NYSE$HTZ
Hertz Global Holdings Inc · Q1 2025 earnings
Q1 2025 earnings · · After market close · Investor relations
Briefing
Hertz reported a net loss as it continued executing its fleet transformation strategy.
Hertz saw declining revenue and a net loss in Q1 2025, but significant operational improvements in fleet management, cost control, and depreciation are setting up the company for future profitability.
- Revenue fell 13% year-over-year to $1.813 billion due to tighter fleet strategy.
- Net loss of $443 million, slightly higher than the $186 million loss a year earlier.
- Depreciation per vehicle dropped significantly due to newer, more efficient fleet composition.
- Retail vehicle sales hit a record, driven by strong residual values and the Hertz Car Sales strategy.
Headline financials
Revenue & EPS history
Hertz · Revenue · Quarterly
$1.81B
Forward guidance
Hertz expects to return to positive Adjusted Corporate EBITDA by Q3 2025, driven by strategic fleet rotation, retail sales strength, and continued cost control.
Tailwinds
- On track to achieve sub-$300 depreciation per unit in Q2 2025.
- Retail vehicle sales set a record in Q1 2025.
- 70% of U.S. fleet is now under 12 months old.
- Revenue management system upgrade expected to boost margins.
- Loyalty enrollments and Net Promoter Scores are improving.
Headwinds
- Revenue declined due to 8% year-over-year fleet reduction.
- Macroeconomic uncertainty affecting corporate and government demand.
- Adjusted Corporate EBITDA remains negative.
- RPU and RPD slightly down due to timing of holidays and fleet mix.
- Free cash flow remains negative as investments continue.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q1 2025
+1.7%
Avg return
Earnings day
+2.5%
Avg return
5 days after
-2.8%
Avg return
30 days after
53%
10 / 19 earnings
Positive
+36.2%
Q3 2025
Best reaction
-23.8%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.9% | -4.4% | — | |
| 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% | |
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