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Hertz
🇺🇸 NYSE:HTZ
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•
Mar 31, 2024

Hertz Q1 2024 Earnings Report

Hertz's Q1 2024 earnings were impacted by fleet and direct operating costs, resulting in a net loss. The company is focused on optimizing vehicle supply, improving productivity, and reducing operating costs to enhance profitability.

Key Takeaways

Hertz Global Holdings reported a revenue of $2.1 billion for Q1 2024, a 2% increase year-over-year. However, the company experienced a GAAP net loss of $186 million, or $0.61 loss per diluted share, and an adjusted net loss of $392 million, or $1.28 loss per diluted share. The results were weighed down by increased vehicle depreciation, particularly related to EVs held for sale.

Revenue increased by 2% year-over-year to $2.1 billion, driven by strong rental demand.

GAAP net loss was $186 million, or $0.61 loss per diluted share.

Adjusted net loss was $392 million, or $1.28 loss per diluted share.

Adjusted Corporate EBITDA was negative $567 million, impacted by a $588 million increase in vehicle depreciation.

Total Revenue
$2.08B
Previous year: $2.05B
+1.6%
EPS
-$1.28
Previous year: $0.39
-428.2%
Americas Vehicle Utilization
77%
Previous year: 79%
-2.5%
Intl Vehicle Utilization
72%
Previous year: 72%
+0.0%
Total Vehicle Utilization
76%
Previous year: 77%
-1.3%
Gross Profit
-$11M
Previous year: $410M
-102.7%
Cash and Equivalents
$465M
Previous year: $728M
-36.1%
Free Cash Flow
-$1.57B
Previous year: -$83M
+1788.0%
Total Assets
$24.3B
Previous year: $23.7B
+2.4%

Hertz

Hertz

Hertz Revenue by Segment

Hertz Revenue by Geographic Location

Forward Guidance

Hertz has initiated revenue and cost initiatives to improve future profitability.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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