Hertz Global Holdings Stock Earnings Reports

Hertz reported strong Q1 2026 results driven by execution of its transformation playbook: revenue grew 11% YoY to $2.0B (the strongest YoY growth in three years), adjusted EBITDA improved by $141M YoY, and RPD (rental price per day) rose ~5% YoY. Management reiterated its three ‘‘North Star’’ metrics (DPU < $300/mo, RPU > $1,500, DOE per day in the low $30s) and said they are on track to hit the RPU and DPU targets for 2026 even as fleet mix is enriched. The company disclosed a significant operational headwind from elevated recalls (near +300%), which sidelined ~16,000 vehicles/month and reduced utilization by ~200 bps, costing roughly $50M in revenue and >$25M of adjusted EBITDA impact in Q1. Despite that, core DOE per day improved when normalized for one-offs, SG&A as a percent of revenue improved, and net DPU for the quarter was $312 (with normal seasonal gain/loss patterns expected across the year). Liquidity stood at $837M at quarter end, with added ABS financing and plans to exit Q2 near $1B and the year north of $1.5B. Management unveiled Oro, a new mobility/orchestration business (partnered with Uber and involved in AV programs) that they believe could become a highly valuable, high-margin platform asset, complementing rent-a-car, fleet sales, F&I, and franchise growth. Guidance: days and fleet growth were trimmed modestly (days to mid-single-digit growth, fleet to low single digits for the year), Q2 days expected down 2–3% YoY, and full-year EBITDA margin guidance was maintained at 3–6% with continued target of $1B EBITDA in 2027.