Hertz Global will miss the deadline to report its quarterly earnings.
Again.
In a regulatory filing on Tuesday, Hertz said it won't be able to file its quarterly report on time because it's reviewing the last three years of financial records.
From the filing:
"As a result of the ongoing nature of this review and its potential impact on the Company’s 2014 and 2015 financial results, the Company was unable to complete the Quarterly Report by the prescribed May 11, 2015 due date without undue effort and expense, and will be unable to file the Quarterly Report within the five day extension provided by Rule 12b-25(b)."
Last August, the car rental company withdrew its financial guidance for 2014, and said it would review its fiscal results from 2011 — 2013.
And then in November, Hertz said it made $87 million less than previously thought, and will restate three years worth of earnings. The company reduced its GAAP net income by 18%, 14% and 6% for fiscal 2011, 2012, and 2013 respectively.
Shares fell 8% on that news.
On Tuesday morning, shares were down less than 1%.
The stock is off 17% year-to-date and 26% over the past 12 months.
NOW WATCH: How To Drive A $300,000 Ferrari
See Also:
