The earnings call highlights significant progress in fleet transformation and operational improvements, which are positive. However, financial losses, depreciation challenges, and cost headwinds such as insurance reserve increases and lease liabilities are notable concerns. Overall, while there are promising initiatives underway, the financial performance and cost issues create a balanced view.

Company Guidance

In the fourth quarter of 2024, Hertz Global Holdings provided several key metrics during their earnings call, highlighting the company's efforts to navigate a challenging year and set a foundation for future success. The company reported a revenue of just over $2 billion and an adjusted EBITDA loss of $357 million, attributed largely to a 7% year-over-year decrease in volume. Despite these challenges, Hertz made significant progress in fleet management by selling 100,000 vehicles in Q4, up from just over 30,000 in Q4 2023, and achieving a fleet utilization improvement of 270 basis points between Q3 and Q4. Moreover, they completed a capital raise of $500 million to enhance liquidity, bringing their total liquidity position to $1.8 billion by year-end. The company also emphasized their strategic focus on achieving a sub-$300 depreciation per unit (DPU) by year-end 2025 and improving customer satisfaction, with Net Promoter Scores showing strong gains. Looking forward, Hertz projected a low single-digit EBITDA margin for 2025, with a seasonal EBITDA loss in Q1, breakeven in Q2, and profitability in the latter half of the year.

Fleet Transformation Progress

Over 60% of the fleet was comprised of vehicles 1 year old or less by year-end 2024, and Hertz remains on track to substantially complete fleet rotation by year-end 2025. Fleet utilization improved year-over-year for the first time in 2024.

Operational Improvements and Strategic Additions

The company has strengthened its team with notable hires, such as Chris Berg as Chief Administrative Officer and Doria Holbrook as EVP of Mobility, to enhance execution capabilities. Significant progress has also been made in customer satisfaction with a 60-point improvement in service recovery scores.

Liquidity Position and Capital Structure

Hertz ended 2024 with a liquidity position of $1.8 billion and completed a $500 million capital raise, improving financial flexibility.

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Hertz Global (HTZ) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HTZ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 24, 2025	2025 (Q1)	-0.95 / -	-1.28	―	―	―
Feb 13, 2025	2024 (Q4)	-0.69 / -1.18	-1.36	13.24% (+0.18)
Nov 12, 2024	2024 (Q3)	-0.48 / -0.68	0.7	-197.14% (-1.38)
Aug 01, 2024	2024 (Q2)	-1.25 / -1.44	0.72	-300.00% (-2.16)
Apr 25, 2024	2024 (Q1)	-0.45 / -1.28	0.39	-428.21% (-1.67)
Feb 06, 2024	2023 (Q4)	-1.05 / -1.36	0.5	-372.00% (-1.86)
Oct 26, 2023	2023 (Q3)	0.68 / 0.70	1.08	-35.19% (-0.38)
Jul 27, 2023	2023 (Q2)	0.64 / 0.72	1.22	-40.98% (-0.50)
Apr 27, 2023	2023 (Q1)	0.19 / 0.39	0.87	-55.17% (-0.48)
Feb 07, 2023	2022 (Q4)	0.46 / 0.50	0.91	-45.05% (-0.41)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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HTZ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 13, 2025	$4.26	$3.90	-8.45%
Nov 12, 2024	$3.37	$3.66	+8.61%
Aug 01, 2024	$4.08	$3.77	-7.60%
Apr 25, 2024	$5.80	$4.68	-19.31%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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