Hertz Global Holdings, one of America's largest car rental companies collapses on Wall Street on Election Day, losing more than half of its value. The result was not caused by either Clinton or Trump, in this case innocent, but by a negative quarterly, disappointing investors also on the outlook.
The largest US car rental group (in terms of sales) in the third quarter of the current year recorded a sharp decrease in net income from 237 million, equal to 2,60 dollars per share, to 42 million, and 49 cents .
On an adjusted basis, profit was $1,58, on revenues down 1% to $2,54 billion. Thomson Reuters analysts had forecast $2,73 in EPS and $2,59 billion in revenue.
Hertz finally revised downwards from 2,75-3,50 dollars to 51-88 cents the estimate of adjusted EPS for the year, following the devaluation of the value of the fleet.
After yesterday's rise (2,91%), US investors decide to "punish" the stock, currently hit by a veritable sales storm. On the NYSE, Hertz shares are currently down 50,6% to $17,67. The market capitalization, which has almost halved, now stands at $1,49 billion.
