The company’s quarterly profit of $5.15 a share significantly missed analyst projections of $8.27. Revenue also saw a slight contraction, slipping 2% to $3.44 billion, even as the figure managed to edge past the $3.42 billion anticipated by Wall Street. Chief Executive Brian Choi pointed to a cooling travel environment as a primary headwind.

The Americas region, which serves as the company's largest revenue driver, saw sales dip 3% to $2.55 billion. This decline was largely attributed to a reduction in total rental days compared to the same period last year. Investors reacted sharply to the results, sending shares down 11% to $97.79 in post-market trading, extending the stock's year-to-date decline to 15%.