Financial Data and Key Metrics Changes - The company achieved $2.5 billion in revenue and delivered adjusted corporate EBITDA of $190 million, marking a $350 million year-over-year improvement and positive EPS for the first time in two years [5][28]. - The average fleet age is now under 12 months, with a record high utilization rate of 84%, the highest since 2018 [6][29]. - Direct operating expenses (DOE) per day improved both year-over-year and sequentially, while maintaining a sub-$350 DPU goal [7][29]. Business Line Data and Key Metrics Changes - Revenue per unit (RPU) came in at $1,530, nearly flat year-over-year, with record utilization driving performance despite a 7% smaller fleet [17][28]. - The company reported a 2% year-over-year improvement in RPU across the total fleet, with utilization across the total fleet improving by 460 basis points [18][29]. - The rent-to-buy program has a 70% purchase conversion rate, significantly exceeding traditional dealership rates [11]. Market Data and Key Metrics Changes - The international segment saw strong margins with larger RPD and RPU gains, indicating a robust pricing environment [28]. - Inbound demand remains down low single digits year-over-year, particularly affected by EMEA and Australia/New Zealand markets [66]. - Corporate demand showed improvement in October, indicating a positive trend moving into Q4 [64]. Company Strategy and Development Direction - The company is focused on transforming its rental car business while simultaneously laying the groundwork for a diversified, value-creating platform spanning rental car, fleet, service, and mobility [9][14]. - The strategy includes enhancing customer experience, optimizing fleet management, and leveraging e-commerce channels to drive sales [12][20]. - The company aims to grow its mobility business, including partnerships with rideshare companies and exploring autonomous vehicle opportunities [14][45]. Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for a stable setup in 2026, with expectations for mid-single-digit growth in transaction days and fleet size [33][36]. - The company anticipates challenges in Q4 due to government shutdown impacts and external system outages, which may affect revenue [32][68]. - Management emphasized the importance of execution and maintaining focus on core rental operations while expanding into new areas [39][45]. Other Important Information - The company ended the quarter with $2.2 billion in total liquidity, including $1.1 billion in unrestricted cash [30]. - The company completed a $425 million senior unsecured exchangeable note issuance, with plans to use part of the proceeds to redeem a $500 million bond maturing in December 2026 [30]. - The company is targeting a 3%-6% EBITDA margin for 2026, aiming for $1 billion in EBITDA production by 2027 [36]. Q&A Session Summary Question: Can you unpack what becoming a value-creating mobility platform means in practice? - Management highlighted that while the rental car business remains core, there are additional growth opportunities in car sales, service, and mobility, leveraging their existing infrastructure and customer base [41][42]. Question: Are the economics on a smaller vehicle footprint better despite potential RPD headwinds? - Management acknowledged RPD headwinds but emphasized the dynamic nature of vehicle mix optimization based on customer demand and market conditions [46][48]. Question: What are the expectations for DPU and fleet mix for next year? - Management indicated that the broader fleet strategy and stable residuals would support achieving sub-$300 DPU targets, with a focus on optimizing vehicle sales channels [54][55]. Question: Can you provide insights on international demand and market performance? - Management noted substantial improvement in airport demand and positive trends in corporate demand, although inbound demand remains slightly down year-over-year [62][64].

Core Insights - Hertz Global reported a third-quarter profit for the first time in nearly two years, indicating a significant turnaround for the company [1] - The profit was driven by strong demand for used vehicle sales and a newer fleet of rental cars, which contributed to a 27% increase in the company's shares [1] Financial Performance - Hertz Global achieved profitability in the third quarter after a prolonged period of losses, marking a pivotal moment in its financial recovery [1] - The company's reliance on used vehicle sales played a crucial role in boosting its revenue and overall financial performance [1] Market Reaction - Following the announcement of the profit, Hertz Global's shares surged by 27%, reflecting positive investor sentiment and confidence in the company's recovery strategy [1]

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 November 4, 2025, and Hertz Global Holdings, Inc. ("Hertz Global" or the "Company") undertakes no obligation to update that informatio ...

Core Insights - Hertz reported a profit in the third quarter, attributed to a significant reduction in depreciation costs as the company continues its strategy of replacing older vehicles with a newer fleet [1] Financial Performance - The company experienced a turnaround in profitability during the third quarter, indicating effective cost management and operational efficiency [1] Strategic Initiatives - Hertz's ongoing strategy involves swapping out older cars for a newer fleet, which is contributing to improved financial results and overall company performance [1]

Financial Performance - Total revenues for Q3 2025 were $2,478 million, a decrease of 3.8% compared to $2,576 million in Q3 2024[18]. - Net income for Q3 2025 was $184 million, compared to a net loss of $1,332 million in Q3 2024[19]. - Total comprehensive income for Q3 2025 was $176 million, compared to a loss of $1,292 million in Q3 2024[19]. - For the nine months ended September 30, 2025, Hertz reported a net income loss of $553 million, an improvement from a loss of $2,383 million in the same period of 2024[26]. - Total revenues for the nine months ended September 30, 2025, were $6,476 million, down from $7,009 million in 2024, representing a decrease of approximately 7.6%[34]. - The company reported a loss before income taxes of $607 million for the nine months ended September 30, 2025[203]. Assets and Liabilities - Total assets increased to $22,990 million as of September 30, 2025, up from $21,802 million at the end of 2024, representing an increase of 5.4%[15]. - Total debt rose to $17,408 million as of September 30, 2025, compared to $16,335 million at the end of 2024, an increase of 6.6%[15]. - The accumulated deficit increased to $3,055 million as of September 30, 2025, compared to $2,502 million at the end of 2024[15]. - As of September 30, 2025, Hertz reported a total stockholder's equity of $858 million, down from $3,543 million at the end of 2023, reflecting a significant decline in accumulated deficit to $(3,474) million[38]. Cash Flow and Expenses - Cash flows from operating activities provided $1,432 million, compared to $1,810 million in the prior year, reflecting a decrease of 20.9%[26]. - The company incurred $1,454 million in direct vehicle and operating expenses for the three months ended September 30, 2025, slightly down from $1,470 million in 2024[34]. - Selling, general and administrative expenses increased to $241 million in Q3 2025, up from $189 million in Q3 2024, a rise of 27.5%[18]. - Cash and cash equivalents at the end of the period were $1,549 million, up from $905 million at the end of September 2024, showing a significant increase of 71.1%[28]. Vehicle and Operations - The number of revenue earning vehicles increased to 14,023 as of September 30, 2025, up from 12,714 vehicles at the end of 2024, a growth of 10.3%[15]. - The net revenue earning vehicles amounted to $12,693 million, an increase from $11,963 million as of December 31, 2024[65]. - Operating lease income from vehicle rentals for the three months ended September 30, 2025 was $2,232 million, down from $2,330 million in 2024, representing a decline of 4.2%[113]. Legal and Settlement Matters - The company reported a legal settlement expense of $154 million in Q3 2025[18]. - The company received a pro rata settlement distribution of $154 million from the In re Automotive Parts Antitrust Litigation, recorded in the financial statements for the three and nine months ended September 30, 2025[195]. - The Company has accrued approximately $334 million for litigation related to Unsecured Notes, including $260 million on underlying claims and $74 million in pre-judgment interest as of September 30, 2025[187]. Debt and Financing - The company’s total debt as of September 30, 2025, includes $1,250 million in First Lien Senior Notes due 2029 and $500 million in Senior Notes due 2026[70]. - The total borrowing capacity available to the company as of September 30, 2025, is $2.506 billion, with $1.119 billion available under the First Lien RCF and $1.387 billion under various vehicle debt facilities[103]. - The company recognized a total interest expense of $1 million for the Exchangeable Notes Due 2030 for the three months ended September 30, 2025, which includes a gain of $1 million on the fair value of the Exchange Feature[87]. Stock and Equity - Hertz's common stock shares increased from 305 million at December 31, 2023, to 307 million by September 30, 2024[21]. - The company has authorized 36,966,397 shares for future grants under the 2021 Omnibus Incentive Plan as of September 30, 2025[131]. - The total fair value of Restricted Stock Units (RSUs) that vested in the nine months ended September 30, 2025, was $39 million, compared to $26 million in the same period of 2024[141]. Tax and Regulatory Matters - The company recorded a tax provision of $50 million for the three months ended September 30, 2025, resulting in an effective tax rate of 21%, compared to a tax benefit of $288 million and an effective tax rate of 18% in the same period of 2024[118]. - The company expects federal cash taxes to decrease in the near term due to the enactment of the One Big Beautiful Bill Act, which reinstates full bonus depreciation and modifies certain tax provisions[121]. Market and Economic Conditions - The Hertz Global common share price was $6.80 as of September 30, 2025, reflecting an increase from $3.66 as of December 31, 2024[170]. - The risk-free interest rate for the Exchange Features 2029 was 3.66% as of September 30, 2025, down from 4.35% as of December 31, 2024[170].

Exhibit 99.1 HERTZ TRANSFORMATION DRIVES RECORD UTILIZATION AND RETURN TO EPS PROFITABILITY ------------------------------------------------------------------------------------------------------------------ "This quarter proves that we're delivering on our commitments: driving strong results through focused execution and operational discipline," said Gil West, CEO of Hertz. "Throughout this transformation, we're rebuilding our foundation while sharpening our skills and capabilities, creating a new platform ...

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Hertz Global Holdings, Inc. (NASDAQ: HTZ) breached their fiduciary duties to shareholders. If you currently own Hertz stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about yo. ...

Core Viewpoint - Moore Law, PLLC is investigating potential claims against Hertz Global Holdings Inc. regarding misleading statements related to vehicle depreciation and demand for electric vehicles (EVs) [1]. Group 1: Investigation Details - The investigation focuses on claims that Hertz downplayed the financial impact of vehicle depreciation and overstated its ability to manage it [1]. - It is alleged that demand for Hertz's EVs was not as strong as investors were led to believe, and that the company had an excessive number of vehicles, particularly EVs, in its fleet [1]. - As a result of these factors, Hertz is likely to incur significant losses on the sale of both internal combustion engine (ICE) vehicles and EVs, negatively impacting its financial results [1]. Group 2: Financial Impact - On January 11, 2024, Hertz announced plans to sell approximately 20,000 EVs, about one-third of its global EV fleet, to better align supply with expected demand [2]. - The company indicated that the fourth quarter of 2023 Adjusted Corporate EBITDA would be negatively affected by increased net depreciation expenses due to this sales plan, alongside higher ordinary depreciation expenses [2]. - Following this announcement, Hertz's stock price fell by $0.40 per share, or 4.28%, closing at $8.95 per share on the same day [2].

Core Insights - The article introduces Vasileios Prassas as a new contributing analyst for Seeking Alpha, emphasizing his experience and focus on asymmetric investment opportunities [2]. Group 1 - The analyst has ten years of experience in investment analysis, having worked for notable firms such as Morgan Stanley Investment Management [2]. - The analyst specializes in identifying investment opportunities where companies have faced strategic missteps but have the potential to recover [2]. - The analyst intends to contribute investment ideas infrequently, highlighting the rarity of great investment opportunities [2].

Core Insights - Hertz's decision to allow buyers to complete the entire car purchasing process online aligns with the industry's shift towards digital buying habits, driven by consumer expectations for a seamless online experience [1][2] - The company has formed key partnerships, notably with Amazon Autos, enhancing its e-commerce presence and expanding its inventory visibility [1][2] - Industry forecasts indicate that by 2026, 15% of car purchases in the U.S. could be fully online, making Hertz's online strategy essential for improving resale outcomes [2] Financial Performance - Hertz's stock has increased nearly 64% over the past year and more than 50% since January, reflecting positive market sentiment towards its new strategy [4] - Despite the stock gains, Hertz reported a loss of $0.34 per share in the last quarter and a trailing yearly loss of $3.32 per share, indicating ongoing financial challenges [5] - The second quarter marked a turning point with core profits turning positive for the first time in nearly two years, with net income and adjusted EBITDA improving by approximately $500 million year-over-year [5] Operational Efficiency - The company's strategy of smarter vehicle management has led to a reduction in depreciation per vehicle to $251 per month, below its target of $300, and an increase in vehicle utilization to 83% [6] - Retail car sales reached a five-year high in the second quarter, suggesting that Hertz's digital sales initiatives are effectively engaging consumers [6] - Hertz has improved its financial position with over $1.45 billion in liquidity and a 3% reduction in direct operating costs [6]