Hertz posts 2Q profit of $23 million, result misses forecasts

MarketsAssociated Press

Hertz Global Holdings Inc. (HTZ) on Monday reported second-quarter net income of $23 million.

On a per-share basis, the Naples, Florida-based company said it had profit of 5 cents. Earnings, adjusted for non-recurring costs, came to 19 cents per share.

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The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.

The car rental company posted revenue of $2.69 billion in the period.

Hertz shares have decreased 31 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.12, a fall of 37 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HTZ at http://www.zacks.com/ap/HTZ

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Keywords: Hertz, Earnings Report