Hertz shares slump after quarterly results miss Wall Street estimates

Chibuike Oguh

Tue, May 13, 2025, 8:56 AM 1 min read

By Chibuike Oguh

NEW YORK (Reuters) -Shares of Hertz Global fell much than 20% connected Tuesday aft the rental car company's results missed Wall Street expectations owed to reduced conveyance fleet and a moderation successful bookings.

Estero, Florida-based Hertz reported a astir 13% driblet successful gross connected Monday to $1.81 cardinal and a narrower adjusted nett nonaccomplishment of $1.12 per share, down 13% from a twelvemonth ago.

Analysts had expected Hertz to study gross of $2 cardinal and adjusted nett nonaccomplishment per stock of 97 cents.

Hertz is connected way to drawback 4 consecutive days of gains aft falling arsenic debased arsenic $5.51, down astir 21% successful aboriginal Tuesday trading. It has since trimmed those losses and was disconnected 13.5% astatine $5.99, but is up astir 61% year-to-date.

Hertz said the driblet successful its gross was chiefly owed to reduced fleet capacity, which is down 8% year-on-year. The institution has seen a moderation successful request for bookings from corporate, authorities and U.S. inbound customers.

Last month, hedge money billionaire Bill Ackman boosted his involvement successful Hertz to astir 20% done his concern absorption institution Pershing Square, sending its shares up 56%.

(Reporting by Chibuike Oguh and Lance Tupper successful New York; Editing by Bill Berkrot)