Global car rental company Hertz (NASDAQ:HTZ) will be reporting earnings tomorrow before market hours. Here's what investors should know.
Hertz beat analysts' revenue expectations by 1.7% last quarter, reporting revenues of $2.08 billion, up 1.6% year on year. It was a solid quarter for the company, with an impressive beat of analysts' volume estimates.
Is Hertz a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Hertz's revenue to be flat year on year at $2.46 billion, slowing from the 4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.20 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Hertz has missed Wall Street's revenue estimates four times over the last two years.
Looking at Hertz's peers in the ground transportation segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Universal Logistics delivered year-on-year revenue growth of 12%, meeting analysts' expectations, and Landstar reported a revenue decline of 10.7%, falling short of estimates by 1.8%. Universal Logistics traded down 4.4% following the results.
Read our full analysis of Universal Logistics's results here and Landstar's results here.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 9.4% on average over the last month. Hertz is up 5.2% during the same time and is heading into earnings with an average analyst price target of $4.6 (compared to the current share price of $3.81).
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