Hertz Q3 Earnings Preview: Revenue Decline Expected

Global car rental firm Hertz (NASDAQ: HTZ) will release its third-quarter earnings results on Tuesday morning. Last quarter, the company outperformed expectations by reporting $2.19 billion in revenue, which represented a 7.1% decrease compared to the same period last year. Despite the decline, Hertz delivered better-than-expected EBITDA and EPS results. For the current quarter, analysts project revenue of $2.40 billion, reflecting a 6.7% year-over-year drop. This would mark a steeper decline than the 4.7% decrease recorded in the year-ago quarter. Adjusted earnings are forecasted at $0.07 per share. Analyst estimates have remained largely unchanged over the past month. Among industry peers, Saia reported flat revenue but exceeded expectations by 1%, while Avis Budget Group posted a 1.1% revenue increase, beating estimates by 1.8%. Hertz shares have declined 8.6% over the past month, contrasting with generally stable stock performance across the ground transportation sector. The company's current average analyst price target stands at $4.01 compared to its recent share price of $5.12.