Hertz Profit Turnaround and Stock Momentum

3 months ago

"Hurts. I am a gold customer at Hertz. I mean, I could just pull right up, get any car I want and pull off. So there. And what do you you know, what's gold? Their share. But their stock is up 25%. Okay, take it easy. So it swung to a third quarter profit. It was helped by this lower depreciation. So the companies continue that strategy. Right. They're swapping out the older cars for the newer fleet. In August, you remember they started selling those used cars on Amazon. So that was a move to kind of offload more vehicles to those retail buyers, a path to higher profits. So if you want the specific numbers, I'll hit you with net income 184 million $0.42 a share. That was compared with a loss of 1.33 billion or $4.34 a share the year prior."

The speaker highlights Hertz's turnaround, citing a 25% stock rise fueled by a third quarter profit improvement, strategic fleet updates, and a significant positive shift in net income compared to the previous year.

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