--- title: "Hertz Global | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 2.004 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/285553800.md" datetime: "2026-05-07T12:40:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285553800.md) - [en](https://longbridge.com/en/news/285553800.md) - [zh-HK](https://longbridge.com/zh-HK/news/285553800.md) --- # Hertz Global | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 2.004 B Revenue: As of FY2026 Q1, the actual value is USD 2.004 B, beating the estimate of USD 1.896 B. EPS: As of FY2026 Q1, the actual value is USD -1.06, missing the estimate of USD -0.785. EBIT: As of FY2026 Q1, the actual value is USD 173 M. #### Consolidated Financial Highlights (Three Months Ended March 31, 2026 vs. 2025) #### Revenue - Total revenues for Hertz Global Holdings, Inc. were $2,004 million in Q1 2026, an 11% increase year-over-year from $1,813 million in Q1 2025, marking the company’s strongest year-over-year revenue growth in three years. #### Operational Metrics - GAAP net loss for the quarter was -$333 million in Q1 2026, an improvement of 25% compared to -$443 million in Q1 2025. - Adjusted net loss was -$224 million in Q1 2026, an improvement of 32% or $105 million year-over-year from -$329 million in Q1 2025. - Adjusted Corporate EBITDA was -$161 million in Q1 2026, an improvement of 47% year-over-year from -$302 million in Q1 2025. - Net income (loss) margin was -17% in Q1 2026, compared to -24% in Q1 2025. - Adjusted Corporate EBITDA Margin was -8% in Q1 2026, compared to -17% in Q1 2025. - Direct vehicle and operating expenses were $1,344 million in Q1 2026, up from $1,274 million in Q1 2025. - Depreciation of revenue earning vehicles and lease charges, net, was $481 million in Q1 2026, down from $535 million in Q1 2025. - Selling, general and administrative expenses were $236 million in Q1 2026, up from $219 million in Q1 2025. - Total interest expense, net, was $256 million in Q1 2026, down from $267 million in Q1 2025. #### Cash Flow - Net cash provided by operating activities was $20 million in Q1 2026, compared to $251 million in Q1 2025. - Adjusted operating cash flow was -$158 million in Q1 2026, compared to -$373 million in Q1 2025. - Adjusted free cash flow was -$466 million in Q1 2026, compared to -$578 million in Q1 2025. #### Liquidity - Hertz Global Holdings, Inc. ended the first quarter with approximately $837 million of liquidity. - In April, the company completed additional financing that added approximately $200 million. #### Segment Performance (Three Months Ended March 31, 2026 vs. 2025) #### Americas RAC Segment - Total revenues were $1,628 million in Q1 2026, a 9% increase from $1,490 million in Q1 2025. - Adjusted EBITDA was -$103 million in Q1 2026, a 56% improvement from -$235 million in Q1 2025. - Adjusted EBITDA Margin was -6% in Q1 2026, compared to -16% in Q1 2025. - Depreciation Per Unit Per Month was $319 in Q1 2026, a 14% improvement from $373 in Q1 2025. - Total RPD was $57.00 in Q1 2026, a 6% increase from $53.77 in Q1 2025. - Total RPU Per Month was $1,353 in Q1 2026, a 5% increase from $1,292 in Q1 2025. - Vehicle Utilization was 79% in Q1 2026, compared to 80% in Q1 2025. - DOE per Transaction Day was $38.44 in Q1 2026, compared to $38.40 in Q1 2025. - Adjusted DOE per Transaction Day was $38.34 in Q1 2026, a 1% increase from $37.90 in Q1 2025. #### International RAC Segment - Total revenues were $376 million in Q1 2026, a 16% increase from $323 million in Q1 2025. - Adjusted EBITDA was -$2 million in Q1 2026, an 80% improvement from -$10 million in Q1 2025. - Adjusted EBITDA Margin was -1% in Q1 2026, compared to -3% in Q1 2025. - Depreciation Per Unit Per Month was $277 in Q1 2026, a 6% improvement from $294 in Q1 2025. - Total RPD was $59.12 in Q1 2026, a 3% increase from $57.28 in Q1 2025. - Total RPU Per Month was $1,352 in Q1 2026, a 4% increase from $1,304 in Q1 2025. - Vehicle Utilization was 76% in both Q1 2026 and Q1 2025. - DOE per Transaction Day was $38.22 in Q1 2026, a 13% increase from $33.69 in Q1 2025. - Adjusted DOE per Transaction Day was $38.22 in Q1 2026, a 3% increase from $37.11 in Q1 2025. #### Unique Metrics and Operational Highlights - Hertz Global Holdings, Inc. reported sequential improvements in Revenue per Unit (RPU) and Revenue Per Day (RPD) metrics, with RPD delivering a 5.5% increase, its most significant year-over-year improvement since 2022. - Utilization was 79% in Q1 2026, a decline of 70 basis points year-over-year, though excluding elevated recalls, Utilization was up 140 basis points compared to Q1 2025. - Net Depreciation per Unit per Month (Net DPU) was $312, representing a 13% year-over-year improvement. - Recall activity was approximately 300% higher year-over-year, reducing Utilization by roughly 200 basis points, impacting Transaction Days by approximately 930,000, and resulting in a revenue impact of about $50 million, with the total impact to Adjusted Corporate EBITDA being more than $25 million. - Hertz Global Holdings, Inc. launched Oro Mobility, an affiliated operating company, to provide driver-led and autonomous end-to-end fleet management solutions to partners across emerging mobility segments, with Uber as a major partner. - Hertz Car Sales expanded its digital retail presence through a new partnership with eBay. - The company continues to drive improvements in customer experience, measuring record satisfaction in Europe in the first quarter. #### Outlook / Guidance - The provided reference does not contain explicit forward-looking statements or guidance regarding specific financial targets or future performance projections. ### Related Stocks - [HTZ.US](https://longbridge.com/en/quote/HTZ.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - 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