Hertz Global Holdings, Inc. (HTZ) stock surged 8.10% in pre-market trading on Tuesday, following the release of its impressive third-quarter financial results. The car rental giant reported a significant turnaround, marking a return to profitability and exceeding analyst expectations on several key metrics.

For the third quarter, Hertz posted earnings per share (EPS) of $0.42, with adjusted EPS coming in at $0.12, double the $0.06 estimated by analysts. The company's revenue reached $2,478 million, surpassing the forecasted $2,424 million. Hertz also reported a net income of $184 million and an adjusted net income of $43 million, slightly below the estimated $45.7 million.

The strong performance was attributed to Hertz's ongoing transformation efforts, which have led to record utilization rates. The company achieved an adjusted EBITDA margin of 8%, reflecting improved operational efficiency. Stephen Scherr, Hertz's CEO, stated, "Our transformation is driving record utilization and a return to EPS profitability, positioning Hertz for sustainable growth in the evolving mobility landscape."