Hertz Global (HTZ) Zooms Past 28% on Q3 Blowout

We recently published 10 Stocks Soaring Past Expectations. Hertz Global Holdings, Inc. (NASDAQ:HTZ) is one of the big names that led last week’s charge.

Hertz Global saw its share prices soar by 28.26 percent week-on-week as investors took path from an impressive earnings performance in the third quarter of the year.

The company earlier this week reported a profit of $184 million in the third quarter of the year, reversing a $1.3 billion net loss in the same period last year.

Adjusted EBITDA stood at $43 million, swinging from a loss of $208 million in the same comparable period, primarily driven by its disciplined operational execution and improved fleet economics.Hertz Global (HTZ) Zooms Past 28% on Q3 Blowout

Pixabay/Public Domain

On the other hand, revenues were down by 4 percent to $2.48 billion from $2.58 billion year-on-year.

“This quarter proves that we’re delivering on our commitments: driving strong results through focused execution and operational discipline,” said Hertz Global Holdings, Inc. (NASDAQ:HTZ) CEO Gil West.

“Throughout this transformation, we’re rebuilding our foundation while sharpening our skills and capabilities, creating a new platform for growth. Our progress is meaningful, our heads are down, but our eyes are on the horizon as we build a company that can thrive across the full spectrum of mobility,” he noted.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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