Hertz Global Holdings - CW51

📢 𝐉𝐔𝐒𝐓 𝐈𝐍: $Hertz Global(HTZ.US) Hertz Cuts Q2 EBITDA Outlook on Weak Used-Car Market

👉 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:

➤ 𝐇𝐞𝐫𝐭𝐳 lowered Q2 𝐀𝐝𝐣𝐮𝐬𝐭𝐞𝐝 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐄𝐁𝐈𝐓𝐃𝐀 outlook to 𝟓𝟎-𝟖𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧.

➤ Company cited unexpected 𝐰𝐞𝐚𝐤𝐧𝐞𝐬𝐬 in the used-car market.

➤ Losses on 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐚𝐥𝐞𝐬 in May offset gains recorded in April.

➤ Hertz now expects Q2 𝐧𝐞𝐭 𝐃𝐏𝐔 𝐩𝐞𝐫 𝐦𝐨𝐧𝐭𝐡 of approximately 𝟑𝟎𝟎.

➤ Fleet size, revenue, rental days, and 𝐜𝐚𝐩𝐚𝐜𝐢𝐭𝐲 𝐮𝐭𝐢𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 remain in line with expectations.

➤ Q2 year-over-year 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐩𝐞𝐫 𝐝𝐚𝐲 growth accelerated above Q1 trends.

➤ Revised EBITDA outlook remains within prior margin expectations but near the 𝐥𝐨𝐰 𝐞𝐧𝐝.

➤ Preliminary figures are 𝐮𝐧𝐚𝐮𝐝𝐢𝐭𝐞𝐝 and subject to change.

👉 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬:

➤ Used-car prices remain a key driver of Hertz's 𝐟𝐥𝐞𝐞𝐭 𝐩𝐫𝐨𝐟𝐢𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲.

➤ Vehicle disposition losses could pressure near-term 𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 despite solid rental demand.

➤ Strong rental metrics suggest core operating demand remains 𝐫𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐭.

$Hertz Global(HTZ.US) | 𝐇𝐞𝐫𝐭𝐳: Jefferies reiterates 𝐇𝐨𝐥𝐝, raises 𝐏𝐓 𝐭𝐨 $𝟔

Analyst sees strong pricing and EBITDA execution offset by ongoing liquidity concerns.

$Hertz Global(HTZ.US) Slim Double Beat

EPS: $(0.72) vs $(0.73) est

REV: $2.004B vs $1.885B est

🟥 -1.23%