Stock Track | Herc Holdings Plummets 8.99% in Early Trading After Q4 Revenue Miss and Soaring Interest Costs
Stock Track
Feb 17
Herc Holdings Inc. (HRI) stock plummeted 8.99% in early trading on Tuesday, following the release of its fourth-quarter financial results.
The equipment rental company reported Q4 revenue of $1.21 billion, which fell short of the analyst consensus estimate of approximately $1.25 billion. While adjusted earnings per share of $2.07 beat expectations, it represented a significant decline from $3.58 per share in the same quarter last year.
Further pressure on investor sentiment came from a reported 100% increase in quarterly interest expense to $134 million. The combination of a revenue miss, a sharp year-over-year drop in adjusted earnings, and a substantial rise in financing costs drove the negative market reaction.
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