Original Meme Stock Hertz Global Gains As Q2 Sales Double After Emerging From Bankruptcy

Hertz Global Holdings Inc HTZZ reported second-quarter FY21 sales growth of 125.1% year-on-year, to $1.87 billion, reflecting solid leisure travel demand coupled with a tighter fleet inventory.
Hertz emerged from Chapter 11 Bankruptcy on June 30, 2021.
Americas rental car sales gained 202.5% Y/Y, and International rental car sales rose 84% Y/Y.
Selling, general and administrative expenses increased 4.9% Y/Y to $172 million.
Total revenue per transaction day for the quarter jumped 57% Y/Y, and total revenue per unit per month rose 171%. Vehicle utilization improved to 78% from 30% in Q2 FY20.
Depreciation per unit per month fell 65%.
Net loss of $168 million included $633 million of reorganization expenses. Adjusted corporate EBITDA was $639 million with a 34% margin.
Adjusted EPS was $2.55, versus a loss of $(3.51) last year.
"Our improved financial position and capital structure give us the flexibility and resources to build upon our strengths and capitalize on accelerating momentum in the quarters ahead," said CEO Paul Stone.
Price action: HTZZ shares traded higher by 8.58% at $17.854 on the last check Monday.
Photo by Dwight Burdette via Wikimedia