Hertz says it lost another $195M from EV bet [FOX Business Network]
Hertz Global Holdings, Inc (HTZ)
Last hertz global holdings, inc earnings: 2/24 04:05 pm
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Source: FOX Business Network
Hertz said Thursday that the rental car giant's failed investment in an electric vehicle fleet continues to be an expensive mistake, reporting it lost another $195 million last quarter in depreciation value from writing off the remaining EVs the company has held for sale. The company's total losses were $588 million, greater than Wall Street expectations. The news sent shares down more than 24% on Thursday. The stock pared some losses on Friday. Ticker Security Last Change Change % HTZ HERTZ GLOBAL Powered By Hertz Global Holdings, Inc. In the previous quarter, Hertz announced its biggest quarterly loss since 2020 after its decision to pivot away from EVs. Hertz bet big on EVs in 2021, announcing it would invest in acquiring 100,000 Teslas to help build its EV fleet . But the rental car firm reversed course early this year due to low customer demand, saying it would unload tens of thousands of EVs and return to gas-powered vehicles. The company said Friday i
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HTZ
News
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Hertz Global Holdings, Inc. - HTZPR Newswire
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Hertz Global Holdings, Inc. - HTZAccesswire
- CEO & Director of Hertz Global Holdings Wayne West Buys 13% More Shares [Yahoo! Finance]Yahoo! Finance
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Hertz Global Holdings, Inc. - HTZGlobeNewswire
- Yahoo Finance [Yahoo! Finance]Yahoo! Finance
HTZ
Earnings
- 4/25/24 - Miss
HTZ
Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- HTZ's page on the SEC website