NYSE$HTZ

Hertz Global Holdings Inc · Q3 2023 earnings

Q3 2023 earnings · · Investor relations

Briefing

Hertz reported record revenue driven by ongoing strength in demand and stable pricing.

Hertz Global Holdings, Inc. reported third quarter 2023 results with total revenues of $2.7 billion and GAAP net income of $629 million.

  • Total revenues of $2.7 billion
  • GAAP net income of $629 million, a 23% margin, or $0.92 per diluted share
  • Adjusted Net Income of $230 million, or $0.70 per adjusted diluted share
  • Adjusted Corporate EBITDA of $359 million, a 13% margin

Headline financials

Total Revenue

$2.7B

Previous: $2.5B+8.3%
EPS (adj)

$0.70

Previous: $1.08-35.2%
Vehicle utilization

83.0%

Previous: 80.0%+3.8%
Total RPU per month

$1.6K

Previous: $1.69K-5.3%
Depreciation per unit

$282.00

Previous: $187.00+50.8%
Capital Expenditures

-$151M

Previous: -$104M-45.2%
Free Cash Flow

$478M

Previous: $473M+1.1%
Net Income

$629M

Previous: $577M+9.0%
Operating Income

$559M

Previous: $596M-6.2%
Gross Profit

$703M

Previous: $920M-23.6%
Cash & Equivalents

$594M

Previous: $1.01B-41.0%
Total Assets

$25.6B

Previous: $21.7B+17.8%

Revenue & EPS history

Hertz · Revenue · Quarterly

$2.7B

Q3 2023+8.3%vs Q3 2022
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Forward guidance

The company did not provide a financial outlook in the earnings report.

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 2023

Historical avgQ3 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———
Q3 2020———
Q2 2020———
Q1 2020———
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Q3 2019———
Q2 2019———
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Q4 2018———
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Q4 2016———
Q3 2016———
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Q4 2015———
Q3 2015———
Q2 2015———
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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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