Hertz Global’s Upcoming Q3 Results Preview
<p>Analysts at Oppenheimer provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/HTZ'>Hertz Global Holdings, Inc. (NASDAQ:HTZ)</a> ahead of the upcoming Q3 earnings, scheduled to be released on October 27. </p>
<p>The analysts expect solid topline results and an optimistic outlook. Both the rate and demand environment have remained strong; and, airline bookings, which the analysts view as the best leading indicator for car rental demand, have remained strong. Offsetting this fundamental strength is the normalization of used car prices—e.g., down approximately 3%/2% month-over-month in Sept/Oct. </p>
<p>As a result, the analysts lowered their Q3/2022 EBITDA estimates to $581 Million/$2.25 Billion, from $605 Million/$2.3 Billion. For the same reason, the analysts harmonized 2023 EBITDA with management’s previously communicated “normalized EBITDA” of $1.5 billion, vs. Oppenheimer’s $1.76 billion. The analysts believe their estimates are conservative, as they ignore the benefits of Carvana, EVs, and Uber. The analysts reiterated their Outperform rating and $25 price target on the company’s shares.</p>

NASDAQ:HTZ