NYSE$HTZ
Hertz Global Holdings Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Hertz Global Holdings reported a revenue of $832 million and a net loss attributable to the company of $847 million.
Hertz Global Holdings reported a challenging second quarter due to the pandemic's impact on global travel. The company focused on aligning labor with rental demand, canceling fleet orders, cutting non-essential spending, and consolidating locations. Despite a 67% decline in global revenue, there was sequential monthly improvement as states and countries began to re-open.
- Global revenue declined by 67% due to the pandemic's impact on travel.
- The company reduced global direct operating and SG&A expenses by 47% year-over-year.
- Hertz capitalized on trends in new driver and delivery service offerings, cargo trucks, and van rentals.
- The U.S. used-car market experienced a strong rebound in May and June, with the company ramping up used-car sales efforts.
Headline financials
Revenue & EPS history
Hertz · Revenue · Quarterly
$832M
Forward guidance
Hertz expects to generate about $2.5 billion in annualized savings. The company's priority is fleet management, and it aims to continue selling cars aggressively as it right-sizes its fleet.
Tailwinds
- Disciplined adjustments to cost structure based on revenue fluctuations.
- Continued strong used-car market allows aggressive car sales.
- Laser-focused on capturing revenue, driving efficiency, and advancing critical technology.
- Capitalizing on rental opportunities off airport in the U.S.
- International fleet trending toward demand levels.
Headwinds
- The company had to make difficult but necessary decisions to strengthen and position the company for growth.
- The toughest decisions have been those that impact the livelihood of our dedicated workforce.
- Voluntarily reorganizing under Chapter 11 in North America.
- Airport rental car volume declined 82%, roughly in line with airline travel weakness resulting from COVID-19 restrictions.
- Rise in COVID-19 infections in the south and west since then caused the positive leisure trend to slow again.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports
+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
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| 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% | |
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