Hertz's 3Q operational results continues to exhibit value in its improving operational performance and positioning within a changing industry
FROM THE SALES DESK
Hertz continues to execute on a company turnaround with a good quarter of operational results. CEO Kathryn Marinello reiterated Hertz’s continued spending initiatives on further improvements in operations as well as marketing and brand management. Contrary to some market expectations, the company is well positioned to benefit from a changing automotive market environment with the introduction of autonomous vehicles (driverless cars) as well as ride sharing. Hertz remains committed to further improving its credit profile through operational improvements; these continued improvements will increase operational efficiency as well as improve sales of residual values resulting in an improving financial performance and credit profile.
We continue to see value in Hertz in its improving operational performance and positioning within a changing industry.
Summary of 3Q17 Results
- Revenue of USD2.572bn in line with consensus estimates (+2% year on year (yoy), excluding foreign exchange)
- Adjusted earnings per share of USD1.465 beat estimates of USD1.33
- Vehicle utilisation increased yoy as a result of improved efficiencies in fleet management
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