Hertz fourth-quarter profit beats as costs come down and travel rebounds
Publishing timestamp: 2023-02-07 10:00:49
Summary
Hertz reported fourth-quarter earnings that beat Wall Street's expectations, due to improved operating performance and increased demand for travel as the Covid-19 pandemic eased. Technology improvements and hiring new employees to replace contractors helped reduce costs. Corporate travel, international travel, and ride-hailing driver rentals all saw year-over-year gains. Hertz had $2.5 billion of total liquidity available, and CEO Stephen Scherr said investors can expect further cost improvements and revenue gains as the year progresses. Shares of Hertz were up over 7% in early trading Tuesday.
Sentiment: POSITIVE
Tickers: HTZ,
Keywords: business, hertz global holdings inc, business news, transportation, earnings,
Source: https://www.cnbc.com/2023/02/07/hertz-htz-earnings-q4-2022.html