The earnings call reflects a strategic focus on fleet management, cost reduction, and technological improvements, which are yielding positive results. However, there are significant challenges related to revenue decline, pricing, and macroeconomic uncertainties that need to be addressed.

Company Guidance -

Q3 2025

During the call, Hertz Global Holdings provided detailed guidance on several key metrics that are central to their strategy for the fiscal year 2025. The company emphasized their focus on disciplined fleet management, revenue optimization, and rigorous cost management as their three financial pillars. They reported a depreciation per unit (DPU) below $300, rental per unit (RPU) above $1,500, and direct operating expense (DOE) per day in the low $30s as their North Star metrics. Additionally, Hertz highlighted the transformation of their fleet, with over 70% of their U.S. rental fleet now being 12 months old or newer, which is contributing to improved metrics. The company is also managing cost effectively, achieving nearly a $100 million year-over-year improvement in total direct operating expenses, and expects this disciplined approach to yield a full-year EBITDA margin in the low single digits, with a target of over $1 billion EBITDA by 2027.

Fleet Strategy Success

Over 70% of the core U.S. RAC fleet is now 12 months old or newer, showcasing a successful fleet refresh strategy that positions Hertz to benefit from rising residual values.

Cost Management Improvements

Achieved nearly $100 million year-over-year improvement in total direct operating expense, with sequential improvement in BOE per day despite lower volumes.

Technological Partnerships

Partnerships with UVI for AI-powered vehicle inspections, Amadeus for advanced revenue management, and expanded AI capabilities enhance operational efficiency and customer experience.

Revenue Management System Overhaul

Engaged in a multiyear transformation of revenue management systems with Amadeus, expected to deliver incremental EBITDA and enhance margins.

Liquidity and Financial Strategy

Strong liquidity position at $1.2 billion, with strategic amendments to the revolving credit facility to extend maturity dates and maintain financial flexibility.

Hertz Global (HTZ) Earnings, Revenues Date & History

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HTZ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	0.32 / -	-0.68	―	―	―
Aug 07, 2025	2025 (Q2)	-0.41 / -0.34	-1.44	76.39% (+1.10)
May 12, 2025	2025 (Q1)	-0.98 / -1.12	-1.28	12.50% (+0.16)
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)

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

HTZ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 12, 2025	$6.94	$5.76	-17.00%
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%

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.