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Tuesday, May 17, 2022

Hertz Inc. [NYSE: HTZ] Agrees To Pay $650 Million To Lender To Resolve Fight Over Fleet Reduction

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Hertz Global Holdings Inc. [NYSE: HTZ] announced Friday that it has finally reached an agreement with its lender to resolve a bankruptcy court fight over its decision to decrease its leased fleet of rental cars. Hertz Inc. will pay $650 million in cash in equal monthly installment from July to December.

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Hertz has also decided to get rid of at least 182, 521 leased vehicles between June and December. The company has filed for bankruptcy in May after it bears loss because of the coronavirus pandemic.

Shares of Hertz Inc. exhibited a change of 4.02% during the trading of Friday. It has a day low and high range of 1.60-1.82, respectively. In the past 52-weeks of trading, this company has recorded the 52-weeks low range of $0.40 and a high range of $20.85, respectively.

Right now this company has reported the total market capitalization of 231.21 million. It has a gross margin of 43.10%, an operating margin of 5.50%, and a profit margin of -2.80%.

If we look at its profitability, this company has a return on assets (ROA) of -1.00%, return on equity (ROE) of -17.90% an return on investment (ROI) of 4.00%. It has recorded sales of 9.60 billion.

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