Financial Performance - Q4 2024 revenue was $2.0 billion, a decrease of 7% compared to $2.184 billion in Q4 2023[9] - GAAP net loss for Q4 2024 was $479 million, or $1.56 loss per diluted share, compared to a net loss of $348 million in Q4 2023[8] - Revenues for Q4 2024 were $2,040 million, a decrease of 6.6% compared to $2,184 million in Q4 2023[21] - For the full year 2024, Hertz Global's revenues were $9,049 million, down 3.4% from $9,371 million in 2023[31] - Hertz Global reported revenues of $2,040 million for Q4 2024, a decrease of 6.6% from $2,184 million in Q4 2023[27] - Adjusted net loss for Q4 2024 was $362 million, with adjusted diluted earnings per share of $(1.18)[34] - Hertz Global's net loss for Q4 2024 was $479 million, compared to a net loss of $348 million in Q4 2023[34] Operational Metrics - Average vehicles in the fleet decreased by 4% year over year to 532,884 in Q4 2024, down from 553,545 in Q4 2023[9] - Total RPU per month decreased by 1% to $1,376 in Q4 2024, down from $1,391 in Q4 2023[9] - Average rentable vehicles decreased to 497,875 in Q4 2024 from 527,267 in Q4 2023, a decline of 5.6%[51] - Vehicle utilization improved to 79% in Q4 2024 compared to 78% in Q4 2023[51] - The company reported a total of 35,998 transaction days in Q4 2024, down from 37,602 in Q4 2023, a decrease of 4.3%[51] Expenses and Costs - Total expenses for Q4 2024 were $2,603 million, down from $2,677 million in Q4 2023, with significant increases in depreciation of revenue earning vehicles and lease charges[21] - Direct vehicle and operating expenses rose by 2% year over year in Q4 2024, primarily due to increased insurance costs[6] - The company reported a significant increase in direct vehicle and operating expenses, totaling $1,413 million in Q4 2024, up from $1,388 million in Q4 2023[27] - Total expenses for the three months ended December 31, 2024, were $2,603 million, a decrease of 2.8% from $2,677 million in the same period of 2023[41] Cash Flow and Liquidity - Strong corporate liquidity of $1.8 billion was reported as of December 31, 2024[8] - Cash and cash equivalents at the end of Q4 2024 were $592 million, a decrease from $764 million at the end of Q4 2023[22] - Operating cash flow for the twelve months ended December 31, 2024, was $2,224 million, compared to $2,474 million for the same period in 2023[24] - Adjusted operating cash flow for the twelve months ended December 31, 2024, was $(1,755) million, compared to $44 million in 2023[46] Debt and Financial Leverage - Total debt increased to $16,335 million in Q4 2024, up from $15,691 million in Q4 2023, indicating a rise in financial leverage[22] - Net debt as of December 31, 2024, was $15,355 million, an increase from $14,668 million as of December 31, 2023[49] - Total interest expense, net for the twelve months ended December 31, 2024, was $858 million, up from $596 million in 2023, reflecting a 43.9% increase[44] - Hertz Global's total interest expense for the full year 2024 was $959 million, up from $793 million in 2023[31] Asset Management - The company’s total assets decreased to $21,802 million in Q4 2024 from $24,605 million in Q4 2023[22] - The company reported a long-lived assets impairment of $1,048 million for the twelve months ended December 31, 2024[21] - Depreciation of revenue-earning vehicles and lease charges, net for the twelve months ended December 31, 2024, was $3,611 million, significantly higher than $2,039 million in 2023[44] Future Outlook and Strategy - The operational transformation is expected to be substantially completed by the end of 2025, focusing on strengthening the core business[7] - The company plans to continue focusing on improving operational efficiency and managing costs in the upcoming quarters[21] - The company anticipates reduced EV-related tax credits will impact its U.S. federal tax provision throughout 2024[41] Adjusted Metrics - Adjusted Corporate EBITDA loss narrowed to negative $357 million in Q4 2024, improving by 7% from a loss of $382 million in Q4 2023[9] - Hertz Global's adjusted Corporate EBITDA margin for Q4 2024 was -18%, compared to -17% in Q4 2023[38] - Adjusted total revenues for the twelve months ended December 31, 2024, were $9,100 million, down from $9,418 million in 2023, reflecting a decrease of 3.4%[51] - Adjusted Net Income (Loss) is calculated to eliminate the impact of GAAP income tax, vehicle and non-vehicle debt-related charges, and other non-recurring items, providing a clearer view of operational performance[64]

Wall Street analysts forecast that Hertz Global Holdings, Inc. (HTZ) will report quarterly loss of $0.72 per share in its upcoming release, pointing to a year-over-year increase of 47.1%. It is anticipated that revenues will amount to $2.12 billion, exhibiting a decline of 3% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 0.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsider ...

Company Overview - Hertz Global Holdings, Inc. (HTZ) is expected to report a year-over-year increase in earnings despite lower revenues for the quarter ended December 2024 [1] - The earnings report is anticipated to be released on February 13, 2025, and could influence the stock price depending on whether the results meet or exceed expectations [2] Earnings Estimates - The consensus estimate indicates a quarterly loss of $0.72 per share, reflecting a year-over-year change of +47.1% [3] - Revenues are projected to be $2.12 billion, which is a 3% decrease from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has been revised 0.9% lower in the last 30 days, indicating a reassessment by analysts [4] - The Most Accurate Estimate for Hertz Global is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -2.94% [10][11] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, with a strong predictor for positive readings [7][8] - Hertz Global's combination of a negative Earnings ESP and a Zacks Rank of 4 makes it challenging to predict an earnings beat [11] Historical Performance - In the last reported quarter, Hertz Global was expected to post a loss of $0.50 per share but actually reported a loss of $0.68, resulting in a surprise of -36% [12] - The company has not surpassed consensus EPS estimates in any of the last four quarters [13] Industry Comparison - Avis Budget Group (CAR), a competitor in the Zacks Transportation - Services industry, is expected to report earnings per share of $0.96 for the same quarter, indicating a year-over-year change of -113.5% [17] - Avis Budget's revenues are expected to be $2.73 billion, down 1.3% from the previous year, with a higher Most Accurate Estimate leading to an Earnings ESP of 62.00% [18]

Collaboration with Hertz - XCharge announced a collaboration with Hertz to upgrade EV charging offerings at US airport rental facilities, with completed charging station construction at three major East Coast airports and a pipeline of future projects along the eastern seaboard [1] - XCharge's high-speed chargers and efficient installation process have strengthened Hertz's airport charging infrastructure, helping Hertz meet its service standards and goals for expanding its EV rental fleet [2] - XCharge's Level-3 charging stations significantly reduce charging cycles compared to Level-2 solutions, improving charging speed by more than tenfold and enhancing customer satisfaction [3] XCharge's Strategic Focus - XCharge aims to resolve partners' pressing concerns efficiently, focusing on site design, operational efficiency, and EV charging education, creating turnkey solutions for Hertz's location portfolio [4] - The company plans to strategically elevate its presence in locations with substantial organic consumer traffic to introduce convenient, high-speed charging services to a broader audience, addressing charging anxiety among EV drivers [4] Company Overview - XCharge, founded in 2015, is a global leader in integrated EV charging solutions, offering DC fast chargers, advanced battery-integrated DC fast chargers, and accompanying services [5] - The company combines proprietary charging technology, energy storage system technology, and services to enhance EV charging efficiency and unlock the value of energy storage and management [5] - XCharge is committed to providing innovative and efficient EV charging solutions, working toward establishing a global green future critical to long-term growth and development [5]

ESTERO, Fla., Dec. 30, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ) – one of the leading global car rental companies – today announced two appointments to its leadership team, with Chris Berg joining the company as Executive Vice President and Chief Administrative Officer and Doria Holbrook as Executive Vice President Mobility, effective Jan. 1. Both Berg and Holbrook will report to CEO Gil West.  Hertz (PRNewsfoto/Hertz Global Holdings, Inc.) In their new roles, Berg will oversee the ...

In Brief Hertz has been contacting people who are in the middle of renting electric vehicles recently to offer them the option to buy the car instead of returning it, reports The Verge. And the offers are pretty sweet, according to some renters who shared the offers on Reddit. One renter was reportedly offered a 2023 Chevy Bolt for $18,442, another was offered a 2023 Tesla Model 3 with only 30,000 miles on it for $17,913, and still another got an offer to buy a Polestar 2 for $28,500. On top of that, Hertz ...

ESTERO, Fla., Dec. 13, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz" or the "Company"), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation ("Hertz Corp."), received the requisite consents in its previously announced solicitation of consents ("Consents") to amend (the "Proposed Amendments") certain provisions of the indentures governing its existing 12.625% First Lien Senior Secured Notes due 2029 (the "Initial First ...

ESTERO, Fla., Dec. 5, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz" or the "Company"), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation ("Hertz Corp."), has priced $500 million in aggregate principal amount of additional 12.625% First Lien Senior Secured Notes due 2029 (the "Notes") in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The ...

ESTERO, Fla., Dec. 5, 2024 /PRNewswire/ -- Hertz Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz" or the "Company"), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation ("Hertz Corp."), intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of additional 12.625% First Lien Senior Secured Notes due 2029 (the "Notes") in a private offering exempt from the registration requirements of the Securities Act ...

HERTZ GLOBAL HOLDINGS INC. Q3 2024 EARNINGS PRESENTATION November 12, 2024 Hertz dollo 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 12, 2024, and Hertz Global Holdings, I ...