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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 reported strong second-quarter 2022 results, with total revenues reaching $2.3 billion, a 25% increase year-over-year. The company posted a GAAP net income of $940 million or $1.13 per diluted share, alongside an adjusted net income of $520 million, translating to $1.22 per adjusted diluted share. Adjusted Corporate EBITDA was recorded at $764 million, a record high. Notably, Hertz repurchased 46.9 million common shares during the quarter, enhancing shareholder value.

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Hertz Global Holdings, Inc. (NASDAQ: HTZ) will report its second quarter 2022 financial results on July 28, 2022, at 7:30 a.m. ET. An earnings call will follow at 8:30 a.m. ET, which can be accessed via a live webcast on the investor relations page of the Company's website. Hertz, a leader in vehicle rentals, operates several well-known brands globally including Hertz, Dollar, and Thrifty. Investors are encouraged to dial in early to avoid delays, and a web replay will be available for approximately one year.

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Wheels Up Experience (NYSE: UP) has announced a strategic partnership with Hertz (NASDAQ: HTZ) to provide electric vehicle (EV) rentals to its members, enhancing their travel experience and commitment to sustainability. Members can access a range of high-end EVs, including Tesla and Polestar models, at over 111 private airports, with plans to expand to 500. The partnership includes elite Hertz Gold Plus Rewards membership benefits, such as vehicle upgrades and dedicated support. This initiative supports Wheels Up’s carbon offset program, aiming to reduce the carbon footprint for members.

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Hertz has announced its sponsorship of a new Porsche 963 LMDh racecar set to compete in the 2023 FIA World Endurance Championship, including the prestigious 24 Hours of Le Mans. The partnership will run from 2023 to 2025, with JOTA managing team operations and Singer Group as a sponsor. CEO Stephen Scherr expressed excitement about this new chapter in Hertz's involvement with premium motorsports, emphasizing the company's goal to enhance mobility experiences. Further details about the racing team will be revealed soon.

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Hertz Global Holdings, Inc. (NASDAQ: HTZ) announced a new $2.0 billion share repurchase program, which adds to the $2.0 billion program from November 2021. With $0.2 billion remaining from the previous authorization, total available funds for share buybacks now amount to $2.2 billion. CEO Stephen Scherr emphasized management's confidence in the company's direction and commitment to returning capital to shareholders. The program has no time limit, offering flexibility in execution methods.

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Hertz (NASDAQ: HTZ) has appointed Liz Bowyer as the new executive vice president of corporate affairs, effective June 1, 2022. In this role, Bowyer will focus on enhancing Hertz's communications, corporate reputation, and sustainability efforts. Hertz CEO Stephen Scherr emphasized Bowyer's significant experience in communications and law as a valuable asset for the company. Bowyer's background includes positions at NBC News, the White House, and Goldman Sachs. She holds degrees from the University of Florida and Columbia Law School.

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Hertz Global Holdings (NASDAQ: HTZ) announced that CEO Stephen Scherr will engage in a fireside chat at the Goldman Sachs Travel and Leisure Conference on June 6, 2022, at 11:20 a.m. ET in New York. An audio webcast can be accessed through the Investor Relations website, with a 90-day replay available post-event. Hertz operates major vehicle rental brands including Hertz, Dollar, and Thrifty globally, solidifying its position as a leading rental company.

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Hertz has partnered with Shelby American to create a limited-edition collection of Mustang Shelby GT500-H and GT-H models, featuring over 900 horsepower. This collaboration commemorates Shelby American's 60th anniversary and pays homage to the original 1966 Shelby GT350-H. The Mustang Shelby GT500-H will be available for rent at select locations, including Fort Myers, Las Vegas, and Miami, among others. The vehicles will have unique styling, including special racing stripes and Shelby logos, enhancing Hertz's legacy in offering high-performance rental cars.

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Hertz reported a robust first quarter of 2022, with total revenues soaring to $1.8 billion, a 57% increase from the previous year. GAAP net income reached $426 million, translating to $0.82 per diluted share. Adjusted net income stood at $403 million ($0.87 per adjusted diluted share), while adjusted EBITDA was $614 million, marking a 34% margin. The company demonstrated strong cash flow, with $621 million in operating cash flow. Hertz also completed significant share repurchases, enhancing shareholder value amid strong travel demand.

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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 $3.885 as of November 21, 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

1.20B
294.99M
2.71%
91.8%
14.04%
Rental & Leasing Services
Services-auto Rental & Leasing (no Drivers)
Link
United States of America
ESTERO