NYSE$HTZ

Hertz Global Holdings Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Hertz reported strong results driven by growth in demand and sustained pricing. Investments in technology and electrification improved operations and expanded rideshare reach.

Hertz Global Holdings, Inc. reported first quarter 2023 results with total revenues of $2.0 billion and GAAP net income of $196 million, or $0.61 per diluted share. Adjusted Corporate EBITDA was $237 million, representing a 12% margin.

  • Total revenues reached $2.0 billion.
  • GAAP net income was $196 million, or $0.61 per diluted share.
  • Adjusted Net Income was $126 million, or $0.39 per adjusted diluted share.
  • Adjusted Corporate EBITDA was $237 million, a 12% margin.

Headline financials

Total Revenue

$2.05B

Previous: $1.81B+13.1%
EPS (adj)

$0.39

Previous: $0.87-55.2%
Vehicle utilization

77.0%

Previous: 75.0%+2.7%
Total RPD

$60.48

Previous: $59.17+2.2%
Total RPU per month

$1.41K

Previous: $1.33K+6.3%
Depreciation per unit

$252.00

Previous: -$40.00+730.0%
Capital Expenditures

-$45M

Previous: -$30M-50.0%
Free Cash Flow

$151M

Previous: $396M-61.9%
Net Income

$196M

Previous: $426M-54.0%
Operating Income

$397M

Previous: $476M-16.6%
Gross Profit

$445M

Previous: $757M-41.2%
Cash & Equivalents

$728M

Previous: $1.52B-52.1%
Total Assets

$23.7B

Previous: $20.9B+13.4%

Revenue & EPS history

Hertz · Revenue · Quarterly

$2.05B

Q1 2023+13.1%vs Q1 2022
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Forward guidance

The release does not contain any forward guidance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+1.7%

Avg return

Earnings day

+2.5%

Avg return

5 days after

-3.5%

Avg return

30 days after

53%

10 / 19 earnings

Positive

+36.2%

Q3 2025

Best reaction

-23.8%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025———
Q1 2026-1.6%-4.1%-17.4%
Q4 2025+1.8%-1.8%+4.1%
Q3 2025+36.2%+33.2%+4.0%
Q1 2025-17.2%-4.0%-12.2%
Q4 2024-8.5%+5.4%-10.4%
Q3 2024+12.5%+20.2%+27.0%
Q2 2024-9.3%-11.0%-25.5%
Q1 2024-23.8%-21.6%-17.6%
Q4 2023+6.7%+2.8%-8.6%
Q3 2023-14.8%-16.7%-15.1%
Q2 2023-11.1%-8.2%-5.9%
Q1 2023+10.1%+7.0%+4.6%
Q4 2022+7.5%+3.6%+4.5%
Q3 2022-1.0%-5.3%-9.9%
Q2 2022+23.0%+18.2%+9.1%
Q1 2022-4.7%-11.0%-12.6%
Q4 2021+10.0%+13.1%+26.1%
Q3 2021+14.8%+29.8%-11.6%
Q2 2021+2.4%-2.7%+0.4%
Q1 2021———
Q4 2020———
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Q4 2013———
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Q4 2012———
Q3 2012———
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Q4 2011———
Q3 2011———
Q2 2011———
Q1 2011———
Q4 2010———
Q3 2010———
Q2 2010———
Q1 2010———

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