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Mar 31, 2020
Hertz Q1 2020 Earnings Report
Hertz Global's Q1 2020 financial results were significantly impacted by the COVID-19 pandemic.
Key Takeaways
Hertz Global Holdings reported a consolidated revenue of $1.9 billion and a net loss of $356 million for Q1 2020, heavily impacted by the COVID-19 pandemic which caused global travel demand to plummet. The company focused on employee and customer safety, expense mitigation, and preserving liquidity, implementing stringent cost-saving measures and adjusting operations to reflect market realities.
Financial results were significantly impacted by the COVID-19 pandemic.
Consolidated revenue reached $1.9 billion, with U.S. RAC revenue at $1.4 billion.
Hertz Global experienced a net loss of $356 million, with an Adjusted Corporate EBITDA of negative $243 million.
The company maintained approximately $1.0 billion of unrestricted cash and cash equivalents as of March 31, 2020.
Revenue by Geographic Location
Forward Guidance
Due to the unpredictability of the duration and magnitude of the COVID-19 market disruption, the Company is unable to reasonably estimate the ultimate impact to the business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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