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2021-11-30
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Hertz Targets $2 Billion in Buybacks Amid Pandemic Recovery<blockquote>在大流行复苏期间，赫兹的目标是回购 20 亿美元</blockquote>
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The stock has declined since relisting on Nasdaq earlier this month, but is still well above the low levels where it was trading earlier in the pandemic, when Hertzwarned shareholderstheir holdings might go to zero.</p><p><blockquote>赫兹股价周一上涨 6%。自本月早些时候在纳斯达克重新上市以来，该股一直在下跌，但仍远高于疫情早些时候的低水平，当时赫兹警告股东他们的持股可能会降至零。</blockquote></p><p> The company said that the new buyback program’s first phase will include $200 million of repurchases that were already authorized as part of the relisting.</p><p><blockquote>该公司表示，新回购计划的第一阶段将包括作为重新上市一部分已获得授权的 2 亿美元回购。</blockquote></p><p> The rest of the $2 billion program would follow completion of a deal for Hertz to buy back all of its Series A preferred shares. Those shares, mostly owned byApollo Global ManagementInc.,a private-equity firm, were issued as part of efforts to rescue Hertz from bankruptcy as the coronavirus pandemic pummeled its business. Preferred shares give owners priority for dividend payments over owners of common stock.</p><p><blockquote>20亿美元计划的其余部分将在赫兹回购其所有A系列优先股的交易完成后进行。这些股票主要由私募股权公司 Apollo Global ManagementInc. 持有，是在冠状病毒大流行重创赫兹业务之际拯救其免于破产的努力的一部分。优先股赋予所有者比普通股所有者优先支付股息。</blockquote></p><p> As travel has rebounded, Hertz has found sounder footing in recent months, with greater revenue and a return to profitability. Its path through the past two years has traced markets’ unpredictable swings from pessimism to optimism and back again as the pandemic delivered investors a steady stream of surprises.</p><p><blockquote>随着旅游业的反弹，赫兹近几个月找到了更稳固的立足点，收入增加，盈利能力恢复。在过去两年中，随着大流行病给投资者带来源源不断的惊喜，市场从悲观到乐观再到乐观的不可预测波动，它的发展轨迹一直追踪着市场从悲观到乐观的不可预测波动。</blockquote></p><p> The car-rental firm entered the pandemic bearing high levels of debt. The sudden drop in travel and an initial fall in used-car values during the spring of 2020 led Hertz to file forbankruptcy in May 2020. Shares fell to a session low of 56 cents last spring before individual traders started piling in, buying Hertz stock even though it temporarily appeared that a restructuring could wipe out equity owners.</p><p><blockquote>这家汽车租赁公司进入疫情时负债累累。2020 年春季出行量的突然下降和二手车价值的首次下降导致赫兹于 2020 年 5 月申请破产。去年春天，股价跌至 56 美分的盘中低点，随后个别交易员开始蜂拥而至，购买赫兹股票，尽管重组暂时似乎可能会消灭股权所有者。</blockquote></p><p> The New York Stock Exchange suspended trading of Hertz shares last year after the bankruptcy filing, although the stock continued to change hands in over-the-counter markets.</p><p><blockquote>纽约证券交易所去年在申请破产后暂停了赫兹股票的交易，尽管该股在场外市场继续易手。</blockquote></p><p> This year, as vaccines and abating pandemic conditions boosted travel demand, the company’sperformance improved. Revenue was $1.91 billion in the September-ended quarter, more than double Hertz’s results for the same period in 2020. Its profit was $605 million, compared with a year-earlier loss.</p><p><blockquote>今年，由于疫苗和大流行病的缓解提振了旅行需求，该公司的业绩有所改善。截至 9 月份的季度收入为 19.1 亿美元，是赫兹 2020 年同期业绩的两倍多。其利润为 6.05 亿美元，而去年同期为亏损。</blockquote></p><p> As that recovery was taking shape, institutional investors led by Apollo, Knighthead Capital Management LLC and Certares Management LLC organized a restructuring deal in May 2021 that brought Hertz out of bankruptcy while keeping shareholders in the money.</p><p><blockquote>随着复苏的形成，以 Apollo、Knighthead Capital Management LLC 和 Certares Management LLC 为首的机构投资者于 2021 年 5 月组织了一项重组交易，使赫兹摆脱了破产，同时让股东保留了资金。</blockquote></p><p> Many individual investors who bought shares near their lowsrecorded outsize gains. With Hertz’s plan to buy backApollo’s preferred shares, the private-equity firm stood to notch a 70% annualized return on its role in the restructuring.</p><p><blockquote>许多在低点附近买入股票的个人投资者录得了巨额收益。随着赫兹计划收购 backApollo 的优先股，这家私募股权公司将在重组中获得 70% 的年化回报率。</blockquote></p><p> New buybacks for common shareholders could add to returns for individual investors and other owners of Hertz shares. Buybacks boost stocks’ value because they remove shares from circulation, leaving remaining shareholders entitled to a larger portion of future profits.</p><p><blockquote>普通股股东的新回购可能会增加个人投资者和其他赫兹股票所有者的回报。回购可以提高股票的价值，因为回购可以将股票从流通中移除，使剩余股东有权获得未来利润的更大份额。</blockquote></p><p> Hertzlisted on the Nasdaqearlier this month, debuting at $29 a share, but its stock has mostly edged lower since.</p><p><blockquote>赫兹本月早些时候在纳斯达克上市，首发价格为每股 29 美元，但此后其股价大多小幅走低。</blockquote></p><p> In the past few days, concerns about thenew Omicron variantof Covid-19 have raised questions about the travel sector’s recovery, with countries adding new restrictions on some international travel to try to keep the strain at bay.</p><p><blockquote>在过去的几天里，对奥密克戎新变种 Covid-19 的担忧引发了人们对旅游业复苏的质疑，各国对一些国际旅行增加了新的限制，以试图控制这种压力。</blockquote></p><p> Hertz’s buyback plans come alongside a splashy effort by the company to invest in its fleet of rental cars by addingmore electric vehicles. Last month, Hertz said it had ordered 100,000 cars fromTeslaInc.,although recent back-and-forth between the companies has left it unclear how soon Hertz can expect to receive the cars.</p><p><blockquote>赫兹的回购计划是在该公司通过增加更多电动汽车来投资租赁车队的同时进行的。上个月，赫兹表示已从 TESLAINC 订购了 10 万辆汽车，尽管两家公司最近之间的来回谈判让赫兹预计多久能收到这些汽车尚不清楚。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hertz Targets $2 Billion in Buybacks Amid Pandemic Recovery<blockquote>在大流行复苏期间，赫兹的目标是回购 20 亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHertz Targets $2 Billion in Buybacks Amid Pandemic Recovery<blockquote>在大流行复苏期间，赫兹的目标是回购 20 亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Wall Street Journal</strong><span class=\"h-time small\">2021-11-30 08:04</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Hertz Global Holdings Inc. unveiled a plan Monday to buy back as much as $2 billion of its stock, a move that would return more capital to investors who stood by the car-rental company through its bankruptcy filing last year.</p><p><blockquote>赫兹全球控股公司 (Hertz Global Holdings Inc.) 周一公布了一项回购多达 20 亿美元股票的计划，此举将向去年支持这家汽车租赁公司申请破产的投资者返还更多资本。</blockquote></p><p> Hertz shares rose 6% on Monday. The stock has declined since relisting on Nasdaq earlier this month, but is still well above the low levels where it was trading earlier in the pandemic, when Hertzwarned shareholderstheir holdings might go to zero.</p><p><blockquote>赫兹股价周一上涨 6%。自本月早些时候在纳斯达克重新上市以来，该股一直在下跌，但仍远高于疫情早些时候的低水平，当时赫兹警告股东他们的持股可能会降至零。</blockquote></p><p> The company said that the new buyback program’s first phase will include $200 million of repurchases that were already authorized as part of the relisting.</p><p><blockquote>该公司表示，新回购计划的第一阶段将包括作为重新上市一部分已获得授权的 2 亿美元回购。</blockquote></p><p> The rest of the $2 billion program would follow completion of a deal for Hertz to buy back all of its Series A preferred shares. Those shares, mostly owned byApollo Global ManagementInc.,a private-equity firm, were issued as part of efforts to rescue Hertz from bankruptcy as the coronavirus pandemic pummeled its business. Preferred shares give owners priority for dividend payments over owners of common stock.</p><p><blockquote>20亿美元计划的其余部分将在赫兹回购其所有A系列优先股的交易完成后进行。这些股票主要由私募股权公司 Apollo Global ManagementInc. 持有，是在冠状病毒大流行重创赫兹业务之际拯救其免于破产的努力的一部分。优先股赋予所有者比普通股所有者优先支付股息。</blockquote></p><p> As travel has rebounded, Hertz has found sounder footing in recent months, with greater revenue and a return to profitability. Its path through the past two years has traced markets’ unpredictable swings from pessimism to optimism and back again as the pandemic delivered investors a steady stream of surprises.</p><p><blockquote>随着旅游业的反弹，赫兹近几个月找到了更稳固的立足点，收入增加，盈利能力恢复。在过去两年中，随着大流行病给投资者带来源源不断的惊喜，市场从悲观到乐观再到乐观的不可预测波动，它的发展轨迹一直追踪着市场从悲观到乐观的不可预测波动。</blockquote></p><p> The car-rental firm entered the pandemic bearing high levels of debt. The sudden drop in travel and an initial fall in used-car values during the spring of 2020 led Hertz to file forbankruptcy in May 2020. Shares fell to a session low of 56 cents last spring before individual traders started piling in, buying Hertz stock even though it temporarily appeared that a restructuring could wipe out equity owners.</p><p><blockquote>这家汽车租赁公司进入疫情时负债累累。2020 年春季出行量的突然下降和二手车价值的首次下降导致赫兹于 2020 年 5 月申请破产。去年春天，股价跌至 56 美分的盘中低点，随后个别交易员开始蜂拥而至，购买赫兹股票，尽管重组暂时似乎可能会消灭股权所有者。</blockquote></p><p> The New York Stock Exchange suspended trading of Hertz shares last year after the bankruptcy filing, although the stock continued to change hands in over-the-counter markets.</p><p><blockquote>纽约证券交易所去年在申请破产后暂停了赫兹股票的交易，尽管该股在场外市场继续易手。</blockquote></p><p> This year, as vaccines and abating pandemic conditions boosted travel demand, the company’sperformance improved. Revenue was $1.91 billion in the September-ended quarter, more than double Hertz’s results for the same period in 2020. Its profit was $605 million, compared with a year-earlier loss.</p><p><blockquote>今年，由于疫苗和大流行病的缓解提振了旅行需求，该公司的业绩有所改善。截至 9 月份的季度收入为 19.1 亿美元，是赫兹 2020 年同期业绩的两倍多。其利润为 6.05 亿美元，而去年同期为亏损。</blockquote></p><p> As that recovery was taking shape, institutional investors led by Apollo, Knighthead Capital Management LLC and Certares Management LLC organized a restructuring deal in May 2021 that brought Hertz out of bankruptcy while keeping shareholders in the money.</p><p><blockquote>随着复苏的形成，以 Apollo、Knighthead Capital Management LLC 和 Certares Management LLC 为首的机构投资者于 2021 年 5 月组织了一项重组交易，使赫兹摆脱了破产，同时让股东保留了资金。</blockquote></p><p> Many individual investors who bought shares near their lowsrecorded outsize gains. With Hertz’s plan to buy backApollo’s preferred shares, the private-equity firm stood to notch a 70% annualized return on its role in the restructuring.</p><p><blockquote>许多在低点附近买入股票的个人投资者录得了巨额收益。随着赫兹计划收购 backApollo 的优先股，这家私募股权公司将在重组中获得 70% 的年化回报率。</blockquote></p><p> New buybacks for common shareholders could add to returns for individual investors and other owners of Hertz shares. Buybacks boost stocks’ value because they remove shares from circulation, leaving remaining shareholders entitled to a larger portion of future profits.</p><p><blockquote>普通股股东的新回购可能会增加个人投资者和其他赫兹股票所有者的回报。回购可以提高股票的价值，因为回购可以将股票从流通中移除，使剩余股东有权获得未来利润的更大份额。</blockquote></p><p> Hertzlisted on the Nasdaqearlier this month, debuting at $29 a share, but its stock has mostly edged lower since.</p><p><blockquote>赫兹本月早些时候在纳斯达克上市，首发价格为每股 29 美元，但此后其股价大多小幅走低。</blockquote></p><p> In the past few days, concerns about thenew Omicron variantof Covid-19 have raised questions about the travel sector’s recovery, with countries adding new restrictions on some international travel to try to keep the strain at bay.</p><p><blockquote>在过去的几天里，对奥密克戎新变种 Covid-19 的担忧引发了人们对旅游业复苏的质疑，各国对一些国际旅行增加了新的限制，以试图控制这种压力。</blockquote></p><p> Hertz’s buyback plans come alongside a splashy effort by the company to invest in its fleet of rental cars by addingmore electric vehicles. Last month, Hertz said it had ordered 100,000 cars fromTeslaInc.,although recent back-and-forth between the companies has left it unclear how soon Hertz can expect to receive the cars.</p><p><blockquote>赫兹的回购计划是在该公司通过增加更多电动汽车来投资租赁车队的同时进行的。上个月，赫兹表示已从 TESLAINC 订购了 10 万辆汽车，尽管两家公司最近之间的来回谈判让赫兹预计多久能收到这些汽车尚不清楚。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/hertz-targets-2-billion-in-buybacks-amid-pandemic-recovery-11638205059?siteid=yhoof2\">Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.wsj.com/articles/hertz-targets-2-billion-in-buybacks-amid-pandemic-recovery-11638205059?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122205622","content_text":"Hertz Global Holdings Inc. unveiled a plan Monday to buy back as much as $2 billion of its stock, a move that would return more capital to investors who stood by the car-rental company through its bankruptcy filing last year.\nHertz shares rose 6% on Monday. The stock has declined since relisting on Nasdaq earlier this month, but is still well above the low levels where it was trading earlier in the pandemic, when Hertzwarned shareholderstheir holdings might go to zero.\nThe company said that the new buyback program’s first phase will include $200 million of repurchases that were already authorized as part of the relisting.\nThe rest of the $2 billion program would follow completion of a deal for Hertz to buy back all of its Series A preferred shares. Those shares, mostly owned byApollo Global ManagementInc.,a private-equity firm, were issued as part of efforts to rescue Hertz from bankruptcy as the coronavirus pandemic pummeled its business. Preferred shares give owners priority for dividend payments over owners of common stock.\nAs travel has rebounded, Hertz has found sounder footing in recent months, with greater revenue and a return to profitability. Its path through the past two years has traced markets’ unpredictable swings from pessimism to optimism and back again as the pandemic delivered investors a steady stream of surprises.\nThe car-rental firm entered the pandemic bearing high levels of debt. The sudden drop in travel and an initial fall in used-car values during the spring of 2020 led Hertz to file forbankruptcy in May 2020. Shares fell to a session low of 56 cents last spring before individual traders started piling in, buying Hertz stock even though it temporarily appeared that a restructuring could wipe out equity owners.\nThe New York Stock Exchange suspended trading of Hertz shares last year after the bankruptcy filing, although the stock continued to change hands in over-the-counter markets.\nThis year, as vaccines and abating pandemic conditions boosted travel demand, the company’sperformance improved. Revenue was $1.91 billion in the September-ended quarter, more than double Hertz’s results for the same period in 2020. Its profit was $605 million, compared with a year-earlier loss.\nAs that recovery was taking shape, institutional investors led by Apollo, Knighthead Capital Management LLC and Certares Management LLC organized a restructuring deal in May 2021 that brought Hertz out of bankruptcy while keeping shareholders in the money.\nMany individual investors who bought shares near their lowsrecorded outsize gains. With Hertz’s plan to buy backApollo’s preferred shares, the private-equity firm stood to notch a 70% annualized return on its role in the restructuring.\nNew buybacks for common shareholders could add to returns for individual investors and other owners of Hertz shares. Buybacks boost stocks’ value because they remove shares from circulation, leaving remaining shareholders entitled to a larger portion of future profits.\nHertzlisted on the Nasdaqearlier this month, debuting at $29 a share, but its stock has mostly edged lower since.\nIn the past few days, concerns about thenew Omicron variantof Covid-19 have raised questions about the travel sector’s recovery, with countries adding new restrictions on some international travel to try to keep the strain at bay.\nHertz’s buyback plans come alongside a splashy effort by the company to invest in its fleet of rental cars by addingmore electric vehicles. Last month, Hertz said it had ordered 100,000 cars fromTeslaInc.,although recent back-and-forth between the companies has left it unclear how soon Hertz can expect to receive the cars.","news_type":1,"symbols_score_info":{"HTZGQ":0.9}},"isVote":1,"tweetType":1,"viewCount":4160,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/609913440"}
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