Hertz Lowers Q2 EBITDA Guidance, Announces $400M Capital Plan; Shares Plunge in Pre-Market
Hertz Global Holdings cut its second-quarter Adjusted Corporate EBITDA forecast and disclosed plans to raise capital via a $100 million share-lending equity sale and a $300 million private note issuance. The company said losses on vehicle sales in May offset April gains, pushing its expected net depreciation per unit to about $300 for the quarter. …