Earnings summaries and quarterly performance for HERTZ GLOBAL HOLDINGS.
Executive leadership at HERTZ GLOBAL HOLDINGS.
Wayne “Gil” West
Detailed
Chief Executive Officer
CEO
CG
Christopher G. Berg
Detailed
Executive Vice President and Chief Administrative Officer
MK
Mark Kosman
Detailed
Senior Vice President, Chief Accounting Officer
SD
Sandeep Dube
Detailed
Executive Vice President and Chief Commercial Officer
SH
Scott Haralson
Detailed
Executive Vice President and Chief Financial Officer
Board of directors at HERTZ GLOBAL HOLDINGS.
AS
Andrew Shannahan
Detailed
Director
CF
Colin Farmer
Detailed
Chair of the Board
EV
Evangeline Vougessis
Detailed
Director
FS
Francis S. Blake
Detailed
Director
JF
Jennifer Feikin
Detailed
Director
LC
Lucy Clark Dougherty
Detailed
Director
MF
Mark Fields
Detailed
Director
MG
Michael Gregory O’Hara
Detailed
Director
TW
Thomas Wagner
Detailed
Vice Chair of the Board
VJ
Vincent J. Intrieri
Detailed
Director
Research analysts who have asked questions during HERTZ GLOBAL HOLDINGS earnings calls.
Chris Woronka
Deutsche Bank AG
6 questions for HTZ
Also covers: CAR, DRH, FUN +13 more
Dan Levy
Barclays PLC
6 questions for HTZ
Also covers: ADNT, ALV, APTV +15 more
JH
John Healy
Northcoast Research
5 questions for HTZ
Also covers: ACVA, CAR, CPRT +9 more
RB
Ryan Brinkman
JPMorgan Chase & Co.
4 questions for HTZ
Also covers: AXL, BWA, CAR +8 more
IZ
Ian Zaffino
Oppenheimer & Co. Inc.
3 questions for HTZ
Also covers: ACA, ALSN, ARMK +21 more
John Babcock
Bank of America
3 questions for HTZ
Also covers: ABG, AN, CAR +12 more
Stephanie Moore
Jefferies
3 questions for HTZ
Also covers: APG, ARCB, ARMK +30 more
Chris Stathoulopoulos
Susquehanna
2 questions for HTZ
Also covers: AER, CAR, CCL +4 more
Christopher Stathoulopoulos
Susquehanna Financial Group
2 questions for HTZ
Also covers: AAL, AER, ALGT +9 more
ED
Elizabeth Dove
Goldman Sachs
1 question for HTZ
Also covers: ARMK, CAR, CCL +12 more
Federico Merendi
Bank of America
1 question for HTZ
Also covers: ABG, AXL, F +6 more
Isaac Sellhausen
Oppenheimer & Co. Inc.
1 question for HTZ
Also covers: ALSN, ATSG, CCSI +10 more
JB
Josh Baba
JPMorgan Chase & Co.
1 question for HTZ
LD
Lizzie Dove
Goldman Sachs
1 question for HTZ
Also covers: CAR, CCL, CHH +13 more
SV
Stefan Vogel
Jefferies
1 question for HTZ
Recent press releases and 8-K filings for HTZ.
Hertz Global Holdings Reports Q4 2025 Results and Provides 2026-2027 Outlook
HTZ
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Hertz Global Holdings reported Q4 2025 revenue of $2.0 billion, its strongest in nearly two years, despite a 3% smaller fleet, and an Adjusted EBITDA of negative $200 million, representing a $150 million year-over-year improvement.
- Q4 2025 results were significantly impacted by over $100 million in external headwinds, including elevated recall volumes that took over 20,000 cars out of service and an unfavorable residual value environment, leading to a $60 million non-cash depreciation charge.
- For the full year 2025, the company achieved an Adjusted EBITDA improvement of more than $1 billion year-over-year, the lowest average fleet age in almost a decade, and a nearly 50% improvement in customer satisfaction.
- Hertz anticipates Q1 2026 revenue to be up mid-single digits year-over-year and maintains its full-year 2026 Adjusted EBITDA margin guidance of 3%-6%. The company targets $1 billion in Adjusted EBITDA for 2027.
- The company expects liquidity to dip below $1 billion by the end of Q2 2026 before ending the year well north of $1 billion, supported by planned liquidity enhancements.
Feb 26, 2026, 2:00 PM
Hertz Global Holdings Reports Q4 2025 Results and Maintains 2026 Guidance
HTZ
Earnings
Guidance Update
New Projects/Investments
- Hertz Global Holdings reported Q4 2025 revenue of $2.0 billion and a negative Adjusted EBITDA of approximately $200 million, representing a $150 million year-over-year improvement. For the full year 2025, Adjusted EBITDA improved by more than $1 billion year-over-year.
- The company maintained its full-year 2026 Adjusted EBITDA margin guidance in the 3%-6% range and expects to keep Depreciation Per Unit (DPU) below $300 per unit.
- Q4 2025 results were impacted by over $100 million in external headwinds, including a $60 million non-cash depreciation charge due to residual value adjustments and $20 million in additional costs from elevated recalls.
- Hertz is progressing with its "Back-to-Basics" strategy, which led to a nearly 50% improvement in customer satisfaction in 2025, and is expanding its platform beyond traditional rental car into service, fleet, and mobility, targeting $1 billion in Adjusted EBITDA by 2027.
Feb 26, 2026, 2:00 PM
Hertz Global Holdings Reports Q4 2025 Financial Results
HTZ
Earnings
Debt Issuance
- Hertz Global Holdings reported flat revenue of $2.0 billion for Q4 2025 compared to Q4 2024.
- The company's Adjusted Corporate EBITDA improved by 43%, moving from a loss of $(357) million in Q4 2024 to $(205) million in Q4 2025.
- Adjusted Free Cash Flow decreased to $(395) million in Q4 2025, compared to $(332) million in Q4 2024, primarily driven by higher net fleet capital expenditures.
- Key operational metrics showed mixed results: Depreciation Per Unit (DPU) improved by 21% to $330 in Q4 2025 , while Total Revenue Per Day (RPD) was $55.67, showing sequential improvement on a year-over-year basis in 2025. Vehicle utilization decreased to 78% in Q4 2025 from 79% in Q4 2024.
- Hertz maintained a liquidity position of $1.5 billion as of December 31, 2025, which included $0.6 billion of unrestricted cash and $0.9 billion available under its First Lien RCF.
Feb 26, 2026, 2:00 PM
Hertz Global Holdings Reports Q4 2025 Results and Provides 2026 Outlook
HTZ
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Hertz Global Holdings reported Q4 2025 revenue of $2.0 billion, surpassing consensus expectations, with RPD nearly flat year-over-year after adjusting for loyalty gains. Adjusted EBITDA for the quarter was a negative approximately $200 million, representing a $150 million year-over-year improvement but still $100 million below target due to vehicle carrying costs and depreciation adjustments.
- The company ended Q4 2025 with approximately $1.5 billion in total liquidity, which reduced to just under $1.2 billion after a $346 million payment in January 2026. Liquidity is expected to reach a low point below $1 billion by the end of Q2 2026 before improving, with potential liquidity enhancements exceeding $500 million.
- For Q1 2026, Hertz anticipates revenue to increase by mid-single digits year-over-year and expects an Adjusted EBITDA margin in the negative high single-digit to low double-digit range. The full-year 2026 Adjusted EBITDA margin guidance is maintained at 3%-6%, with a target of $1 billion Adjusted EBITDA in 2027.
- Operational improvements include a nearly 50% year-over-year increase in Net Promoter Score and positive year-over-year RPD for airports in the Americas in Q4. Strategic growth areas for 2026 include off-airport locations and the double-digit growing mobility business, alongside an omni-channel transformation of Hertz Car Sales.
Feb 26, 2026, 2:00 PM
Hertz Global Holdings, Inc. Reports Q4 and Full Year 2025 Results
HTZ
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Hertz Global Holdings, Inc. reported $2.0 billion in revenue for Q4 2025 and $8.5 billion for full-year 2025, reflecting sequential improvement in pricing and the strongest year-over-year revenue performance since Q1 2024. The company anticipates mid-single digit revenue growth in Q1 2026.
- Profitability improved by more than $2 billion year-over-year, with a net loss totaling $194 million in Q4 2025 and $747 million for the full year 2025. Diluted EPS was $(0.72) for Q4 2025 and $(2.43) for the full year.
- Adjusted Corporate EBITDA for Q4 2025 was $(205) million, an improvement of approximately $150 million year-over-year, and $(339) million for the full year, an improvement of more than $1 billion year-over-year.
- Operational metrics showed improvement, with utilization at 78% in Q4 2025 and an average of 81% for the full year, a 200 basis point year-over-year increase. Depreciation per Unit per Month (DPU) improved by 44% year-over-year, reaching $330 in Q4 2025 and $300 for the full year.
- The company ended Q4 2025 with approximately $1.5 billion of liquidity.
Feb 26, 2026, 1:23 PM
Hertz Global Holdings Reports Q4 and Full-Year 2025 Results
HTZ
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Hertz Global Holdings reported revenue of $2.0 billion for Q4 2025 and $8.5 billion for full-year 2025.
- The company posted a net loss of $(194) million in Q4 2025 and $(747) million for the full year, with diluted EPS of $(0.72) and $(2.43) respectively.
- Adjusted Corporate EBITDA for Q4 2025 was $(205) million and $(339) million for the full year, reflecting year-over-year improvements of approximately $150 million and more than $1 billion, respectively.
- Hertz anticipates mid-single digit revenue growth for Q1 2026 and ended Q4 2025 with approximately $1.5 billion of liquidity.
Feb 26, 2026, 1:16 PM
Hertz Vehicle Financing III LLC Issues $550 Million in Asset-Backed Notes
HTZ
Debt Issuance
New Projects/Investments
- Hertz Vehicle Financing III LLC, as Issuer, and The Hertz Corporation, as Administrator, issued $550,000,000 in Series 2025-6 Rental Car Asset Backed Notes on December 5, 2025.
- The issuance includes Class A notes totaling $376,750,000 at 4.89%, Class B notes totaling $55,000,000 at 5.14%, Class C notes totaling $74,250,000 at 5.82%, and Class D notes totaling $44,000,000 at 8.30%.
- The Expected Final Payment Date for the Series 2025-6 Notes is May 2031, and the Legal Final Payment Date is May 2032.
Dec 5, 2025, 9:05 PM
Hertz Global Holdings Reports Q3 Net Income
HTZ
Earnings
Revenue Acceleration/Inflection
- Hertz Global Holdings reported its first quarterly profit in over two years, with a net income of $184 million.
- The company generated $2.5 billion in quarterly revenue and $190 million in adjusted corporate EBITDA, attributing the success to improved operational efficiency, a younger vehicle fleet, and reduced depreciation costs.
- Following the positive earnings report, Hertz's shares surged more than 38.26% to $6.83.
- Despite this positive momentum, Hertz stock maintains a consensus Moderate Sell rating from Wall Street analysts, with an average price target suggesting a 39.16% downside from current levels.
Nov 4, 2025, 5:25 PM
Hertz Reports Positive Q3 2025 EPS, Updates Q4 Guidance, and Outlines 2026 Growth Plans
HTZ
Earnings
Guidance Update
New Projects/Investments
- Hertz (HTZ) reported Q3 2025 revenue of $2.5 billion and adjusted corporate EBITDA of $190 million, achieving positive EPS for the first time in two years.
- The company completed its transformative fleet refresh, resulting in an average fleet age under 12 months and a record high utilization rate since 2018 of over 84%.
- Hertz is strategically expanding its Car Sales business, with its rent-to-buy program converting 70% of customers and a long-term goal to sell the majority of vehicles through e-commerce retail.
- For Q4 2025, Hertz updated its guidance to a slightly negative margin range of negative low- to mid-single-digits EBITDA margin, partly due to $10-$20 million in lost revenue from external system outages. The company anticipates growing its fleet again in 2026, with specific growth targets for its on-airport, off-airport, and emerging mobility segments.
Nov 4, 2025, 2:00 PM
Hertz Global Reports Q3 2025 Results
HTZ
Earnings
- Hertz Global reported revenues of $2,478 million and a net income of $184 million for the third quarter of 2025.
- The company achieved an Adjusted Corporate EBITDA of $190 million , resulting in an 8% Adjusted Corporate EBITDA Margin.
- Adjusted free cash flow for Q3 2025 was $248 million.
- Key operational metrics for the quarter included Vehicle Utilization of 84% , Total Revenue Per Transaction Day (RPD) of $59.26 , and Depreciation Per Unit Per Month (DPU) of $273.
Nov 4, 2025, 2:00 PM
Quarterly earnings call transcripts for HERTZ GLOBAL HOLDINGS.
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