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Hertz (HTZ) Reports Q1 Earnings Miss, Reaffirms 2016 Guidance

Hertz Global Holdings, Inc. HTZ just released its first quarter fiscal 2016 earnings results, posting an earnings loss of $-0.12 per share and revenue of $2.31 billion.  

Currently, HTZ has a Zacks Rank #5 (Strong Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Hertz:                                                       

1. Missed earnings estimates. The company posted an earnings loss of $-0.12 per share, missing the Street Consensus Estimate of a loss of $-0.03 per share.

2. Missed revenue estimates. The company saw revenue figures of $2.31 billion, which just fell behind the Street consensus estimate of $2.354 billion and decreased 5.7% year-over-year.

3. Reported worldwide car rental revenues of $1.8 billion, a decline of roughly 6% from the year-ago quarter, and its worldwide car rental average fleet declined 4% versus the first quarter of 2015, while fleet efficiency rose to 77%, a 400 basis point increase versus the first quarter of 2015.  

4. Reaffirmed its full-year 2016 guidance of adjusted earnings per share in the range of $0.95-$1.10.

5. HTZ was down $0.01, or 0.06%, to $8.76 as of 5:12 PM ET in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Hertz’s performance over the past year vs. the S&P 500:

Hertz is the world’s largest general use car rental brand, operating from approximately 8,100 locations in 147 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 69 major airports in Europe, as well as operating both corporate and licensee locations in cities and airports in North America.

Check back later for our full analysis on Hertz’s first quarter earnings report!

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