Hertz Reports Q4 Loss, Shares Fall 11% Amid Revenue Miss

Hertz Global Holdings reported a fourth-quarter adjusted loss of $1.18 per share, exceeding analysts' expectations of a $0.72 loss, leading to an 11% drop in its share price. Revenue for the quarter was $2.04 billion, missing the consensus estimate of $2.13 billion and reflecting a 6.6% year-on-year decline. The company's attempt to pivot towards electric vehicles contributed to a significant $2.9 billion loss for 2024. Hertz is focused on stabilizing its business and enhancing its fleet strategy, with CEO Gil West aiming for operational transformation by 2025. Despite these challenges, Hertz's shares have risen 16.4% since the start of the year, outperforming the S&P 500. Investors remain cautious about the company's future performance as it continues its strategic overhaul.