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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.
Hertz
Hertz
Hertz Revenue by Geographic Location
Revenue by Geographic Location
Americas RAC Revenue
CapyFin.com 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.