NEW YORK, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating Hertz Global Holdings Inc. ("Hertz" or the "Company") (NASDAQ:HTZ) for potential violations of the federal securities laws. If you are a shareholder of Hertz and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact Radhika Gupta at rgupta@lowey.com or you can call us at (914) 733-7212. About Lowey Dannenber ...

Rental car giant Hertz on Thursday said it will sell about 20,000 electric vehicles from its U.S. fleet. The offloading of the vehicles will cut the company's global EV fleet by one-third, Hertz said in a filing with the Securities and Exchange Commission.GET FOX BUSINESS ON THE GO BY CLICKING HERE "The company expects this action to better balance supply against expected demand of EVs," the company said. Hertz said it expects the sale of the EVs to "take place in an orderly fashion over the course of 2024. ...

About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Hertz Global Holdings Inc (NASDAQ: HTZ) plans on selling 20,000 electric vehicles it currently has in its U.S. fleet. Shares of the car rental company opened in the red on Thursday.Hertz will reinvest in gas-powered vehiclesCopy link to sectionThe Nasdaq-listed firm also confirmed in its regulatory filing today that part of the proceeds from this sale will be used to reinvest in gas-powered vehicles. Hertz cited higher repair costs and weak demand for electric vehicles for the switch that it expects will re ...

Tesla cars in a Hertz rental car parking garage in San Francisco. Photo: Dylan Stewart/Image of Sports/Newscom/ZUMA PressHertz is selling about a third of its global electric vehicle fleet, citing weaker demand for its electrified rentals.The car-rental company said in a regulatory filing on Thursday that it would use part of the proceeds from selling about 20,000 EVs in the U.S. to purchase internal-combustion-engine vehicles. ...

Rental car giant Hertz is selling 20,000 all-electric vehicles. The sale will generate a loss of about $245 millionExternal link. Investors aren’t happy. ...

Hertz Global Holdings Inc. said Thursday it is selling about 20,000 electric vehicles from its fleet, or about one-third of the total, and expects to book charges of about $245 million in the fourth quarter.The move is aimed at better balancing supply and expected demand for EVs, allowing the car-rental company to scrap a disproportionate number of lower-margin rentals and reduce damage expense associated with EVs. Collision and damages costs for EVs remained high in the fourth quarter, Hertz said in a regu ...

ESTERO, Fla., Jan. 11, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ)  (the "Company") announced today that it plans to report its fourth quarter 2023 financial results at approximately 7:30 a.m. ET on Tuesday February 6, 2024 followed by an earnings call at 8:30 a.m. ET.A live webcast of the call will be available on the Investor Relations page of the Company's website at https://ir.hertz.com. To access the call by phone, please register through this link: Hertz Q4 2023 earnings call teleco ...

Hertz Global Holdings, Inc. (NASDAQ:HTZ) Q3 2023 Earnings Conference Call October 26, 2023 8:30 AM ET Company Participants Johann Rawlinson - Investor Relations Stephen Scherr - Chief Executive Officer Alexandra Brooks - Executive Vice President and Chief Financial Officer Conference Call Participants Chris Woronka - Deutsche Bank Ian Zaffino - Oppenheimer Hans Hoffman - Jefferies Ryan Brinkman - JPMorgan Chris Stathoulopoulos - SIG Operator Welcome to the Hertz Global Holdings Third Quarter 2023 Earnings C ...

Q3 2023 Financial Performance - Revenue increased by 8% year-over-year from $2.5 billion to $2.7 billion[71] - Transaction Days increased by 16% year-over-year[59], from 37.1 million to 43.1 million[59] - Average fleet size increased by 11% year-over-year from 533,000 to 590,000[3] - Depreciation Per Unit (DPU) increased by 52% year-over-year from $185 to $282[3] - Adjusted Free Cash Flow decreased by 38% year-over-year from $505 million to $313 million[3] Key Drivers and Metrics - Total RPU Per Month increased by 5% year-over-year from $1,516 to $1,596[36] - Vehicle Utilization increased by 320 bps year-over-year from 80% to 83%[90] - Total DOE increased by 17% year-over-year[25] - Net corporate leverage is 1.9x[31]