Hertz Shares Jump on Company’s Better-Than-Expected Loss

Hertz Global Holdings Inc. shares surged after the company’s second-quarter loss improved from a year ago and beat Wall Street’s expectations, a boon for management’s effort to rejuvenate the business.

The car rental company has been rotating older models out of its fleet and buying new vehicles in the first half of the year to get ahead anticipated higher costs from the Trump Administration’s tariffs on imported models and lower depreciation expense. Hertz also reduced the size of its fleet to match its rental capacity with travel demand.