Hertz Q1 revenue rises 11%, beats expectations

HERTZ GLOBAL HOLDINGS, INC.

HERTZ GLOBAL HOLDINGS, INC.

HTZ

0.00


Overview

  • U.S. car rental firm's Q1 revenue rose 11% yr/yr, beating analyst expectations

  • Adjusted loss per share narrowed, coming in less than analyst expectations

  • Company launched Oro Mobility, expanding into autonomous and driver-led fleet management


Outlook

  • Hertz did not provide specific financial guidance for the current quarter or full year


Result Drivers

  • COMMERCIAL STRATEGIES - Hertz said Q1 revenue growth was driven by continued progress in commercial strategies and improvements in core rental operations

  • REVENUE METRICS - Year-over-year improvement in Revenue Per Day (RPD) and Revenue Per Unit (RPU) contributed to higher revenue, with RPD up 5.5%

  • DISCIPLINED FLEET MANAGEMENT - Lower depreciation per unit and a younger fleet supported profitability improvements

  • RECALL IMPACT - Elevated vehicle recalls reduced utilization and negatively impacted revenue and EBITDA, though Hertz said it is actively managing these effects


Company press release: ID:nBw1xkb8ya


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

Beat

$2.004 bln

$1.88 bln (7 Analysts)

Q1 Adjusted EPS

Beat

-$0.72

-$0.73 (7 Analysts)

Q1 EPS

-$1.06

Q1 Adjusted Net Income

Beat

-$224 mln

-$247.54 mln (2 Analysts)

Q1 Net Income

-$333 mln

Q1 Adjusted EBITDA Margin

-8.00%


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