Stock Market Live July 2, 2026: S&P 500 (SPY) Flat with New Jobs Data
Q3 25 EPS
$0.42
BEAT +543.19%
Est. $0.07
Q3 25 Revenue
$2.48B
BEAT +3.20%
Est. $2.40B
vs S&P Since Q3 25
-79.0%
TRAILING MARKET
HTZ -69.5% vs S&P +9.5%
Market Reaction
Did HTZ Beat Earnings? Q3 2025 Results
Hertz Global Holdings delivered a landmark Q3 2025, posting its first return to GAAP profitability in two years and blowing past Wall Street expectations by a wide margin. The rental car company reported diluted EPS of $0.42, exceeding the $0.07 cons… Read more Hertz Global Holdings delivered a landmark Q3 2025, posting its first return to GAAP profitability in two years and blowing past Wall Street expectations by a wide margin. The rental car company reported diluted EPS of $0.42, exceeding the $0.07 consensus estimate by 543.19%, while revenue of $2.48 billion topped forecasts by 3.20%, even as total revenue slipped 3.8% year-over-year amid a deliberately smaller fleet. The single most consequential driver was the near-completion of Hertz's fleet refresh strategy, which drove depreciation per unit per month down 49% year-over-year to $273, hitting the company's sub-$300 North Star target and swinging Adjusted Corporate EBITDA to $190 million from deeply negative territory a year ago. Vehicle utilization climbed to 84%, the highest since 2018, with revenue per unit reaching $1,530 per month. Shares surged 37% following the report, reflecting investor enthusiasm for the turnaround. With Model Year 2026 procurement secured and sub-$300 depreciation targeted through next year, Hertz appears positioned to sustain its recovery into 2026.
Key Takeaways
- • Completion of transformative fleet refresh reducing depreciation per unit per month by 49% YoY to $273
- • Vehicle utilization reached 84%, highest since 2018
- • Expanded retail vehicle sales channels, with retail share up 570 basis points in 2025 vs first nine months of 2024
- • Direct operating expenses declined 1% year-over-year through rigorous cost control
- • $154 million legal settlement gain from class action distribution
- • $39 million gain on sale of non-vehicle capital assets
- • Nearly 50% YoY increase in North America Net Promoter Score
- • Adjusted Corporate EBITDA surged approximately $350 million year-over-year to $190 million
HTZ YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
HTZ Revenue by Segment
With YoY comparisons, source: SEC Filings
HTZ Revenue by Geography
With YoY comparisons, source: SEC Filings
“This quarter proves that we're delivering on our commitments: driving strong results through focused execution and operational discipline.”
— Gil West, Q3 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% |