๐ข ๐๐๐๐ ๐๐: $Hertz Global(HTZ.US) Hertz Cuts Q2 EBITDA Outlook on Weak Used-Car Market
๐ ๐๐๐ฒ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ:โค ๐๐๐ซ๐ญ๐ณ lowered Q2 ๐๐๐ฃ๐ฎ๐ฌ๐ญ๐๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐๐๐๐ outlook to ๐๐-๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง.โค Company cited unexpected ๐ฐ๐๐๐ค๐ง๐๐ฌ๐ฌ in the used-car market.โค Losses on ๐ฏ๐๐ก๐ข๐๐ฅ๐ ๐ฌ๐๐ฅ๐๐ฌ in May offset gains recorded in April.โค Hertz now expects Q2 ๐ง๐๐ญ ๐๐๐ ๐ฉ๐๐ซ ๐ฆ๐จ๐ง๐ญ๐ก of approximately ๐๐๐.โค Fleet size, revenue, rental days, and ๐๐๐ฉ๐๐๐ข๐ญ๐ฒ ๐ฎ๐ญ๐ข๐ฅ๐ข๐ณ๐๐ญ๐ข๐จ๐ง remain in line with expectations.โค Q2 year-over-year ๐ซ๐๐ฏ๐๐ง๐ฎ๐ ๐ฉ๐๐ซ ๐๐๐ฒ growth accelerated above Q1 trends.โค Revised EBITDA outlook remains within prior margin expectations but near the ๐ฅ๐จ๐ฐ ๐๐ง๐.โค Preliminary figures are ๐ฎ๐ง๐๐ฎ๐๐ข๐ญ๐๐ and subject to change.๐ ๐๐ก๐ฒ ๐๐ญ ๐๐๐ญ๐ญ๐๐ซ๐ฌ:โค Used-car prices remain a key driver of Hertz's ๐๐ฅ๐๐๐ญ ๐ฉ๐ซ๐จ๐๐ข๐ญ๐๐๐ข๐ฅ๐ข๐ญ๐ฒ.โค Vehicle disposition losses could pressure near-term ๐๐๐ซ๐ง๐ข๐ง๐ ๐ฌ despite solid rental demand.โค Strong rental metrics suggest core operating demand remains ๐ซ๐๐ฌ๐ข๐ฅ๐ข๐๐ง๐ญ.
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$Hertz Global(HTZ.US) | ๐๐๐ซ๐ญ๐ณ: Jefferies reiterates ๐๐จ๐ฅ๐, raises ๐๐ ๐ญ๐จ $๐
Analyst sees strong pricing and EBITDA execution offset by ongoing liquidity concerns. - W
$Hertz Global(HTZ.US) Slim Double Beat
EPS: $(0.72) vs $(0.73) estREV: $2.004B vs $1.885B est๐ฅ -1.23% - M
$Passenger Ground Transportation(IN00321.US)$Passenger Ground Transportation(IN00321.US)