Hertz Shows Profit Turnaround

3 months ago

Paul Sweeney

"And you know what? You know what's gold? Their share their stock is up 25%. Okay, take your HTZ. Um so it swung to a third quarter profit. It was held by this lower depreciation. So the company's continuing 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. Um, so that was a move to kind of offload more vehicles to those retail buyers. Um, a path to higher profits. So, if you want the specific numbers, I'll hit you with net income. Okay. 184 million42 cents a share. That was compared with a loss of 1.33 billion or $4.34 um a share the year prior."

The speaker highlights Hertz (HTZ) as a positive story, noting its 25% stock increase driven by a turnaround in profitability through lower depreciation and strategic fleet upgrades, which have led to a significant net income improvement.

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