“Our transformation is taking hold,” said Gil West, CEO of Hertz. “Through smarter fleet management, improved utilization, enhanced customer experience, disciplined cost control, and the hard work of our people, it’s clear our strategy is working. We’re building a stronger, more resilient Hertz – one that’s operationally sound, financially disciplined, and positioned to lead in the future of mobility.”
ESTERO, Fla, August 7, 2025 – Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz,” “Hertz Global,” or the “Company”) today reported results for its second quarter 2025.
HIGHLIGHTS
- Net income and Adjusted Corporate EBITDA both improved ~$0.5 billion year-over-year, marking the Company’s first quarter of positive Adjusted Corporate EBITDA in nearly two years, a result of its disciplined fleet management, operational efficiency, and rigorous cost management
- The Company’s “Buy Right, Hold Right, Sell Right” strategy continued to deliver results:
- Hertz achieved depreciation per unit per month (DPU) of $251, exceeding its North Star target of sub $300 by 16% and building on the momentum from the first quarter of 2025. The Company has secured all of its Model Year 2025 fleet at pre-tariff pricing
- Vehicle Utilization reached 83%, a year-over-year increase of 300 basis points, as the Company executed on fleet optimization with greater precision and agility. Nearly 80% of the core U.S. rental fleet is less than a year old
- Hertz achieved its highest second-quarter retail vehicle sales volume in five years, including through its direct-to-consumer Hertz Car sales, highlighting strong demand
- Direct operating expenses (DOE) declined 3% year-over-year. DOE per transaction day improved both sequentially and year-over-year, reflecting disciplined cost control and operational agility
- The Company’s global Net Promoter Score improved by 11 points year-over-year, underscoring its commitment to service excellence and digital innovation
- The Company ended the quarter with over $1.45 billion in liquidity
EARNINGS WEBCAST INFORMATION
Hertz Global’s live webcast and conference call to discuss its second quarter 2025 results will be held on August 7, 2025 at 9:00 a.m. Eastern Time. The conference call will be broadcast live in listen-only mode on the Company’s Investor Relations website at IR.Hertz.com. If you would like to access the call by phone and ask a question, please go to Hertz Q2 2025 earnings teleco registration, and you will be provided with dial in details. Investors are encouraged to dial in approximately 15 minutes prior to the call. A web replay will remain available on the website for approximately one year. The earnings release and related supplemental schedules containing the reconciliations of non-GAAP measures will be available on the Hertz website, IR.Hertz.com.
ABOUT HERTZ
Hertz Global Holdings, Inc. is one of the world’s leading car rental and mobility solutions providers. Its subsidiaries, including The Hertz Corporation, and licensees operate the Hertz, Dollar, Thrifty, and Firefly vehicle rental brands, with more than 11,000 rental locations in 160 countries around the globe. The Company also operates the Hertz Car Sales brand, which offers a range of quality, competitively priced used cars for sale online and at locations across the United States, and the Hertz 24/7 car-sharing business in Europe. For more information about Hertz, visit www.hertz.com.