With the earnings season now halfway through, the percentage of S&P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.
Hertz Global Holdings, Inc (NASDAQ:HRZ) navigates challenges with a 1.6% sales growth in Q1 FY24 to $2.08 billion. Despite a $(1.28) adjusted EPS missing estimates, analysts remain cautious. Goldman Sachs reaffirms a Sell rating, cutting the price target to $4 from $7. Concerns linger over HTZ's liquidity and fleet management, with ongoing scrutiny on First Lien Covenant compliance, especially amid a $400 million free cash flow burn projected for FY24.
https://insideevs.com/news/717612/hertz-ev-sales-2024/The whole plan, it must be said, had the best of intentions.American rental car giant Hertz saw the way the car market was going and decided to invest in building the