Hertz: 3Q Earnings Snapshot
ESTERO, Fla. (AP) _ Hertz Global Holdings Inc. (HTZ) on Thursday reported third-quarter profit of $141 million.
On a per-share basis, the Estero, Florida-based company said it had net income of $1.68. Earnings, adjusted for non-recurring costs, were $2.14 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.78 per share.
The car rental company posted revenue of $2.76 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.64 billion.
Hertz shares have decreased 26 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.30, a drop of 22 percent in the last 12 months.