Q2 25 EPS
$-0.34
BEAT +17.44%
Est. $-0.41
Q2 25 Revenue
$2.19B
BEAT +0.72%
Est. $2.17B
vs S&P Since Q2 25
-81.7%
TRAILING MARKET
HTZ -64.7% vs S&P +17.0%
Market Reaction
Did HTZ Beat Earnings? Q2 2025 Results
Hertz Global Holdings delivered a notable turnaround story in Q2 2025, posting an adjusted diluted loss of $0.34 per share and beating the consensus estimate of $0.41 by 17.44%, while revenue of $2.19 billion edged past expectations by 0.72% despite … Read more Hertz Global Holdings delivered a notable turnaround story in Q2 2025, posting an adjusted diluted loss of $0.34 per share and beating the consensus estimate of $0.41 by 17.44%, while revenue of $2.19 billion edged past expectations by 0.72% despite falling 7.1% year-over-year. The most material driver behind the improvement was a dramatic reset of the company's fleet economics, with depreciation per unit per month plunging 58% year-over-year to $251, well below management's sub-$300 target, as Hertz executed its "Buy Right, Hold Right, Sell Right" strategy. That discipline helped swing adjusted free cash flow to positive $327 million from negative $553 million a year earlier, and narrowed the net loss to $294 million from $865 million in Q2 2024. Vehicle utilization climbed to 83%, up 300 basis points year-over-year, and the company achieved its first positive Adjusted Corporate EBITDA in nearly two years, at $1 million compared to negative $460 million in the prior-year period.
Key Takeaways
- • Depreciation per unit per month fell 58% YoY to $251, exceeding sub-$300 North Star target
- • Vehicle utilization reached 83%, up 300 basis points year-over-year
- • Nearly 80% of the core U.S. rental fleet is less than a year old
- • Direct operating expenses declined 3% year-over-year
- • Highest second-quarter retail vehicle sales volume in five years
- • Global Net Promoter Score improved by 11 points year-over-year
- • Net income and Adjusted Corporate EBITDA both improved approximately $0.5 billion year-over-year
- • First quarter of positive Adjusted Corporate EBITDA in nearly two years
HTZ YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
HTZ Revenue by Segment
With YoY comparisons, source: SEC Filings
HTZ Revenue by Geography
With YoY comparisons, source: SEC Filings
“Our transformation is taking hold. 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.”
— Gil West, Q2 2025 Earnings Press Release
HTZ Earnings Trends
HTZ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HTZ EPS Trend
Earnings per share: estimate vs actual
HTZ Revenue Trend
Quarterly revenue: estimate vs actual
HTZ Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-0.72 | $-0.72 | -0.28% | $2.00B | +5.69% |
| Q4 25 MISS FY | $-0.52 | $-0.72 | -39.70% | $2.03B | +4.85% |
| FY Full Year | $-1.85 | $-2.43 | -31.42% | $8.50B | +0.32% |
| Q3 25 BEAT | $0.07 | $0.42 | +543.19% | $2.48B | +3.20% |
| Q2 25 BEAT | $-0.41 | $-0.34 | +17.44% | $2.19B | +0.72% |
| Q1 25 MISS | $-0.98 | $-1.12 | -14.62% | $1.81B | -9.82% |