NYSE$HTZ
Hertz Global Holdings Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Hertz's financial performance demonstrated significant improvement driven by revenue growth and operational efficiency.
Hertz Global Holdings reported strong Q4 2021 results, with revenues of $1.9 billion, a GAAP net loss of $260 million, and adjusted net income of $426 million. The company achieved a record fourth quarter Adjusted Corporate EBITDA of $628 million and liquidity of $3.2 billion. Full year revenue reached $7.3 billion with adjusted EPS of $4.39.
- Total revenues reached $1.9 billion.
- GAAP net loss was $260 million, or $1.52 loss per share, with adjusted net income of $426 million.
- Adjusted Corporate EBITDA was a record $628 million with a 32% margin.
- Corporate liquidity was $3.2 billion at the end of the year.
Headline financials
Revenue & EPS history
Hertz · Revenue · Quarterly
$1.95B
Forward guidance
Cautionary Note Regarding Forward-Looking Statements
Tailwinds
- The Company's ability to purchase adequate supplies of competitively priced vehicles at a reasonable cost as a result of the continuing global semiconductor microchip manufacturing shortage (the "Chip Shortage") and other raw material supply constraints
- The impact on the value of the Company's non-program vehicles upon disposition when the Chip Shortage and other raw material supply constraints are alleviated
- The Company's ability to attract and retain key employees
- Levels of travel demand, particularly business and leisure travel in the U.S. and in global markets
- Significant changes in the competitive environment and the effect of competition in the Company's markets on rental volume and pricing
Headwinds
- the length and severity of COVID-19 and the impact on the Company's vehicle rental business as a result of travel restrictions and business closures or disruptions, as well as the impact on its employee retention and talent management strategies
- occurrences that disrupt rental activity during the Company's peak periods
- the Company's ability to accurately estimate future levels of rental activity and adjust the number and mix of vehicles used in its rental operations accordingly
- the Company's ability to implement its business strategy, including its ability to implement plans to support a large scale electric vehicle fleet and to play a central role in the modern mobility ecosystem
- the Company's ability to adequately respond to changes in technology, customer demands and market competition
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 Q4 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
| Quarter | Report date | Reaction (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% | |
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