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Sep 30, 2023

Hertz Q3 2023 Earnings Report

Hertz reported record revenue driven by ongoing strength in demand and stable pricing.

Key Takeaways

Hertz Global Holdings, Inc. reported third quarter 2023 results with total revenues of $2.7 billion and GAAP net income of $629 million.

Total revenues of $2.7 billion

GAAP net income of $629 million, a 23% margin, or $0.92 per diluted share

Adjusted Net Income of $230 million, or $0.70 per adjusted diluted share

Adjusted Corporate EBITDA of $359 million, a 13% margin

Total Revenue
$2.7B
Previous year: $2.5B
+8.3%
EPS
$0.7
Previous year: $1.08
-35.2%
Americas Vehicle Utilization
84%
Previous year: 81%
+3.7%
Intl Vehicle Utilization
80%
Previous year: 77%
+3.9%
Total Vehicle Utilization
83%
Previous year: 80%
+3.8%
Gross Profit
$680M
Previous year: $646M
+5.3%
Cash and Equivalents
$594M
Previous year: $1.01B
-41.0%
Free Cash Flow
$313M
Total Assets
$25.6B
Previous year: $21.7B
+17.8%

Hertz

Hertz

Hertz Revenue by Geographic Location

Forward Guidance

The company did not provide a financial outlook in the earnings report.

Revenue & Expenses

Visualization of income flow from segment revenue to net income