Hertz Q2 2026 Earnings Overview
Hertz Global Holdings Inc announced its second‑quarter 2026 results on Thursday, showing an adjusted net loss of $47 million, or 11 cents per diluted share, compared with an adjusted loss of $91 million, or 29 cents per share, in the same quarter a year earlier. Revenue increased 10 percent year‑over‑year to $2.40 billion, and adjusted corporate EBITDA rose to $81 million, surpassing the high end of the company’s revised guidance.
The company highlighted that revenue per unit grew 8 percent and revenue per day climbed 9 percent, driven by record rental pricing and strong commercial execution. Vehicle utilization improved to 79 percent, or 81 percent when excluding the impact of vehicle recalls. The spread between revenue per day and direct operating expenses widened by 17 percent for the third consecutive quarter.
Hertz disclosed that vehicle recalls were roughly three times higher than a year earlier, affecting an average of about 15,000 vehicles during the quarter. The recall activity reduced GAAP net income by approximately $27 million and lowered adjusted EBITDA by roughly $30 million. Despite the recall drag, the fleet was only 1 percent smaller than a year ago.
Chief Executive Officer Gil West said disciplined execution and commercial strength drove the operational improvements while the transformation strategy continued to gain momentum. He reaffirmed the long‑term target of exceeding $1,500 in full‑year revenue per unit and maintaining full‑year net depreciation per unit at or below $300.
Following the release, Hertz shares rallied 13 percent in pre‑market trading. The company ended the quarter with $984 million in liquidity and expressed confidence that it has sufficient resources to fund its ongoing transformation initiatives.