Hertz’ stock slides 4% premarket as revenue falls short of estimates

Hertz Global Holdings Inc.’s stock
HTZ,
-7.66%
slid 4% in premarket trade Thursday, after the car rental company’s second-quarter profit fell sharply from a year ago, while revenue fell short of estimates. The company had net income of $139 million, or 44 cents a share, for the quarter, down from $940 million, or $1.13 a share, in the year-earlier period. Adjusted per-share earnings came to 72 cents, ahead of the 64 cent FactSet consensus. Revenue rose to $2.437 billion from $2.344 billion a year ago, just below the $2.448 billion FactSet consensus. CEO Stephen Scherr said demand remained high and the company saw elevated levels of fleet utilization in the quarter. The stock has gained 17% in the year to date, while the S&P 500
SPX,
+0.57%
has gained 19%.