Thursday , 19 October 2017

Home » WORLD NEWS » ​Hertz trims revenue outlook; shares tumble

​Hertz trims revenue outlook; shares tumble

NEW YORK – Hertz (HTZ) is cutting its revenue expectations for the year, saying that the rental car market is suffering from excess capacity.

CEO John Tague says that overflow will likely moderate heading into the peak summer season.

Hertz Global Holdings Inc. now expects full-year revenue to range from flat to dropping by 1.5 percent. The company had previously projected growth between 1.5 percent and 2.5 percent.

The company, based in Estero, Florida, expects revenue in the first quarter of between 2.5 percent and 3.5 percent.

Shares tumbled 9 percent before the opening bell Monday.

Hertz’ gloomy outlook dragged down rival Avis in premarket trading as well. Its shares fell 5 percent.

Let’s block ads! (Why?)

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

​Hertz trims revenue outlook; shares tumble Reviewed by on . NEW YORK - Hertz (HTZ) is cutting its revenue expectations for the year, saying that the rental car market is suffering from excess capacity. CEO John Tague say NEW YORK - Hertz (HTZ) is cutting its revenue expectations for the year, saying that the rental car market is suffering from excess capacity. CEO John Tague say Rating:
scroll to top