Hertz rebounds after Q2 rev, core profit above expectations

Avis Budget

06/08/2026 17:34

** Rental car co Hertz Global's HTZ.O shares rise 10.3% to $1.72 on Thurs after qtrly rev and core profit surpass expectations
** HTZ shares on Weds hit record intraday low of $1.45 and had shed 70% YTD at market close
** Estero, Florida-based HTZ early Thurs posted Q2 rev growth of 10% yr/yr to $2.4 bln, beating consensus view of $2.28 bln, per LSEG data
** Its adj EBITDA of $81 mln in qtr came in above top end of revised guidance, and approx $60 mln modeled by analysts, as co cited strong pricing and improved operational efficiency
** On June 24, HTZ shares plunged 41% after co said unexpected softness in used-car market caused it to realize losses on vehicle sales in May, vs gains in Apr, and forecast adj EBITDA of $50-$80 mln
** Of 9 analysts covering HTZ, 6 rate the stock "hold", 3 rate "sell"; median PT of $2.33 down from $4.25 a month ago and $5 on Jun 6, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))