The earnings call reflected significant operational improvements and a positive shift in adjusted corporate EBITDA, with notable achievements in fleet management and customer satisfaction. However, these were tempered by challenges in pricing, a decline in revenue, and recall impacts. Despite these challenges, the call's sentiment leans towards optimism due to the substantial progress made.

Company Guidance -

Q3 2025

During Hertz Global Holdings' second quarter 2025 earnings call, the company highlighted several key metrics and progress indicators. Notably, Hertz delivered its best results in nearly two years, achieving a positive adjusted corporate EBITDA for the first time in seven quarters, marking a nearly $0.5 billion year-over-year improvement. The company reported $2.2 billion in revenue for the quarter. They exceeded their North Star target for depreciation per unit, bringing it down to $251, and achieved the highest second quarter retail vehicle sales in five years. Fleet utilization reached 83%, the highest in nearly two years, while direct operating expense per transaction day improved despite a lower year-over-year volume. Hertz is maintaining a disciplined approach to fleet management, revenue optimization, and rigorous cost management, with the fleet strategy focusing on aligning the mix to customer preferences and optimizing unit economics. The company anticipates maintaining a fleet size approximately 6% below 2024 levels through year-end and continues to work towards an adjusted corporate EBITDA of $1 billion by 2027.

Positive Adjusted Corporate EBITDA

For the first time in 7 quarters, Hertz delivered positive adjusted corporate EBITDA, representing a nearly $0.5 billion year-over-year improvement.

Revenue and Utilization Metrics

Achieved $2.2 billion in revenue for the quarter, with the highest fleet utilization in nearly 2 years and the highest second quarter retail vehicle sales in 5 years.

Fleet Improvement and Management

Achieved depreciation per unit of $251, well below the sub-$300 North Star target, highlighting successful fleet rotation and management strategies.

Customer Satisfaction and Loyalty

Net Promoter Score improved by 11 points year-over-year, and there was a 100% year-over-year increase in new U.S. Hertz loyalty member sign-ups.

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)	0.09 / -	-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
Aug 07, 2025	$5.57	$5.99	+7.54%
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%

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.