Quarterly ResultMay 7, 2026, 08:44 AM
Hertz Q1 Revenue +11% to $2.0B; Launches Oro Mobility
AI Summary
Hertz Global Holdings, Inc. reported its first quarter 2026 results, with revenue reaching $2.0 billion, an 11% increase year over year and the strongest growth in three years. Despite reporting a GAAP net loss of $333 million and an Adjusted net loss of $224 million, the company showed significant year-over-year improvements in profitability metrics, including a nearly 50% improvement in Adjusted Corporate EBITDA. Additionally, Hertz announced the launch of Oro Mobility, a new operating company focused on expanding into emerging mobility segments with driver-led and autonomous fleet management solutions.
Key Highlights
- Q1 2026 revenue totaled $2.0 billion, up 11% year over year, marking the strongest growth in three years.
- GAAP net loss for the quarter was $333 million, with diluted GAAP EPS of $(1.06).
- Adjusted net loss was $224 million, an improvement of $105 million year over year.
- Adjusted Corporate EBITDA was $(161) million, improving nearly 50% year over year.
- Net Depreciation per Unit per Month (Net DPU) was $312, a 13% year-over-year improvement.
- Hertz launched Oro Mobility, an affiliated operating company for flexible fleet management solutions.
- The company ended Q1 with approximately $837 million of liquidity and secured an additional $200 million in April.
- Americas RAC segment revenue was $1.628 billion, with Adjusted EBITDA of $(103) million.
- International RAC segment revenue was $376 million, with Adjusted EBITDA of $(2) million.