"Performance" Car rental company Hertz's stock price rose by over 9%, with last season's losses narrowing
Car rental company Hertz (HTZ.US) reported an improved loss in the second quarter compared to the same period last year, narrowing the loss to $290 million, with an adjusted loss per share of 34 cents, better than the market expectation of a loss of 42 cents. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was approximately $1 million, marking its first positive EBITDA in about two years. Hertz's stock price rose over 9% on Thursday.
During the period, the company's total revenue fell 7% to $2.19 billion
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