Hertz Global (HTZ) reported earnings on Tue 8 Aug 2017 (a/h)

** charts after earnings **

 

Hertz Global misses by $0.39, reports revs in-line

• Reports Q2 (Jun) loss of $0.63 per share, $0.39 worse than the Capital IQ Consensus of ($0.24); revenues fell 2.0% year/year to $2.22 bln vs the $2.22 bln Capital IQ Consensus.
• Transaction days decreased 3% y/y to 36,233
• Total RPD decreased 2% y/y to $41.26.
• Adjusted Corporate EBITDA for 2Q17 was $35 million, compared to $184 million in the same period last year.
• Outlook: "In the U.S. rental car segment, the company is encouraged by preliminary third quarter 2017 total revenue per day trends. In July, total revenue per day is expected to have increased by approximately 3% compared with July 2016. July transaction days are estimated to have declined by about 4% as the company targets higher-quality revenue. With only approximately 55% of reservations booked, August is less clear, but early indications suggest trends similar to July. September is expected to be seasonally weaker, but the company will continue to focus on fleet capacity discipline and revenue quality."