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 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.
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.
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.
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.
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.
Hertz (NASDAQ: HTZ) announced the appointment of Ned Ryan as chief product development officer, effective May 9. Ryan will focus on delivering connected products and enhancing customer experience as Hertz strengthens its position in the modern mobility ecosystem. CEO Stephen Scherr stated that Ryan's innovative background, including founding successful mobility ventures and a senior role at Ford, makes him a perfect fit for advancing Hertz's digital strategy. Ryan expressed excitement about contributing to Hertz's growth and innovation.
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.
FAQ
What is the current stock price of Hertz Global Holdings (HTZ)?
What is the market cap of Hertz Global Holdings (HTZ)?
What brands does Hertz operate under?
How many locations does Hertz have worldwide?
What distinguishes Hertz from other car rental companies?
Who recently joined Hertz as EVP and COO?
What is Hertz's Rent2Buy program?
Where can I find Hertz's quarterly financial results?
How does Hertz manage its fleet?
What services does Donlen Corporation provide?
What is Hertz’s approach to environmental sustainability?
How can I participate in Hertz's earnings call?
