Hertz Global Holdings Earnings: Here’s Why Shares are Down Now
Hertz Global Holdings, Inc. (NYSE:HTZ) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.13%.
Hertz Global Holdings, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 320% to $0.21 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Rose 24.25% to $2.44 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hertz Global Holdings, Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.17. It beat the average revenue estimate of $2.39 billion.
Quoting Management: Mark P. Frissora, the Company’s Chairman and Chief Executive Officer, said, “We’ve now achieved record year-over-year adjusted pre-tax income seven consecutive quarters and increased employee productivity twenty six consecutive quarters. Our record first quarter 2013 results were driven by year-over-year, double-digit revenue and pre-tax margin growth in the car and equipment rental and leasing businesses, especially in North America. Dollar Thrifty is performing better than anticipated, with integration and synergy progress exceeding our targets,” he added.
Key Stats (on next page)…
Revenue increased 5.09% from $2.32 billion in the previous quarter. EPS decreased 36.36% from $0.33 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.46 to a profit $0.47. For the current year, the average estimate has moved up from a profit of $1.80 to a profit of $1.90 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)