Hertz Beats Q2 EBITDA Guidance, Revenue Up 10% on Record Pricing
HTZ sits 19% above its 52-week low of $1.45.
Summary
Hertz delivered Q2 revenue of $2.4B, up 10% YoY, beating analyst estimates, with Adjusted Corporate EBITDA of $81M beating the top end of its recently lowered guidance. Record RPD and an 8% RPU increase drove the beat, while Net DPU held at $302. The company ended the quarter with $984M in liquidity, in line with its target, and narrowed its loss, beating earnings estimates. This follows a turbulent June that saw a $100M equity raise, $350M in exchangeable notes, and a sharp guidance cut due to used-car weakness. The strong pricing and EBITDA beat suggest the commercial playbook is gaining traction, though recall headwinds persisted. Full-year RPU is now expected above the $1,500 North Star target, and the young fleet should support better economics ahead.
At the time of this announcement, HTZ was trading at $1.72 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $550.4M. The 52-week trading range was $1.45 to $8.18. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.