Rental car giant Hertz is selling 20,000 all-electric vehicles. The sale will generate a loss of about $245 millionExternal link. Investors aren’t happy. ...

Hertz Global Holdings Inc. said Thursday it is selling about 20,000 electric vehicles from its fleet, or about one-third of the total, and expects to book charges of about $245 million in the fourth quarter.The move is aimed at better balancing supply and expected demand for EVs, allowing the car-rental company to scrap a disproportionate number of lower-margin rentals and reduce damage expense associated with EVs. Collision and damages costs for EVs remained high in the fourth quarter, Hertz said in a regu ...

ESTERO, Fla., Jan. 11, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ)  (the "Company") announced today that it plans to report its fourth quarter 2023 financial results at approximately 7:30 a.m. ET on Tuesday February 6, 2024 followed by an earnings call at 8:30 a.m. ET.A live webcast of the call will be available on the Investor Relations page of the Company's website at https://ir.hertz.com. To access the call by phone, please register through this link: Hertz Q4 2023 earnings call teleco ...

Hertz Global Holdings, Inc. (NASDAQ:HTZ) Q3 2023 Earnings Conference Call October 26, 2023 8:30 AM ET Company Participants Johann Rawlinson - Investor Relations Stephen Scherr - Chief Executive Officer Alexandra Brooks - Executive Vice President and Chief Financial Officer Conference Call Participants Chris Woronka - Deutsche Bank Ian Zaffino - Oppenheimer Hans Hoffman - Jefferies Ryan Brinkman - JPMorgan Chris Stathoulopoulos - SIG Operator Welcome to the Hertz Global Holdings Third Quarter 2023 Earnings C ...

>500k Note: Data For Full Year 2022 Q3 2022 Q3 2023 DRIVERS We continue to experience a strong overall demand environment AVERAGE FLEET 533k 590k +11% Demand-driven growth in leisure, rideshare and corporate in Q3 2023 DPU $185 $282 +52% DOE/TRANSACTION DAY $34.53 $34.78 +1% Excluding net collision and damage costs in both periods, DOE per transaction day was down 10% ADJ. FREE CASH FLOW $505M $313M Impacted by reduced net gain on disposition of vehicles and (38%) materially lower EBITDA GLOBAL RESULTS – SE ...

Financial Performance and Expenses - International RAC's SG&A decreased by $13 million in Q3 2023 compared to 2022, primarily due to reduced litigation reserves and decreased incentive compensation[226] - Vehicle interest expense for International RAC increased by $34 million in Q3 2023 compared to 2022, driven by higher market interest rates and higher debt levels[227] - Depreciation of revenue earning vehicles and lease charges for International RAC increased by $55 million in the nine months ended September 30, 2023, driven by higher Average Vehicles and vehicle acquisition costs[229] - DOE for International RAC increased by $96 million in the nine months ended September 30, 2023, primarily due to increased volume[230] - Vehicle interest expense for International RAC increased by $58 million in the nine months ended September 30, 2023, due to higher market interest rates and debt levels[231] - Net income for the nine months ended September 30, 2023, was $853 million, compared to $1,359 million in 2022[45] - Revenue earning vehicles expenditures were $8,312 million in the nine months ended September 30, 2023, compared to $7,853 million in 2022[45] - Proceeds from issuance of vehicle debt were $5,741 million in the nine months ended September 30, 2023, compared to $8,282 million in 2022[45] - Cash and cash equivalents and restricted cash decreased by $362 million in the nine months ended September 30, 2023, compared to a decrease of $1,142 million in 2022[47] Revenue and Demand - Total revenues for International RAC increased by $193 million in the nine months ended September 30, 2023, with Transaction Days up 17% due to increased travel demand[228] Tax and Financial Adjustments - Hertz recorded a tax benefit of $68 million for Q3 2023, resulting in an effective tax rate of -30%[96] - Hertz recorded a tax benefit of $184 million for the nine months ended September 30, 2023, resulting in an effective tax rate of -27%[98] - Hertz recognized an additional $163 million ordinary loss related to the tax restructuring of European operations in the nine months ended September 30, 2023[94] - Hertz's tax changes in Q3 2023 were driven by benefits from electric vehicle credits and lower pre-tax income[97] - Hertz's tax changes in the nine months of 2023 were driven by lower pre-tax income, electric vehicle credits, and uncertain tax benefits related to European operations[93] Asset Sales and Gains - Hertz recognized a pre-tax gain of $133 million from the sale-leaseback of its Los Angeles airport location in March 2023[58] - Hertz received an additional $29 million pre-tax gain from the sale of non-vehicle capital assets in February 2023[57] Operational and Market Insights - Hertz's vehicle rental operations are seasonal, with decreased activity in winter and heightened activity in spring and summer[53] - Hertz operates globally through the Hertz, Dollar, and Thrifty brands, with locations in the U.S., Africa, Asia, Australia, Canada, the Caribbean, Europe, Latin America, the Middle East, and New Zealand[51] - Hertz Global does not anticipate a material impact from the Inflation Reduction Act's 15% corporate alternative minimum tax and 1% excise tax on stock buybacks[95]

Hertz Global Holdings, Inc. (NASDAQ:HTZ) Q2 2023 Earnings Conference Call July 27, 2023 8:30 AM ET Company Participants Stephen Scherr - CEO Alex Brooks - CFO Johann Rawlinson - VP, IR Conference Call Participants Chris Woronka - Deutsche Bank Ian Zaffino - Oppenheimer & Company John Healy - Northcoast Research Stephanie Moore - Jefferies Christopher Stathoulopoulos - Susquehanna International Group Operator Welcome to Hertz Global Holdings Second Quarter 2023 Earnings Call. Currently, all lines are in a li ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Commission File | Exact Name of Registrant as Specified in its Charter, | | | | State of | I.R.S. Emp ...

Hertz Global Holdings, Inc. (NASDAQ:HTZ) Q1 2023 Earnings Conference Call April 27, 2023 8:30 AM ET Company Participants Johann Rawlinson - Head of IR Stephen Scherr - CEO Alexandra Brooks - CAO and Interim CFO Conference Call Participants Chris Woronka - Deutsche Bank Ian Zaffino - Oppenheimer John Healy - Northcoast Research Diego Ortega Laya - Morgan Stanley Christopher Stathoulopoulos - SIG Operator Welcome to the Hertz Global Holdings First Quarter 2023 Earnings Call. Currently, all lines are in a list ...