Hertz Up after Upbeat Q4 Earnings and Outlook

Shares of Hertz Global (NASDAQ: HTZ) were on an upward trajectory in pre-market trading on Tuesday after the vehicle rental company reported Q4 adjusted earnings of $0.50 per diluted share, beating analysts consensus estimate of $0.46 per share.

The company clocked revenues of $2 billion, up 4% year-over-year and in-line with expectations. Looking forward, management now expects bullish travel demand to boost its earnings in FY23.

HTZ stock has tanked by more than 8% in the past year.