Challenges in the EV Segment Weigh Down Hertz Stock in First Quarter
Thursday, 25 April 2024, 20:24
Hertz is still short-circuiting
Hertz's revenue in the quarter rose 2% year over year to $2.1 billion, with total transaction days up 9%. However, the company faced challenges on the cost side, leading to increased expenses and an adjusted net loss.
What's next for Hertz?
Hertz didn't offer guidance in the press release, but CEO Gil West remains optimistic about overcoming EV-related headwinds. While it may not be a buying opportunity yet, the company is expected to bounce back over the longer term.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.