Cars are parked near Hertz car rental signage at John F. Kennedy International Airport in Queens, New York City, U.S., March 30, 2022. REUTERS/Andrew Kelly/File Photo
The Estero, Florida-based company said it took a $588 million hit in vehicle depreciation costs during the quarter, of which $195 million was related to EVs held for sale. Excluding items, Hertz reported a loss of $1.28 per share, well above Wall Street's expectations of a loss of 44 cents per share.
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