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HomeMarketHertz Posts Earnings Beat on Uptick in Travel Demand

Hertz Posts Earnings Beat on Uptick in Travel Demand

Shares of Hertz were rising Tuesday.

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Joe Raedle/Getty Images

Hertz Global Holdings
shares were rising early Tuesday after the rental-car company posted fourth-quarter earnings that beat expectations, as travel demand picked back up.

Hertz (ticker: HTZ) reported adjusted earnings of 50 cents a share, a decline from 91 cents a year ago but surpassing analyst expectations of 46 cents, according to FactSet. 

Net income available to common stockholders for the fourth quarter soared to $116 million, up from a $710 million loss a year ago, but diluted earnings still landed at a loss of one cent a share.

“Our team delivered on renewed demand for travel, which is continuing,” said Hertz CEO and Chairman Stephen Scherr in the earnings release. 

“We look to our investments in electrification and technology to yield increasing operating leverage and improved returns and an even better product to our customers around the world,” he added.

Shares of Hertz were up 5.4%, at $18.64, in recent trading. Over the past 12 months, the stock has dropped about 12%. 

Write to Emily Dattilo at


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