Hertz Shares Jump After Clocking 4% Revenue Growth In Q4

Hertz Global Holdings Inc HTZ reported fourth-quarter revenue growth of 4% year-over-year to $2.04 billion, missing the consensus of $2.05 billion.

• Adjusted EPS of $0.50 beat the consensus of $0.46.
• Adjusted Corporate EBITDA margin contracted by 1,700 bps to 15% as the Adjusted Corporate EBITDA declined 51% Y/Y.
• Average Vehicles increased by 6% Y/Y, and Average Rentable Vehicles increased by 3% for the quarter.
• Vehicle Utilization was flattish at 79%. Total RPD increased 3% Y/Y to $61.65.
• Americas RAC segment revenues increased 1% Y/Y to $1.71 billion, and International RAC increased 27% Y/Y to $328 million.
• The company held cash and equivalents of $1.42 billion.
• HTZ generated $277 million in operating cash flow.

Price Action: HTZ shares are trading higher by 3.51% at $18.30 premarket on the last check Tuesday.

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