Hertz reports Q1 GAAP net loss $186M; adjusted EBITDA negative $567M

HERTZ GLOBAL HOLDINGS, INC

2024-Q1 EPS reported -$0.61 revenue$2,080,000,000

GAAP net loss $186M ($0.61 loss per diluted share); adjusted net loss $392M ($1.28 per share).
Adjusted Corporate EBITDA -$567M (-27% margin) vs +$237M in Q1 2023.
Vehicle depreciation surged $588M YoY, including $195M charge for EVs held for sale.
EV disposition plan increased by 10k to 30k vehicles for sale in 2024.
Revenue up 2% to $2.1B; transaction days up 9% but RPD down 7%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

HERTZ GLOBAL HOLDINGS, INC reported first quarter 2024 results: revenue $2.1 billion, net income GAAP net loss of $186 million, EPS $0.61 loss per diluted share.

Period: first quarter 2024
Revenue: $2.1 billion
Net income: GAAP net loss of $186 million
EPS: $0.61 loss per diluted share
Result: reported results

Exact text from the filing

April 25, 2024 - Hertz Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz", "Hertz Global" or the "Company") today reported results for its first quarter 2024. OVERVIEW • Revenue of $2.1 billion • GAAP net loss of $186 million, a negative 9% margin, or $0.61 loss per diluted share • Adjusted net loss of $392 million, or $1.28 loss per diluted share • Adjusted Corporate

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Source: SEC EDGAR

accession 0001657853-24-000060

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