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Hertz Global Holdings, Inc - HTZ STOCK NEWS

Welcome to our dedicated page for Hertz Global Holdings news (Ticker: HTZ), a resource for investors and traders seeking the latest updates and insights on Hertz Global Holdings stock.

Hertz Global Holdings, Inc. (NASDAQ: HTZ) is a global leader in vehicle rental and leasing services. Operating under the well-known brands Hertz, Dollar, Thrifty, and Firefly, the company offers diverse rental solutions spanning across more than 11,000 corporate and franchise locations in 140 countries, including North America, Europe, Latin America, Asia, Australia, Africa, the Middle East, and New Zealand.

Hertz is recognized as the largest worldwide airport general use car rental company with over 1,700 airport locations in the U.S. and more than 1,300 international airport locations. The company’s signature programs, such as Hertz Gold Plus Rewards, NeverLost® navigation, Carfirmations text alerts, and Mobile Wi-Fi, provide enhanced customer experiences. Unique vehicle offerings through the Adrenaline, Dream, Family, Fun, Green, and Prestige Collections further distinguish Hertz from competitors.

Beyond traditional car rentals, Hertz owns Donlen Corporation, a leading vehicle leasing and fleet management company. Additionally, it operates the Hertz 24/7 hourly car rental service and sells pre-owned vehicles via the Rent2Buy program. Hertz also manages one of the largest equipment rental businesses, Hertz Equipment Rental Corporation (HERC), which boasts over 355 locations.

Financially, Hertz Global Holdings has demonstrated resilience and adaptability. Recent updates include the hiring of Justin Keppy as Executive Vice President and Chief Operating Officer to drive operational efficiencies and growth. Under the leadership of CEO Stephen Scherr, Hertz continues to focus on cost management, fleet optimization, and enhancing customer service. In the latest quarter, Hertz reported record revenues, reflecting strong demand in leisure and rideshare segments. However, the company is addressing challenges related to fleet costs and operational expenses to maintain profitability.

Looking forward, Hertz is committed to shaping the future of mobility with ongoing investments in technology and infrastructure. The company’s strategic initiatives aim to deliver premium service while capitalizing on growth opportunities in the booming travel and automotive sectors.

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Hertz Global Holdings announced two new offerings totaling $750 million. The offerings include $500 million of First Lien Senior Secured Notes and $250 million of Exchangeable Senior Second-Lien Secured PIK Notes, both due in 2029. These private offerings aim to pay down part of Hertz's $2 billion revolving credit facility.

The Exchangeable Notes will bear PIK interest, payable semi-annually, and are expected to have an initial exchange price between $6.00 and $7.00 per share. These notes are exchangeable into cash, shares, or a combination at Hertz's discretion, and holders can require repurchase under certain conditions.

The notes are guaranteed by Hertz and its subsidiaries, with the First Lien Notes being secured by collateral that also backs Hertz's first lien credit facilities.

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Hertz Global Holdings (NASDAQ: HTZ) announced the appointment of Scott M. Haralson as the new Chief Financial Officer, effective by the end of June. Haralson succeeds Alexandra Brooks, who will leave the company at the end of the month. CEO Gil West highlighted Haralson's expertise in financial management and capital markets as important for Hertz's ongoing transformation and growth. Haralson, with over 25 years in the transportation industry, previously served as CFO of Spirit Airlines. Concurrently, COO Justin Keppy will resign, effective June 3, 2024.

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Hertz Global Holdings, Inc. reported its first quarter 2024 results with revenue of $2.1 billion but faced challenges with a GAAP net loss of $186 million and an adjusted net loss of $392 million. The company's adjusted Corporate EBITDA was negative $567 million, driven by a $588 million increase in vehicle depreciation. Hertz is focusing on improving fleet costs, productivity, and customer experience to capitalize on travel demand.
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Hertz Global Holdings, Inc. (HTZ) will announce its first quarter 2024 financial results on April 25, 2024, followed by an earnings call. The call will be accessible via webcast or phone registration.
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Hertz Global Holdings, Inc. appoints Gil West, former COO of Delta Airlines, as CEO to drive operational growth. West to lead strategic initiatives for revenue and EBITDA growth, focusing on technology and commercial partnerships.
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Hertz Global Holdings, Inc. reported a strong Q4 2023 with revenues of $2.2 billion, up 7% from the previous year, but also a GAAP net loss of $348 million. Adjusted net loss was $418 million, and adjusted Corporate EBITDA was negative $382 million. The company's full-year 2023 revenue was $9.4 billion with a net income of $616 million. However, adjusted free cash outflow for the year was $321 million. The company's fleet interest expense increased, and adjusted Corporate EBITDA was negative $382 million in the quarter. Despite a 7% increase in total revenues, the company faced challenges related to its electric vehicle fleet and other costs. The company's financial performance was affected by a negative 17% margin in the fourth quarter, and a 6% margin for the full year. Hertz also repurchased 19.4 million shares of common stock for $291 million.
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Hertz Global Holdings, Inc. (HTZ) announced plans to report its Q4 2023 financial results on February 6, 2024, followed by an earnings call. The live webcast will be available on the Investor Relations page of the Company's website, with a web replay available for approximately one year.
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EVgo Inc. (EVGO) and Hertz (HTZ) Joint Promotion Offers Special Charging Rates for EV Renters
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Hertz Global Holdings, Inc. reported record revenue in Q3 2023, with total revenues of $2.7 billion and net income of $629 million. The company saw strength in demand and stability in pricing, particularly in leisure and rideshare channels. Hertz remains focused on improving margins and investing for future growth opportunities.
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Hertz Global Holdings announced the appointment of Justin Keppy as Executive Vice President and Chief Operating Officer. Keppy brings over 25 years of operational experience and will be responsible for running the day-to-day operations of the company's global business.
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FAQ

What is the current stock price of Hertz Global Holdings (HTZ)?

The current stock price of Hertz Global Holdings (HTZ) is $3.66 as of November 20, 2024.

What is the market cap of Hertz Global Holdings (HTZ)?

The market cap of Hertz Global Holdings (HTZ) is approximately 1.2B.

What brands does Hertz operate under?

Hertz operates under the Hertz, Dollar, Thrifty, and Firefly brands.

How many locations does Hertz have worldwide?

Hertz has more than 11,000 corporate and licensed locations across 140 countries.

What distinguishes Hertz from other car rental companies?

Hertz offers unique programs like Hertz Gold Plus Rewards, NeverLost® navigation, and specialized vehicle collections.

Who recently joined Hertz as EVP and COO?

Justin Keppy joined Hertz as Executive Vice President and Chief Operating Officer.

What is Hertz's Rent2Buy program?

Rent2Buy allows customers to rent and test drive a vehicle before purchasing it.

Where can I find Hertz's quarterly financial results?

Hertz's quarterly financial results are available on the Investor Relations page of their website, https://ir.hertz.com.

How does Hertz manage its fleet?

Hertz optimizes fleet management through continuous investments and strategic initiatives tailored to market demand.

What services does Donlen Corporation provide?

Donlen Corporation offers vehicle leasing and fleet management services.

What is Hertz’s approach to environmental sustainability?

Hertz offers green vehicle collections and is continually investing in eco-friendly technologies and fleet options.

How can I participate in Hertz's earnings call?

Participants can register for Hertz's earnings call through the provided link on their Investor Relations page to receive dial-in details.

Hertz Global Holdings, Inc

Nasdaq:HTZ

HTZ Rankings

HTZ Stock Data

1.17B
294.99M
2.71%
91.8%
14.04%
Rental & Leasing Services
Services-auto Rental & Leasing (no Drivers)
Link
United States of America
ESTERO