell about 20,000 EVs from US fleet

ESTERO, Fla. , Jan. 11, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ)  (the "Company") announced today that it plans to report its fourth quarter 2023 financial results at approximately 7:30 a.m.

Hertz Global Holdings, Inc. to Announce Fourth Quarter 2023 Financial Results on February 6th

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Barron's annual list of unloved stocks ranges from tech giant Alibaba to miner Barrick to auto rental stalwart Hertz Global.

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Hertz Global Holdings Inc   (NASDAQ:HTZ) attracted a downgrade from Oppenheimer to "perform" from "outperform" today, with the analyst highlighting several possible challenges in the year ahead, including higher vehicle interest expense and distribution per unit (DPU), as well as potential struggles for its electric vehicle (EV) initiative.

Hertz Stock Downgraded on Potential 2024 Challenges

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EVGO Stock Alert: EVgo Teams Up With Hertz to Offer Special Charging Rates

ESTERO, Fla. & LOS ANGELES--(BUSINESS WIRE)--Hertz (NASDAQ: HTZ) and EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced a joint promotion to offer one year of special charging rates to drivers renting any EV model at a Hertz location across the country. Available exclusively to new EVgo customers, drivers who sign up for this promotion can save when they plug in across EVgo's nationwide netwo.

Hertz and EVgo Partner to Offer EV Renters One Year of Special Charging Rates

Hertz has aggressively incorporated electric vehicles into its fleet, but it revealed some challenges in its Q3 2023 earnings call.

Hertz Hurt By Electric Vehicle Challenges

Hertz is slowing down plans to include more electric cars in its fleet.  The firm said EVs have higher repair costs and have depreciated significantly.

Hertz's embrace of Teslas isn't going so well

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Ford, Hertz warning for EVs as Canoo, VinFast, Nio stocks sink

Hertz CEO Stephen Scherr told CNBC's Jim Cramer that his company will continue buying electric vehicles despite problems with the cars over the last quarter.

Hertz CEO says company will continue to add electric vehicles to its fleet, despite issues

Hertz now has 35,000 Tesla vehicles and around 50,000 electric vehicles in its fleet.

News for Hertz Stock (HTZ)