Hertz Global Holdings, Inc. (HTZ) Q3 2024 Earnings Breakdown

Key Highlights:

• Net Loss: Hertz Global reported a net loss of $(1.332) billion for Q3 2024 compared to a net income of $629 million in Q3 2023.
• Revenue Decline: Total revenues decreased slightly to $2.576 billion in Q3 2024 from $2.703 billion in Q3 2023.
• Significant Impairment Charge: A Long-Lived Assets impairment charge of $1.048 billion significantly impacted the net loss in Q3 2024.
• Adjusted Corporate EBITDA: Despite the net loss, Adjusted Corporate EBITDA was $(157) million in Q3 2024, compared to $359 million in the prior year quarter.
• Share Repurchases Halted: The share repurchase program is temporarily suspended from April 16, 2024, through April 1, 2025, due to debt covenants.
• New CFO Appointment: Sandeep Dube was appointed as the new Executive Vice President and Chief Financial Officer, receiving a sign-on equity package and a promotional equity award.