UPDATE: Hertz Posts Q4 Loss, Issues Strong 2013 Forecast
Hertz Global Holdings (NYSE: HTZ) posted a loss in the fourth quarter.
For the year, Hertz projects earnings of $1.82 to $1.92 per share on revenue of $10.85 billion to $10.95 billion. However, analysts projected a profit of $1.78 per share on revenue of $10.79 billion.
Hertz posted a quarterly loss of $36.4 million, or $0.09 per share, versus a year-ago profit of $47.1 million, or $0.11 per share. Excluding one-time items, Hertz's earnings rose to $0.33 from $0.24 per share.
Its revenue rose 15% to $2.32 billion. However, analysts were expecting earnings of $0.31 per share on revenue of $2.27 billion.
Hertz shares closed at $18.73 on Friday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.