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8-K ·Filed Aug 6, 2026

HTZ

HERTZ GLOBAL HOLDINGS, INC
MIXED
Impact 6/10
Horizonweeks Processed2mo ago SEC0001657853-26-000045
8-K Item 2.02: Earnings release
Actionable Insight ◆ Mixed

The core rental business is showing clear operational improvement (revenue +10%, RPD +9%, EBITDA +$63M) but recall headwinds and rising depreciation (DPU +18%) cap earnings power. The adjusted EPS beat of 55% vs consensus is notable but driven by non-operational items (warrant revaluation, asset sale gains). Watch for Q3 guidance on recall normalization and DPU trajectory toward the $300 target — if recalls abate, the stock could re-rate higher. The Oro Mobility AV partnership with Uber is a long-term catalyst but not near-term material.

DirectionMixed
Confidencehigh
Horizonweeks
Latest settled — T+20d
HTZ ▲ +12.38% at T+20d
NEUTRAL call +12.38% · α vs SPY +11.78% · entry $2.02 → $2.27
Next anchor: T+60d in 3d
Latest observation: T+55 +308.02% FF3 residual α
Entry = T+0 close
Aug 6, 2026
via day close
T+1d
+12.38%
call +12.38% · α +11.76%
$2.27
settled 3mo ago
T+5d
+16.09%
call +16.09% · α +14.88%
$2.35
settled 3mo ago
T+20d
+12.38%
call +12.38% · α +11.78%
$2.27
settled 8w ago
T+60d
Pending
in 3d

Price Chart

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Executive Summary

Hertz reported Q2 2026 revenue of $2.396B (+10% YoY) and GAAP net income of $64M (vs -$294M loss a year ago), but an adjusted net loss of -$47M. Adjusted Corporate EBITDA of $81M beat the top end of revised guidance and improved $63M YoY. The company continues to face headwinds from elevated vehicle recalls (~$30M EBITDA impact) and rising depreciation costs (DPU +18% YoY), but strong pricing (RPD +9%) and commercial momentum drove the top line.

Key Financial Metrics

EPS
−$0.11
est −$0.24 · +54.2%
Revenue
$2.4B
est $2.3B · +5.1% · +9.7% YoY
Rating
beat
Free Cash Flow
$162.0M

Key Facts

  • Revenue $2.396B, +10% YoY, driven by strongest Q2 RPD on record (ex-2022)
  • GAAP net income $64M vs -$294M loss YoY; Diluted GAAP EPS $0.05
  • Adjusted net loss -$47M; Adjusted Diluted EPS -$0.11 (vs consensus -$0.24, beat)
  • Adjusted Corporate EBITDA $81M, +$63M YoY, above top end of revised guidance
  • Net DPU $302, +18% YoY, in line with revised guidance; expects full-year DPU at or below $300
  • Recall headwind ~$30M to Adjusted Corporate EBITDA; impacted ~15,000 vehicles
  • Liquidity $984M at quarter-end; issued $350M Exchangeable First Lien Notes in June
  • Oro Mobility drivers completed >6M miles; AV partnership with Uber on track for H2 2026

Financial Impact

Revenue +10% YoY to $2.396B; Adjusted Corporate EBITDA $81M vs $18M YoY; GAAP net income swing of +$358M YoY

revenueepsebitdaliquiditydilution

Risk Factors

  • Vehicle recall activity remains elevated (~300% YoY) and unpredictable, impacting utilization and EBITDA
  • Net DPU rose 18% YoY to $302; fleet aging and residual value risk could pressure depreciation further
  • Stockholders' equity deficit widened to -$628M; total debt $18.7B vs market cap ~$493M — high leverage
  • Adjusted net loss persists (-$47M); GAAP profitability driven by non-cash warrant gains and asset sales
  • LTM Adjusted Corporate EBITDA remains negative at -$59M; net corporate leverage not meaningful

Market Snapshot

Exchange
Nasdaq
Sector
Services-Auto Rental & Leasing (No Drivers)
Analyst Consensus
0% bullish (16 analysts)

Investment Themes

Services

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001657853-26-000045
Document: htz-20260806.htm0001657853-26-000045
Document: 0001657853-26-000045-index-headers.html0001657853-26-000045
Document: 0001657853-26-000045-index.html0001657853-26-000045
Document: 0001657853-26-000045.txt0001657853-26-000045
8-K Data (Synthetic)0001657853-26-000045
12 reports for HTZ
Performance horizon
100% Hit rate @ T+60 3 of 3 directional calls Went positive at some point 5 of 6 best @ T+60▲ +32.09%Jun 25, 2026
Filters
Rows
Reports for HTZ — sortable, filterable
TypeNow
Oct 21, 2026
5d ago
SC 13D/A
BULLISH ★ 6/10
$2.18awaiting T+60—$2.01 (−8.03%)
Oct 20, 2026
7d ago
8-K
NEUTRAL ★ 5/10
$1.92awaiting T+60—$2.01 (+4.43%)
Oct 13, 2026
13d ago
3
NEUTRAL ★ 1/10
$1.85awaiting T+60—$2.01 (+8.38%)
Oct 5, 2026
21d ago
SC 13D/A
BULLISH ★ 6/10
$2.06awaiting T+60—$2.01 (−2.67%)
Oct 1, 2026
25d ago
8-K
BULLISH ★ 5/10
$1.76awaiting T+60—$2.01 (+13.92%)
Aug 6, 2026
11w ago
8-K
MIXED ★ 6/10
$2.02awaiting T+60—$2.01 (−0.74%)
Jul 23, 2026
13w ago
8-K
NEUTRAL ★ 3/10
$1.81 $1.84▲ +1.66%▼ −2.07%$2.01 (+10.77%)
Jun 29, 2026
17w ago
8-K
BEARISH ★ 7/10
$2.27 $1.74▲ +23.18%▲ +26.00%$2.01 (+11.48%)
Jun 26, 2026
17w ago
424B5
BEARISH ★ 7/10
$2.30 $1.85▲ +19.57%▲ +23.93%$2.01 (+12.83%)
Jun 25, 2026
17w ago
8-K
BEARISH ★ 6/10
$2.68 $1.82▲ +32.09%▲ +35.94%$2.01 (+25.19%)
Showing 10 of 12

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Report published Aug 6, 2026