Hertz Global Holdings, Inc - HTZ STOCK NEWS

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.

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.