The car rental company reported after the close of markets on Monday an adjusted diluted net loss for the fourth quarter of $0.55 per share on revenue of $2.3 billion, which was 10% higher from a year earlier. The average forecast of analysts was for a loss of $0.90 per share on revenue of $2.15 billion.
Shares of Hertz climbed 2.1% to $19.69 in New York trading.
"We finished 2018 strong, delivering improvements in rental price, volume, utilization and fleet costs for the full year as a result of targeted strategies, disciplined execution and well-placed investments," CEO Kathryn V. Marinello said in a statement. "We have tremendous momentum as we move into 2019.”
For the full year, total revenue was $9.5 billion, an 8% increase versus 2017. Adjusted corporate earnings before interest, tax, depreciation and amortization for 2018 was $433 million, versus $267 million for 2017.
Contact Dennis Fitzgerald at [email protected]