Hertz shares drop over 20% after missing revenue expectations

From Yahoo Finance: 2025-05-13 11:56:00

Shares of Hertz Global dropped over 20% after missing Wall Street expectations with a 13% revenue decline to $1.81 billion and a narrower adjusted net loss of $1.12 per share. Analysts expected revenue of $2 billion and a loss of 97 cents per share. Hertz’s fleet capacity is down 8% year-on-year due to reduced demand from corporate, government, and U.S. inbound customers. Hedge fund billionaire Bill Ackman increased his stake in Hertz to nearly 20%, boosting shares by 56%.



Read more at Yahoo Finance: Hertz shares slump after quarterly results miss Wall Street estimates