Hertz Shares Plummet 25% On Weak Third-quarter Earnings

By Sue Chang Markets MarketWatch Pulse

Shares of Hertz Global Holdings Inc. skidded in Monday's extended session after the car rental company posted disappointing earnings. Hertz reported its third-quarter earnings fell to $42 million, or 49 cents a share, from $237 million, or $2.60 a share, a year earlier. On an adjusted basis, the company would have earned $1.58 a share. Revenue slipped 1% to $2.54 billion. Analysts surveyed by FactSet had forecast earnings of $2.73 a share on revenue of $2.59 billion. In the fourth quarter, Hertz expects adjusted earnings per share of 51 cents to 88 cents. Shares of Hertz fell 25% after hours.

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