Hertz Global Holdings HTZ shares are trading lower after the company reported worse-than-expected fourth-quarter sales results.
The company reported fourth-quarter losses of 24 cents per share on Monday, which beat the analyst consensus estimate by 3 cents.
The company reported quarterly sales of $2.326 billion, which missed the analyst consensus estimate of $2.34 billion. This is a 1.39% increase over sales of $2.294 billion the same period last year.
"Our latest results reflect 10 straight quarters of year-over-year revenue growth and nine consecutive quarters of year-over-year adjusted corporate EBITDA growth," said Kathryn Marinello, Hertz's CEO. "We are leveraging our existing capabilities to drive new revenue opportunities and continuing our focus on operational efficiencies to ensure sustainable earnings improvement over the long-term."
Hertz Global shares were trading down 3% to $18.75 at time of publication. The stock has a 52-week high of $21.95 and a 52-week low of $11.24.
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