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Hertz (HTZ) Stock Dips On Q4 Earnings Miss, Poor Outlook
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Hertz Global Holdings, Inc. (HTZ - Free Report) 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.
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. 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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Hertz (HTZ) Stock Dips On Q4 Earnings Miss, Poor Outlook
Hertz Global Holdings, Inc. (HTZ - Free Report) 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.
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!
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2018 today >>