Hertz Shares Plummet 25% On Weak Third-quarter Earnings

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.