Hertz Global (HTZ) Misses Q1 EPS by 70c, Sales Miss

Hertz Global (NYSE: HTZ) reported Q1 adj-EPS of ($1.61), $0.70 worse than the analyst estimate of ($0.91). Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.94 billion.

"As previously outlined, we are executing on a turnaround plan that puts our customers at the center of everything we do," said Kathryn V. Marinello, president and chief executive officer. "Our goal is to strengthen the business to drive predictable, sustainable growth over the long term. While we are mindful of today's headwinds related to used car residual values, our commitment to investing in the business remains steadfast. In particular, we are placing significant emphasis on fleet quality, the customer experience, brand development and systems transformation. These investments are critical to rebuilding our position as a leader in the global rental car market. While our performance doesn't yet reflect our investments and may continue to be uneven, we are seeing signs of progress."

For earnings history and earnings-related data on Hertz Global (HTZ) click here.

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