secwatch.observer — SEC 8-K summary
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Issuer:     HERTZ GLOBAL HOLDINGS, INC (HTZ)
CIK:        0001657853
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0001657853-24-000109
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hertz posts $865M GAAP net loss in Q2 2024; adjusted EPS -$1.44
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- Revenue $2.353B (-3% YoY); GAAP net loss $865M ($2.82 diluted loss per share) vs $139M profit year ago.
- Adjusted net loss $440M ($1.44 adj. diluted loss per share) vs $227M adj. profit in Q2 2023.
- Adjusted Corporate EBITDA negative $460M (-20% margin) driven by $706M increase in vehicle depreciation.
- Depreciation per unit per month (DPU) rose to $600 from $197; expects DPU to normalize in low $300s after fleet refresh by end 2025.
- Raised $1B during quarter to bolster liquidity; corporate liquidity $1.8B at June 30, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1657853/000165785324000109/0001657853-24-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/47129/000165785324000109/htz-20240801.htm
  HTML page:      https://secwatch.observer/filing/0001657853-24-000109

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer