Hertz Global Holdings Inc ( (HTZ) ) has released its Q4 earnings. Here is a breakdown of the information Hertz Global Holdings Inc presented to its investors.
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Hertz Global Holdings Inc. is a prominent car rental and mobility solutions provider, operating under brands such as Hertz, Dollar, Thrifty, and Firefly, with a vast global presence in over 160 countries.
In its latest earnings report, Hertz Global Holdings announced a revenue of $2.0 billion for the fourth quarter of 2024, while the full-year revenue was $9.0 billion. Despite these figures, the company faced a GAAP net loss of $479 million for the quarter and $2.9 billion for the year.
Key financial metrics highlighted in the report include a narrowed adjusted corporate EBITDA loss of $357 million in Q4 2024, strong corporate liquidity of $1.8 billion, and an improvement in vehicle depreciation by 19% year-over-year. The company also completed a 30,000 EV fleet reduction, part of its strategic fleet rotation, aiming to normalize depreciation per unit by the end of 2025.
Despite challenges like increased direct vehicle and operating expenses due to insurance costs and lease expenses, Hertz continues its operational transformation strategy, focusing on structural efficiencies and customer satisfaction. The company is optimistic about executing its transformation plans in 2025, confident in delivering sustainable value to its stakeholders.
