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Jun 30, 2021
Hertz Q2 2021 Earnings Report
Hertz reported strong financial results driven by resurgent demand and tight supply, benefiting from operational and financial improvements made through restructuring.
Key Takeaways
Hertz Global Holdings reported a strong second quarter in 2021 with total revenues of $1.9 billion, up 62% from the first quarter, and an adjusted Corporate EBITDA of $639 million, a company record. The company emerged from Chapter 11 on June 30, 2021, with a significantly improved financial position and is planning a re-IPO by the end of the year.
Total revenues reached $1.9 billion, a 62% increase from Q1 2021, excluding Donlen revenues.
Net loss was $168 million, which included $633 million in reorganization expenses.
Adjusted Corporate EBITDA was $639 million, setting a company record.
Corporate liquidity stood at $3.0 billion as of June 30, 2021, including $1.8 billion in unrestricted cash, compared to $1.1 billion at the end of Q1.
Revenue by Geographic Location
Forward Guidance
The Company anticipates a re-IPO, which includes hosting an investor roadshow and relisting on a major exchange by year-end 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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