Hertz Q3 2024 net loss $1.3B ($4.34/sh) includes $1.0B impairment; adj loss $0.68/sh

HERTZ GLOBAL HOLDINGS, INC

2024-Q3 EPS reported -$7.79 revenue$7,009,000,000

Revenue $2.6B, down 5% YoY; GAAP net loss $1.332B vs income $629M a year ago.
Non-cash asset impairment charge of $1.0B due to decline in fleet residual values.
Adjusted net loss $208M ($0.68 loss per diluted share); Adjusted Corp EBITDA -$157M.
Vehicle depreciation $937M, DPU $537 vs $284 YoY; expects DPU to normalize under $300 by end 2025.
Americas RAC segment Adj EBITDA -$169M; International RAC Adj EBITDA $63M, down 42%.

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