Hertz Executive Flags Q4 Softness Amid Seasonal Leisure Lull, Government Shutdown Impact
Synopsis
The company’s quarterly revenue came in at $2.48 billion, compared with expectations of $2.40 billion.
Hertz Global Holdings’ (HTZ) Chief Commercial Officer Sandeep Dube said on Tuesday that, looking ahead at the rest of the fourth quarter, there is some softness in the remaining months driven by seasonal leisure troughs combined with the impact of the government shutdown.
“Over the next few quarters, we expect our efforts to gain further traction,” Dube said during a post-earnings call.
Hertz stock jumped over 42% by Tuesday afternoon after the company reported third-quarter earnings per share (EPS) of $0.42, compared with a loss of $4.34 per share a year ago. This compares to analyst estimates of $0.07 per share, according to data from Fiscal AI.
The company’s quarterly revenue came in at $2.48 billion, compared with expectations of $2.40 billion.
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