The earnings call reflected significant challenges, including a substantial asset impairment and a decrease in transaction days, leading to an adjusted EBITDA loss. However, the company has made strategic advancements in fleet management and cost optimization, with a solid liquidity position. The sentiment is cautious due to ongoing financial pressures despite strategic initiatives.

Company Guidance

During the Hertz Q3 2024 earnings call, the guidance provided focused on the company's strategic direction and financial outlook. Hertz reported third-quarter revenue of $2.6 billion and an adjusted corporate EBITDA loss of $157 million, impacted by a $1 billion noncash asset impairment charge. The call highlighted an anticipated reduction in depreciation per unit (DPU), targeting below $300 by the end of 2025, driven by favorable market conditions and a strategic fleet management approach. The company emphasized a "back-to-basics" strategy centered on fleet optimization, revenue enhancement, and cost management. Transaction days were down 4% year-over-year, and RPD remained flat, while Hertz aimed to improve utilization by reducing out-of-service vehicles and aligning fleet size with demand. Future liquidity management was also discussed, with plans to access capital markets to bolster financial flexibility amidst ongoing operational transformation efforts.

Fleet Management Strategy

Hertz has accelerated fleet rotation with a new vertical dedicated to end-to-end fleet management. The company aims to achieve a DPU below $300 by 2025 due to favorable acquisition conditions and strategic fleet management.

Optimized Utilization and Reduced Costs

The company is focusing on reducing out-of-service vehicles and improving utilization, which could reduce fleet expenses by over $30 million annually. This strategy is expected to improve profitability by leveraging process engineering and technology.

Liquidity Position

Hertz ended the quarter with liquidity of over $1.6 billion, comprising over $500 million of unrestricted cash and over $1.1 billion of available capacity under the revolving credit facility.

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Hertz Global (HTZ) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HTZ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 03, 2025	2024 (Q4)	-0.65 / -	-1.36	―	―	―
Nov 12, 2024	2024 (Q3)	-0.48 / -0.68	0.7	-197.14% (-1.38)
Aug 01, 2024	2024 (Q2)	-1.25 / -1.44	0.72	-300.00% (-2.16)
Apr 25, 2024	2024 (Q1)	-0.45 / -1.28	0.39	-428.21% (-1.67)
Feb 06, 2024	2023 (Q4)	-1.05 / -1.36	0.5	-372.00% (-1.86)
Oct 26, 2023	2023 (Q3)	0.68 / 0.70	1.08	-35.19% (-0.38)
Jul 27, 2023	2023 (Q2)	0.64 / 0.72	1.22	-40.98% (-0.50)
Apr 27, 2023	2023 (Q1)	0.19 / 0.39	0.87	-55.17% (-0.48)
Feb 07, 2023	2022 (Q4)	0.46 / 0.50	0.91	-45.05% (-0.41)
Oct 27, 2022	2022 (Q3)	1.05 / 1.08	1.2	-10.00% (-0.12)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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HTZ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 12, 2024	$3.37	$3.66	+8.61%
Aug 01, 2024	$4.08	$3.77	-7.60%
Apr 25, 2024	$5.80	$4.68	-19.31%
Feb 06, 2024	$8.21	$8.94	+8.89%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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