Hertz Throws Earnings Into Reverse, Restates Financials

Now watching

Next video starts in : 7 Play

Hertz Throws Earnings Into Reverse, Restates Financials

Hertz Throws Earnings Into Reverse, Restates Financials
Replay video
Up next

Watch a Sneak Peek of Community Episode 4

Unlock your personal NFL Now stream by signing in to NFL.com

Hertz Throws Earnings Into Reverse, Restates Financials

by TheStreet.com Videos 1:44 mins

Hertz Throws Earnings Into Reverse, Restates Financials

by TheStreet.com Videos 1:44 mins

Hertz was set to report earnings on Monday, but instead the rental car giant is delaying the results due to accounting problems. Independent auditor PricewaterhouseCoopers found problems in the 2011 earnings that need to be restated, and as a result 2012 and 2013 will need to be corrected. Hertz also said that when it does report its first quarter, the numbers will be below analysts' estimates. Hertz tried to put a positive spin on the second quarter, but that's a traditionally soft quarter. The stock, which has performed well so far this year, is getting pummeled after the announcement.

Must Watch

Must Watch

  1. 0:29

    Watch a Sneak Peek of Community Episode 4

  2. 1:34

    Season Five Finale of 'The Walking Dead' Answers Burning Questions

  3. 3:17

    Weekend Update: Willie

  4. 24:40

    Community Episode 3: Basic Crisis Room Decorum

  5. 2:18

    The Rock and Ronda Rousey at Wrestlemania 31

  6. 22:03

    Sin City Saints Episode 1: The Fool Monty

Community

  1. 27:26

    Community Episode 1: Ladders

  2. 27:26

    Community Episode 2: Lawnmower Maintenance and Postnatal Care

  3. 24:40

    Community Episode 3: Basic Crisis Room Decorum

  4. 0:29

    Watch a Sneak Peek of Community Episode 4

  5. 2:01

    Sin City Saints: Official Trailer