Hertz Global (HTZ) ockets 36% on Q3 Blowout

We recently published 10 Firms Stealing Market Spotlight Amid Bloodbath. Hertz Global Holdings, Inc. (NASDAQ:HTZ) is one of the best-performing on Tuesday.

Hertz Global saw its share prices jump by 36.23 percent on Tuesday to close at $6.73 apiece following an impressive earnings performance in the third quarter of the year.

In an updated report, Hertz Global Holdings, Inc. (NASDAQ:HTZ) said it swung to a net income of $184 million from a $1.3 billion net loss in the same period last year.

Adjusted EBITDA stood at $43 million, reversing a loss of $208 million in the same comparable period, primarily driven by its disciplined operational execution and improved fleet economics.

Revenues, however, were down by 4 percent to $2.48 billion from $2.58 billion year-on-year.

“This quarter proves that we’re delivering on our commitments: driving strong results through focused execution and operational discipline,” said Hertz Global Holdings, Inc. (NASDAQ:HTZ) CEO Gil West.

“Throughout this transformation, we’re rebuilding our foundation while sharpening our skills and capabilities, creating a new platform for growth. Our progress is meaningful, our heads are down, but our eyes are on the horizon as we build a company that can thrive across the full spectrum of mobility,” he noted.

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Disclosure: None. This article is originally published at Insider Monkey.