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.
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.
Hertz Global Holdings (NASDAQ: HTZ) announced the completion of its tender offer for all outstanding Series A Preferred Shares, which concluded on December 21, 2021. The company accepted all tendered shares at a price of $1,250.00 per share, totaling $1.875 billion. The requisite consent for the proposed amendment was obtained, but the amendment is no longer necessary as all shares were tendered. Payment to shareholders will be issued promptly in cash, with applicable taxes withheld.
Hertz Global Holdings (NASDAQ: HTZ) has authorized a $2.0 billion share repurchase program, effective immediately. This includes an initial $200 million from a previous authorization. The program aims to enhance shareholder value and maintain a Net Corporate Leverage of no more than 1.5x. Repurchases can occur through various methods at management's discretion and have no time limit, allowing flexibility in execution.
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