NYSE$HTZ

Hertz Global Holdings Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Hertz reported strong quarterly results driven by the rebound in leisure travel and tight fleet inventory, achieving record Adjusted Corporate EBITDA and margin.

Hertz Global Holdings reported total revenues of $2.2 billion for the third quarter of 2021, a 19% increase from the second quarter of 2021. Net income was $605 million, or $1.13 per diluted share. The company reported record Adjusted Corporate EBITDA of $860 million and a record Adjusted Corporate EBITDA Margin of 39%.

  • Total revenues of $2.2 billion, up 19% from second quarter 2021
  • Net income of $605 million, or $1.13 per diluted share
  • Company reports records for both Adjusted Corporate EBITDA of $860 million and Adjusted Corporate EBITDA Margin of 39%
  • Corporate liquidity of $3.8 billion at September 30th, including $2.7 billion in unrestricted cash, compared to $3.0 billion at second quarter-end

Headline financials

Total Revenue

$2.23B

Previous: $1.27B+75.6%
EPS (adj)

$1.20

Previous: -$0.44+372.7%
Capital Expenditures

-$41M

Previous: -$89M+53.9%
Free Cash Flow

$564M

Previous: -$311M+281.4%
Net Income

$605M

Previous: -$222M+372.5%
Operating Income

$671M

Previous: -$442M+251.8%
Gross Profit

$1.1B

Previous: -$89M+1330.3%
Cash & Equivalents

$2.7B

Previous: $1.1B+145.5%
Total Assets

$19.6B

Previous: $18.8B+4.5%

Revenue & EPS history

Hertz · Revenue · Quarterly

$2.23B

Q3 2021+75.6%vs Q3 2020
Beat estimate in 7 of 11 quarters(64%)
ActualEstimate

Forward guidance

Hertz Global anticipates Adjusted Corporate EBITDA between $500 and $600 million for Q4 2021, and between $2.0 and $2.1 billion for the full year. They expect Total Revenue Per Unit Per Month to be between $1,355 and $1,445 for Q4, and between $1,400 and $1,430 for the full year. Depreciation Per Unit Per Month is projected to be between $60 and $70 for Q4, and between $95 and $105 for the full year. Liquidity at December 31, 2021, is expected to be between $3.9 and $4.1 billion.

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 Q3 2021

Historical avgQ3 2021

+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
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
Q3 2020
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013
Q4 2012
Q3 2012
Q2 2012
Q1 2012
Q4 2011
Q3 2011
Q2 2011
Q1 2011
Q4 2010
Q3 2010
Q2 2010
Q1 2010

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