EarningsQ1 2026 Earnings Report
MX:HTZ1 Q1 2026 EPS Results
Actual EPS-$13.60
Consensus EPS-$13.56
Beat/MissMissed by -$0.04
One Year Ago EPS-$21.15
MX:HTZ1 Q1 2026 Revenue Results
Actual Revenue$37.84B
Expected Revenue$35.59B
Beat/MissBeat by +$2.25B
YoY Revenue Growth+10.54%
Earnings Announcement Details
QuarterQ1 2026
Date05/07/2026
TimeBefore Open
Conference CallThursday, May 7, 2026
MX:HTZ1 Upcoming Earnings
Hertz Global's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
MX:HTZ1 Q1 2026 Earnings Call
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Q1 2026 Earnings Slide Deck
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call emphasizes materially improved top-line momentum, improving unit economics and strategic progress on building a mobility platform (Oro) while acknowledging significant near-term headwinds from elevated recalls, ongoing GAAP losses and a modest pullback in capacity guidance. The operational and commercial trends (double-digit revenue growth vs. recent years, RPD gains, improved adjusted EBITDA performance, partnerships and product launches) are substantial positives that management believes will drive continued progress, but meaningful execution risk remains in managing recalls, returning to sustained profitability and scaling new mobility businesses.Company Guidance
Strong Revenue Growth
Revenue of $2.0 billion in Q1 2026, up 11% year-over-year — the company's strongest year-over-year revenue growth in three years; sequential improvements in RPU and RPD throughout the quarter.
Meaningful EBITDA and Profitability Progress
Adjusted corporate EBITDA improved by $141 million year-over-year (nearly a 50% improvement) to negative $161 million; adjusted net loss improved by approximately $105 million year-over-year to negative $224 million; adjusted EPS was negative $0.72, a $0.35 improvement versus prior-year quarter; EBITDA margin improved by ~860 basis points to -8% from -17%.
Revenue Per Day (RPD) and Transaction Momentum
RPD rose approximately 5–5.5% year-over-year with transaction days up around 3%; U.S. airport RPD up about 8–9%; RPD-to-DOE-per-day spread improved by ~12% year-over-year, indicating better unit-level economics.
Fleet Economics and Fleet Management Progress
Gross depreciation per unit per month was $296; net DPU for the quarter was $312 (including $16 impact from losses on sales). Management highlighted the youngest fleet in nearly a decade, improved residual values through the quarter, disciplined fleet rotation and that they hit DPU North Star previously and are tracking to hit fleet targets again.
Operational and Customer Experience Improvements
Significant customer-experience gains: a 50% improvement in Net Promoter Score last year continued into Q1, record NPS in Europe for the quarter, Hertz named the only rental car company on USA Today's Most Trusted Brands 2026 list, and top YoY improvement on Business Travel News satisfaction — service initiatives rolled out across top U.S. airports.
Mobility Platform Launch (Oro) and Strategic Partnerships
Unveiled Oro mobility business with an expanded Uber partnership; Oro currently operates an owned/operated fleet, employs over 1,000 drivers, has logged >4 million miles on the Uber platform across markets (Atlanta, Los Angeles, San Francisco, Northern New Jersey) and joined Uber's autonomous robo-taxi program — management views Oro as a potential high-growth, value-accretive asset.
Car Sales, F&I and Omnichannel Growth
Progress in omnichannel car sales with partnerships (Amazon Autos, new eBay partnership) and Cox Automotive tools; best quarter in 3.5 years for finance & insurance (F&I) revenue, which should scale as car sales volume grows and enhance unit economics.
Liquidity Enhancements
Ended Q1 with $837 million of liquidity (cash + revolver capacity); completed an ABS financing in April adding $200 million; management expects just under $1.0 billion of liquidity at end of Q2 and north of $1.5 billion by year-end with additional enhancements planned.
Holiday/Seasonal Execution Demonstrating Strength
April performance and Easter: utilization hits highest Easter since 2017, RPD up 10% versus last Easter, and RPU on rentable fleet up 16% year-over-year despite ~20,000 fewer rental vehicles — marks seventh consecutive major holiday with YoY gains in both utilization and RPD.
MX:HTZ1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed