Hertz posts Q4 net loss of $348M; EV write-down drives adjusted EBITDA loss of $382M

HERTZ GLOBAL HOLDINGS, INC

2023-FY EPS reported $1.39 revenue$9,371,000,000

Q4 revenue $2.2B (+7% YoY); GAAP net loss $348M ($1.14 loss per diluted share) vs net income $116M in Q4 2022.
Adjusted net loss $418M ($1.36 loss per diluted share); adjusted Corporate EBITDA -$382M (negative 17% margin).
Includes $245M of incremental net depreciation expense from EVs held for sale; depreciation per unit per month rose to $498 from $242.
Full-year 2023 revenue $9.4B; GAAP net income $616M ($1.39 diluted EPS); adjusted net income $172M ($0.53 diluted EPS).
Company repurchased 19.4M shares for $291M during FY 2023; corporate liquidity $2.0B at Dec 31.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HERTZ GLOBAL HOLDINGS, INC reported fourth quarter and full year 2023 results: revenue $2.2 billion, net income $348 million, EPS $1.14 loss per diluted share.

Period: fourth quarter and full year 2023
Revenue: $2.2 billion
Net income: $348 million
EPS: $1.14 loss per diluted share
Result: reported results

Exact text from the filing

Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz", "Hertz Global" or the "Company") today reported results for its fourth quarter and full year 2023. OVERVIEW Q4 2023 • Revenue of $2.2 billion • GAAP net loss of $348 million, a negative 16% margin, or $1.14 loss per diluted share • Adjusted net loss of $418 million, or $1.36 loss per diluted share • Adjusted Corporate

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HERTZ GLOBAL HOLDINGS, INC reported full year 2023 results: revenue $9.4 billion, net income $616 million, EPS $1.39 per diluted share.

Period: full year 2023
Revenue: $9.4 billion
Net income: $616 million
EPS: $1.39 per diluted share
Result: reported results

Exact text from the filing

vehicles ("EV") • GAAP operating cash flow of $564 million • Adjusted operating cash outflow of $366 million and adjusted free cash outflow of $128 million FY 2023 • Revenue of $9.4 billion • GAAP net income of $616 million, a 7% margin, or $1.39 per diluted share • Adjusted net income of $172 million, or $0.53 per diluted share • Adjusted Corporate EBITDA of $561

View on SEC.gov

4 earnings releases filed in the last 30 days. Browse all earnings releases →

HERTZ GLOBAL HOLDINGS, INC filing history →

Source: SEC EDGAR

accession 0001657853-24-000019

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.