Financial Data and Key Metrics Changes - The preliminary vote report indicates that all director nominees have been elected for a three-year term, and the appointment of Ernst and Young LLP as the independent auditor for the fiscal year ending December 31, 2025, has been ratified [13] Business Line Data and Key Metrics Changes - No specific data or metrics related to individual business lines were discussed during the meeting [11] Market Data and Key Metrics Changes - No specific market data or metrics were provided in the meeting [11] Company Strategy and Development Direction and Industry Competition - The company continues to focus on maintaining strong governance through the election of directors and the appointment of independent auditors, which reflects its commitment to transparency and accountability [9][10] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting [11] Other Important Information - The meeting was conducted virtually, and a quorum was established with proxies representing more than 50% of the company's outstanding shares present [6] Summary of Q&A Session Question: Were there any questions relevant to matters to be voted on at today's meeting? - There were no questions relevant to the matters to be voted on at the meeting [11]

JPMorgan analyst Ryan Brinkman reiterated the Underweight rating on Hertz Global Holdings, Inc HTZ on Wednesday.Brinkman suggests that while rental car firms like Hertz may have structurally enhanced earnings through better pricing strategies and partnerships with companies such as American Express Global Business Travel, Tripadvisor, Uber and Carvana, previous forecasts likely overestimated the durability of company-specific earnings drivers.Instead, much of the recent strength appears to have stemmed from ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

DETROIT — Shares of Hertz Global plummeted Tuesday morning after the embattled rental car company reported disappointing first-quarter earnings and a $250 million stock offering.Hertz shares were off more than 20% during early morning trading before leveling to be off about 15% to 18% toward the end of the company's Tuesday morning quarterly earnings call that wrapped around 10:10 a.m. ET.Shares of the company were only off roughly 3% heading into the call, following the company's report that came out after ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $1.8 billion, with adjusted EBITDA showing a loss of $325 million, an improvement from a loss of $567 million in the prior year, resulting in a 9% margin improvement year over year [33] - Depreciation per unit (DPU) for the quarter was $353, a 45% decrease year over year, with expectations to drop below $300 in Q2 2025 [35][36] - Direct operating expenses (DOE) per day decreased by 4% quarter over quarter and 1% year over year on a volume-adjusted basis [36] Business Line Data and Key Metrics Changes - The fleet was down 8% year over year, with a focus on tighter fleet management to capitalize on strong residual values [24][44] - Retail car sales achieved record performance, positively impacting depreciation per unit [18] - The company is prioritizing retail as the primary car selling channel, enhancing net margins through better management of reconditioning costs [19] Market Data and Key Metrics Changes - Overall demand remains solid, particularly in leisure segments, while corporate and government segments are experiencing moderation [27][64] - The average selling price through the retail channel strengthened in March, indicating a positive trend in the retail market [18] - The MMR Rental Car Index for April was up 8%, reflecting rising residual values in the wholesale market [58] Company Strategy and Development Direction - The company is focused on disciplined fleet management, revenue optimization, and rigorous cost management as part of its transformation strategy [9][22] - The strategy includes a shift towards a younger fleet, with over 70% of the core U.S. RAC fleet now 12 months old or newer [11] - The company aims to leverage technology partnerships to enhance fleet management and customer experience [20][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledges potential macroeconomic headwinds but remains confident in the company's ability to navigate uncertainties [15][22] - The company expects to achieve a full-year EBITDA margin in the low single digits, with a target of over $1 billion in EBITDA by 2026 [45][46] - Management is optimistic about the future, citing strong demand in leisure and the potential for rising residual values [48] Other Important Information - The company amended its revolving credit facility, extending the maturity date and maintaining access to $2 billion until June 2026 [38] - The company is pursuing various transactions to optimize liquidity, including an ATM equity offering to start deleveraging [42][41] Q&A Session Summary Question: Can you discuss the fleet situation and residual values? - Management indicated that while there was temporary overfleeing at the local market level, overall fleet management remains tight, with a focus on optimizing pricing and utilization [54][55] - Residual values are rising, with retail sales skewed towards higher residuals, and the wholesale market showing quick increases [58] Question: How is demand geographically and what is the impact of seasonality? - Demand is moderating in corporate and government segments, but leisure bookings are up year over year, with normal seasonal demand expected as summer approaches [64] Question: What are the fleet activities in April and May? - The company continues to take deliveries throughout the year, with a focus on model year 2025 vehicles and maintaining flexibility in fleet management [68] Question: How do you balance cost-cutting with revenue generation? - Management emphasized the importance of customer experience alongside cost control, noting improvements in Net Promoter Scores and the use of technology to enhance service [75][78] Question: What is the outlook for depreciation and fleet value? - The company expects DPU to remain below $300, with rising residual values contributing positively to fleet economics [101][103]

Hertz Global (HTZ) Q1 2025 Earnings Call May 13, 2025 09:00 AM ET Speaker0 Welcome to Hertz Global Holdings First Quarter twenty twenty five Earnings Call. Currently, all lines are in listen only mode. Following management's commentary, we will conduct a question and answer session. I would like to remind you that this morning's call is being recorded by the company. I would now like to turn the call over to our host, Johan Walensen, Vice President of Investor Relations. Please go ahead. Speaker1 Good morni ...

HERTZ GLOBAL HOLDINGS, INC. Q1 2025 EARNINGS PRESENTATION IMPORTANT DISCLOSURES FORWARD-LOOKING STATEMENTS Certain statements made within this presentation contain forward-looking statements. Forward-looking statements are not guarantees of future performance and by their nature are subject to inherent uncertainties. Actual results may differ materially. Any forward-looking information relayed in this presentation speaks only as of May 13, 2025, and Hertz Global Holdings, Inc. ("Hertz Global" or the "Compan ...

Group 1 - Hertz Global Holdings, Inc. reported $1.81 billion in revenue for the quarter ended March 2025, a year-over-year decline of 12.8% [1] - The EPS for the same period was -$1.12, an improvement from -$1.28 a year ago [1] - The reported revenue was below the Zacks Consensus Estimate of $2.02 billion, resulting in a surprise of -10.43% [1] Group 2 - Key metrics indicate that shares of Hertz Global have returned +72.8% over the past month, outperforming the Zacks S&P 500 composite's +3.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3] Group 3 - In the Americas RAC segment, transaction days were 27,758, below the average estimate of 29,796 days [4] - The total revenue per day (RPD) for the Americas RAC was $53.68, compared to the average estimate of $56.69 [4] - The average number of vehicles in the Americas RAC was 413,381, lower than the estimated 425,709 [4] Group 4 - In the International RAC segment, depreciation per unit per month was $265, compared to the estimated $283.55 [4] - The total RPD for the International RAC was $52.07, below the average estimate of $55.53 [4] - The average number of vehicles in the International RAC was 91,343, slightly below the estimated 91,979 [4] Group 5 - Geographic revenue for the International RAC was $323 million, below the three-analyst average estimate of $349 million, representing a year-over-year change of -5.3% [4] - Geographic revenue for the Americas RAC was $1.49 billion, compared to the estimated $1.67 billion, reflecting a -14.3% change year-over-year [4]

Hertz Global Holdings, Inc. (HTZ) came out with a quarterly loss of $1.12 per share versus the Zacks Consensus Estimate of a loss of $1.08. This compares to loss of $1.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.70%. A quarter ago, it was expected that this company would post a loss of $0.72 per share when it actually produced a loss of $1.18, delivering a surprise of -63.89%.Over the last four quarters, the company ...

Financial Performance - Hertz reported total revenues of $1.813 billion for Q1 2025, a decrease of 13% compared to $2.080 billion in Q1 2024[23] - Adjusted net income for Q1 2025 was a loss of $346 million, an improvement of 12% compared to a loss of $392 million in Q1 2024[23] - Revenues for Q1 2025 were $1,813 million, a decrease of 12.8% compared to $2,080 million in Q1 2024[35] - Net loss for Q1 2025 was $443 million, compared to a net loss of $186 million in Q1 2024, indicating a worsening of 138%[35] - Total revenues for Hertz Global Holdings decreased to $1,813 million in Q1 2025 from $2,080 million in Q1 2024, representing a decline of approximately 12.8%[42] - Adjusted Net Income for Q1 2025 was a loss of $346 million, compared to a loss of $392 million in Q1 2024, showing an improvement of 11.7%[45] - Adjusted Corporate EBITDA for Q1 2025 was a loss of $325 million, compared to a loss of $567 million in Q1 2024, indicating a significant improvement[47] - Cash flows from operating activities provided $251 million in Q1 2025, down from $370 million in Q1 2024, a decrease of 32.2%[39] - Adjusted operating cash flow for Q1 2025 was $(373) million, an improvement from $(697) million in Q1 2024[57] - Adjusted free cash flow for Q1 2025 was $(578) million, an improvement from $(729) million in Q1 2024[57] Expenses and Cost Management - The company achieved a year-over-year improvement in direct operating expenses of $92 million, supported by cost control initiatives and fleet rotation[7] - Total expenses for Q1 2025 were $2,338 million, down from $2,661 million in Q1 2024, reflecting a reduction of 12.1%[35] - Vehicle depreciation decreased by 45% year-over-year, with depreciation per unit (DPU) for the quarter at $353, down from $588[10] - Depreciation of revenue earning vehicles and lease charges, net for Q1 2025 was $535 million, down from $969 million in Q1 2024[62] - Total interest expense, net for Q1 2025 was $129 million, a slight increase from $128 million in Q1 2024[56] Vehicle and Fleet Metrics - Hertz's average vehicles decreased by 8% year-over-year to 504,723, while average rentable vehicles decreased by 10% to 477,273[23] - Hertz's vehicle utilization increased by 240 basis points year-over-year to 79%[13] - The number of revenue earning vehicles increased to 13,139 units in Q1 2025, compared to 12,714 units in Q4 2024[37] - Average rentable vehicles decreased to 477,273 in Q1 2025 from 529,232 in Q1 2024[62] - Vehicle utilization improved to 75% in Q1 2025, up from 72% in Q1 2024, indicating better efficiency in fleet usage[68] - Depreciation per unit per month decreased by 14% to $265 in Q1 2025 from $308 in Q1 2024, reflecting improved cost management[68] Debt and Cash Position - The total cash and cash equivalents, along with restricted cash, decreased to $1,021 million from $1,133 million as of December 31, 2024[37] - Total assets increased to $22,047 million as of March 31, 2025, compared to $21,802 million at the end of 2024[37] - Total debt rose to $16,772 million in Q1 2025, up from $16,335 million at the end of 2024, representing an increase of 2.7%[37] - Net debt as of March 31, 2025, was $15,896 million, up from $15,355 million as of December 31, 2024[60] - The company’s accounts payable increased to $861 million in Q1 2025, up from $642 million at the end of 2024, reflecting a rise of 34.1%[37] - The company’s retained earnings showed an accumulated deficit of $2,945 million as of March 31, 2025, compared to a deficit of $2,502 million at the end of 2024[37] Strategic Initiatives - The company is on track to achieve positive Adjusted Corporate EBITDA by Q3 2025[18] - The company extended the maturity of $1.7 billion of its First Lien revolving credit facility to June 2028, enhancing its capital structure[19] - Hertz's retail vehicle sales reached a record high in Q1 2025, benefiting from tariff-driven pricing dynamics[12] - The company expects to achieve DPU below $300 faster than anticipated, now forecasted for Q2 2025[7] Revenue Generation - Total revenue per unit per month decreased to $3,792 in Q1 2025 from $3,896 in Q1 2024[62] - Total revenue per transaction day (RPD) increased to $52.07 in Q1 2025 from $51.89 in Q1 2024, indicating a stable pricing environment[68] - Average rentable vehicles decreased to 90,516 units in Q1 2025 from 95,409 units in Q1 2024, impacting overall revenue generation capacity[68]