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Hertz Posts Net Loss in Q4, FY 2019
Results dampened by a decrease in international revenues, safety recalls, and increases in per-unit, per-month depreciation.
February 25, 2020
Photo via Depositphotos.
1 min to read
For the fourth quarter 2019, Hertz has reported total revenues of $2.3 billion, a 1% increase versus the fourth quarter 2018. Net loss attributable to Hertz Global was $118 million, compared with net loss attributable to Hertz Global of $101 million for the fourth quarter 2018.
The company reported adjusted net loss for the fourth quarter 2019 of $34 million, compared with adjusted net loss of $46 million for the fourth quarter 2018. Adjusted corporate EBITDA for the fourth quarter 2019 was $54 million versus $49 million for the same period last year.
For the full-year 2019, total revenues were $9.8 billion, a 3% increase versus 2018. Net loss attributable to Hertz Global was $58 million, compared with net loss attributable to Hertz Global of $225 million for 2018.
The company reported adjusted net income for 2019 of $168 million, compared with adjusted net loss of $14 million for 2018.
Adjusted corporate EBITDA for 2019 was $649 million versus $433 million for 2018.
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