Financial Performance - Q2 2025 - Revenues decreased slightly to $3,039 million, a marginal decrease from $3,048 million in 2Q 2024[8] - Rental days remained almost flat at 44,945 thousand, compared to 45,034 thousand in 2Q 2024[8] - Revenue per day excluding exchange rate effects decreased by 1% to $6706 from $6769 in 2Q 2024[8] - Adjusted EBITDA increased by 29% to $277 million from $214 million in 2Q 2024[8] Regional Performance - Americas revenues decreased by 1% to $2,332 million from $2,361 million in 2Q 2024, but improved sequentially throughout the quarter[9] - International revenues excluding exchange rate effects decreased by 1% to $682 million from $687 million in 2Q 2024, driven by Global Rightsizing initiatives[10] - International Adjusted EBITDA increased significantly by 71% to $82 million from $48 million in 2Q 2024, driven by segmentation strategy and lower fleet costs[10] Fleet and Utilization - Average rental fleet decreased by 1% to 698,633 vehicles from 705,145 in 2Q 2024[8] - Vehicle utilization improved to 707%, a 05 percentage point increase from 702% in 2Q 2024[8] - Per-unit fleet costs per month excluding exchange rate effects decreased by 13% to $300 from $346 in 2Q 2024[8] Liquidity and Outlook - Adjusted Free Cash Flow was $(475) million, reflecting a decision to invest approximately $500 million of corporate debt into vehicle programs, expected to reverse by year-end[11] - The company anticipates full year 2025 Adjusted EBITDA to be approximately $900 million - $1,000 million and per-unit fleet costs per month to be approximately $310-$320[16]

Core Insights - Hertz's "Back-to-Basics Roadmap" is effectively enhancing operational performance and establishing a stronger financial foundation, focusing on fleet management, revenue optimization, and cost efficiency [4][8][14] Financial Performance - In Q1 2025, total revenues decreased by 13% year-over-year to $1.813 billion, primarily due to reduced fleet capacity [21] - Net loss for Q1 2025 was $443 million, compared to a loss of $186 million in Q1 2024 [21] - Adjusted Corporate EBITDA improved to a loss of $325 million, a 43% year-over-year improvement [21][38] Fleet Management Strategy - Hertz has rotated into a newer, more efficient fleet, with over 70% of its core U.S. rental fleet being 12 months old or less [9][14] - Vehicle depreciation decreased by 45% year-over-year, with depreciation per unit (DPU) for Q1 2025 at $353, down from $588 [8][21] - The company aims to achieve a DPU below $300 by Q2 2025, ahead of its previous guidance [8][14] Revenue and Demand Environment - Revenue per unit (RPU) declined by 3% year-over-year to $1,264, influenced by seasonal factors and a shift in fleet mix [11][21] - Vehicle utilization increased by 240 basis points year-over-year to 79% [11][21] - Forward bookings for leisure rentals are up year-over-year, while demand for corporate and government segments has moderated [12] Cost Management - Direct operating expenses improved by $92 million year-over-year due to cost control initiatives [14][17] - The company is partnering with an AI-driven vehicle inspection system to enhance maintenance efficiency and customer experience [17] Recent Transactions and Financial Position - Hertz extended the maturity of $1.7 billion of its First Lien revolving credit facility to June 2028, improving its capital structure [19][20] - As of March 31, 2025, Hertz had $1.2 billion in corporate liquidity [14] Customer Experience and Loyalty - Net Promoter Scores improved by 11 points year-over-year, indicating enhanced customer satisfaction [16] - Loyalty enrollments increased by 11% year-over-year, contributing to a rise in loyalty bookings [16]

NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Avis Budget Group, Inc. (NASDAQ: CAR). Shareholders who purchased shares of CAR during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/avis-budget-loss-submission-form/?id=146186&from=3 CLASS PERIOD: February 16, ...