Hertz Global Q4 Results Beat Street; Shares Up 15%

(RTTNews) - Shares of Hertz Global Holdings Inc. (HTZ) surged 15% on extended trading session on Monday after the company's fourth-quarter results trumped Wall Street estimates.

Fourth-quarter net loss was $101 million or $1.20 per share, compared to net income of $616 million or $7.42 per share.

On an adjusted basis, loss per share for the quarter was $0.55 per share, narrower than $0.77 per share last year.

Revenues for the quarter were $2.29 billion, up from $2.09 billion last year.

Analysts polled by Thomson Reuters estimate loss of $0.90 per share on revenues of $2.15 billion for the quarter.

"We finished 2018 strong, delivering improvements in rental price, volume, utilization and fleet costs for the full year as a result of targeted strategies, disciplined execution and well-placed investments," said CEO Kathryn Marinello. "We have tremendous momentum as we move into 2019 and will focus on continued revenue growth as well as productivity to drive margin expansion, while also launching our technology transformation this year."