Hertz Global Holdings’ HTZ third-quarter 2019 earnings (excluding 34 cents from non-recurring items) of $1.60 surpassed the Zacks Consensus Estimate by 12 cents. However, quarterly earnings declined from the year-ago figure. Moreover, quarterly revenues of $2,836 million were marginally short of the Zacks Consensus Estimate of $2,876.9 million. However, the top line was up 2.8% year over year, driven by an impressive performance of the U.S. Rental Car segment.Segmental PerformanceIn the quarter under review, the U.S. Rental Car segment generated revenues of $1,962 million, up 5.9% year over year. This upside can be attributed to favorable pricing and upbeat demand.Vehicle utilization decreased to 79% from 81% a year ago. Transaction days improved 5% year over year on the back of robust demand from summer leisure renters and ride-hailing drivers. Total revenue per transaction day (RPD) inched up 1%. Adjusted EBITDA for the segment were up 29% year over year to $269 million but fell short of the Zacks Consensus Estimate of $308 million.Segmental direct vehicle operating expenses inched up 2.9% to $1,099 million. Meanwhile, interest expenses increased 12.8% while selling, general and administrative expenses declined 2.3% year over year.The International Rental Car segment generated revenues of $702 million, down 4% year over year. This downside was due to decreased volumes as a result of weakness in the European market. Meanwhile, segmental revenues were flat on a constant currency basis. Vehicle utilization was flat at 80%. Segmental RPD rose 1%.Segmental direct vehicle operating costs increased marginally year over year to $386 million. Interest expenses were flat while selling, general and administrative expenses declined 7.5% year over year. Adjusted EBITDA for the segment not only declined 18% year over year to $115 million but also fell short of the Zacks Consensus Estimate of $118 million. Meanwhile, revenues from all other operations dipped 1.1% to $172 million.Hertz Global Holdings, Inc Price, Consensus and EPS Surprise Hertz Global Holdings, Inc price-consensus-eps-surprise-chart | Hertz Global Holdings, Inc QuoteBalance Sheet HighlightsThis Zacks Rank #2 (Buy) company exited the third quarter with cash and cash equivalents of $465 million compared with $1.13 billion at the end of 2018. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Restricted cash and cash equivalents at the end of the period came in at $230 million compared with $283 million at 2018 end. As of Sep 30, 2019, total debt amounted to $18.04 billion compared with $16.32 billion as of Dec 31, 2018.Upcoming ReleasesInvestors interested in the Zacks Transportation sector are awaiting third-quarter earnings reports from players like Air Lease Corp. AL, Copa Holdings CPA and Golar LNG GLNG. While Air Lease and Copa Holdings will release third-quarter results on Nov 7 and Nov 13, respectively, Golar LNG will announce the same on Nov 26.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.Click here for the 6 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Copa Holdings, S.A. (CPA): Free Stock Analysis Report Air Lease Corporation (AL): Free Stock Analysis Report Golar LNG Limited (GLNG): Free Stock Analysis Report Hertz Global Holdings, Inc (HTZ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research