Will Hertz (HTZ) Lose More Ground Post The Q1 Debacle?
The company posted a quarterly adjusted loss of $1.61 per share, which was wider than the Zacks Consensus Estimate of a loss of $1.00 and also the year-ago loss of 79 cents.
Results were hurt by weak sales, increased fleet investments and higher spending on tech and brand development.
Total revenue slipped 3% year over year to $1,916 million, mainly due to soft revenues at the domestic and international segments.
The company posted adjusted EBITDA loss of of $110 million, against profit of $27 million in the year-ago period.
Hertz, which shares space with Avis Budget Group, Inc. (NASDAQ:CAR) , ended the quarter with cash and cash equivalents of $785 million, total debt of $14,088 million and shareholders’ equity of $918 million.
Source: Zacks Investment Research
https://www.investing.com/analysis/will-hertz-(htz)-lose-more-ground-post-the-q1-debacle-200187995