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Hertz Posts Bigger Loss, Shares Plunge 17% Amid Fleet Cuts

5/14/2025

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Summary

Story summary

Hertz Global Holdings Inc posted a first-quarter adjusted loss of $1.12 per share, exceeding the anticipated loss of 97 cents.
Following the earnings report and a $250 million stock offering, shares declined nearly 17%.
Revenue fell 13% year-over-year to $1.81 billion, missing projections.
To enhance profitability, the company intends to reduce its rental fleet due to decreased consumer demand.

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Story summary

Hertz Global Holdings Inc posted a first-quarter adjusted loss of $1.12 per share, exceeding the anticipated loss of 97 cents.
Following the earnings report and a $250 million stock offering, shares declined nearly 17%.
Revenue fell 13% year-over-year to $1.81 billion, missing projections.
To enhance profitability, the company intends to reduce its rental fleet due to decreased consumer demand.