Hertz Global Holdings, Inc - HTZ STOCK NEWS

Hertz (NASDAQ: HTZ) has announced a collaboration with Amazon Web Services (AWS) to enhance its customer experience and mobility platform through cloud technology. This partnership aims to utilize AWS's advanced analytics and telematics capabilities, facilitating a digital-first experience and supporting Hertz's investment in electric vehicles (EVs). The initiative includes developing a vast EV rental fleet in North America and scaling the global charging infrastructure. Hertz plans to transition its core infrastructure to AWS, fostering innovation and improving fleet management.

Hertz (NASDAQ: HTZ) has announced the appointment of Colleen Batcheler as executive vice president, general counsel, and secretary, effective May 20, 2022. Batcheler will succeed M. David Galainena, who is retiring after nearly 40 years in law, including three years at Hertz. Batcheler has over 15 years of experience in leadership roles, previously serving at Conagra Brands. Hertz CEO Stephen Scherr expressed excitement about Batcheler's strategic expertise amid significant opportunities for the company in the mobility and travel industry.

Hertz Global Holdings, Inc. (NASDAQ: HTZ) is set to announce its first quarter 2022 financial results on April 27, 2022, at 4:00 p.m. ET, followed by an earnings call at 5:00 p.m. ET. Detailed earnings information will be available on the company's Investor Relations website. Hertz operates the internationally recognized vehicle rental brands Hertz, Dollar, and Thrifty across multiple regions including North America, Europe, and Asia.

Hertz has partnered with Polestar to purchase up to 65,000 electric vehicles (EVs) over five years, starting in Spring 2022 in Europe and late 2022 in North America and Australia. This move supports Hertz's goal of leading in electrification and enhancing its EV rental fleet. The initial order includes the Polestar 2, recognized for its premium features and technology. Polestar aims to significantly increase its production, targeting 290,000 vehicles annually by the end of 2025, further enhancing the EV market as consumer interest rises.

On March 25, 2022, Hertz Global Holdings, Inc. (NASDAQ: HTZ) announced the pricing of three series of rental car asset-backed notes totaling $1.41 billion. The offerings include $333.33 million in Series 2022-3, $580 million in Series 2022-4, and $317.07 million in Series 2022-5 notes, which will be sold to unaffiliated parties. Proceeds will primarily be used to repay existing notes and acquire or refinance vehicles for the rental fleet. The transaction is set to close on March 30, 2022.

Hertz Global Holdings, Inc. (NASDAQ: HTZ) announced plans to issue rental car asset-backed notes totaling $1.15 billion through its subsidiary Hertz Vehicle Financing III LLC. The offering comprises three series of notes with principal amounts of $333.3 million each for Series 2022-3 and Series 2022-4, and $333.34 million for Series 2022-5. Proceeds will primarily be used to repay existing notes and for vehicle acquisitions to support Hertz's U.S. rental car fleet. The notes will be offered privately and exempt from the Securities Act's registration requirements.

Hertz Global Holdings (HTZ) reported strong fourth quarter results for 2021, with revenues of $1.9 billion, a 78% increase from Q4 2020, although down 9% from Q4 2019. Adjusted earnings per share reached $0.91, and Adjusted Corporate EBITDA was $628 million. For the full year, total revenues hit $7.3 billion, with an adjusted EPS of $4.39 and a record EBITDA of $2.1 billion. The company ended 2021 with $3.2 billion in liquidity, after repurchasing shares and preferred stock during Q4.

Hertz has appointed Stephen M. Scherr as its new Chief Executive Officer, effective February 28, 2022. Scherr aims to transform the company by focusing on shared mobility, electrification, and a digital-first customer experience. With nearly 25,000 employees, Hertz seeks to enhance growth and create value through innovative fleet management. Scherr, who previously spent 30 years at Goldman Sachs, is recognized for his strategic leadership and experience in building partnerships. The company also thanks interim CEO Mark Fields for his contributions during the recent relisting.

Hertz Global Holdings, Inc. (NASDAQ: HTZ) announced its intention to release fourth quarter 2021 financial results on February 23, 2022, at 4:00 p.m. ET, followed by an earnings call at 5:00 p.m. ET. The earnings press release will provide further details, with financial materials accessible on Hertz's Investor Relations website. Hertz is a leading global vehicle rental company, operating the Hertz, Dollar, and Thrifty brands, among others, across numerous international markets.