Hertz(US:HTZ)2025-02-13 16:47Financial Performance - Q4 2024 vs Q4 2023 - Revenue decreased by 7% from $2.2 billion to $2.0 billion, primarily due to lower volume and a slight decline in rate[8] - Transaction Days decreased by 4% from 37.6 million to 36.0 million, reflecting a disciplined capacity approach[8] - RPD (Revenue Per Day) decreased by 2% from $58.50 to $57.10, mitigated by the execution of the company's commercial strategy[8] - DPU (Depreciation Per Unit) decreased by 16% from $501 to $422, influenced by a $245 million EV write-down in Q4 2023 and higher-than-expected loss on sale in Q4 2024[8] - Adjusted Corporate EBITDA improved by 7% from $(382) million to $(357) million, driven by lower vehicle depreciation and SG&A expense, partially offset by lower revenue and DOE headwinds[8] Financial Performance - Full Year 2024 vs Full Year 2023 - Revenue decreased by 3% from $9.4 billion to $9.0 billion, driven by a decline in rate[10] - RPD decreased by 3% from $61.09 to $59.14, mitigated by the execution of the company's commercial strategy[10] - DPU increased significantly by 74% from $309 to $539, driven by fleet rotation and deterioration in residual values[10] - Adjusted Corporate EBITDA decreased from $561 million to $(1.541) billion, as the company is in the midst of an operational transformation[10] Fleet and Utilization - Average Fleet decreased by 4% YoY in Q4, from 554,000 to 533,000 vehicles, reflecting capacity discipline[8] - Vehicle Utilization increased by 100 bps YoY in Q4, from 78% to 79%, showing early signs of progress from the company's commercial strategy and capacity discipline[8]