Hertz Global Holdings, Inc · NASDAQ:HTZ
Hertz Global — Q4 2024 Earnings Presentation
17 slides from Hertz Global's earnings presentation, Feb 13, 2025
Slide 1: Hertz Global Holdings, Inc. Q4 2024 Earnings Presentation
HERTZ GLOBAL HOLDINGS, INC. Q4 2024 EARNINGS PRESENTATION
Slide 2: Important Disclosures
IMPORTANT DISCLOSURES FORWARD-LOOKING STATEMENTS NON-GAAP MEASURES AND KEY METRICS Certain statements made within this presentation contain The following non-GAAP measures and key metrics are used in the forward-looking statements. Forward-looking statements are presentation: not guarantees of futur
Slide 3: Hertz – A Global Leader in Car Rental
HERTZ – A GLOBAL LEADER IN CAR RENTAL Over 100 years of operations 11,200 $9.0B 560K locations annual revenue vehicles 160 26,000 25M countries employees annual rentals INVESTOR PRESENTATION | Q4 2024 Note: Data For Full Year 2024 3
Slide 4: Hertz Global Brands
HERTZ GLOBAL BRANDS Multiple brands provide customers a full range of mobility services INVESTOR PRESENTATION | Q4 2024 4
Slide 5: Global Q4 Results – Year Over Year
GLOBAL Q4 RESULTS – YEAR OVER YEAR Q4 2023 Q4 2024 COMMENTARY Decrease was primarily driven by lower volume and a slight decline in REVENUE . . . . . . . . . . . . . . . . . $2.2B $2.0B (7)% rate. Volume was down YoY in lower yielding channels driven by our decision TRANSACTION DAYS . . . . . . 37.6
Slide 6: Global Q4 Results – Sequential
GLOBAL Q4 RESULTS – SEQUENTIAL Q3 2024 Q4 2024 COMMENTARY REVENUE . . . . . . . . . . . . . . . . . $2.6B $2.0B (21)% In line with seasonality of the business. TRANSACTION DAYS . . . . . . 41.3M 36.0M (13)% In line with seasonality of the business. RPD . . . . . . . . . . . . . . . . . . . . . . . $
Slide 7: Global Full Year Results – Year Over Year
GLOBAL FULL YEAR RESULTS – YEAR OVER YEAR FY 2023 FY 2024 DRIVERS REVENUE . . . . . . . . . . . . . . . . . $9.4B $9.0B (3)% Decrease was driven by a decline in rate; volume was relatively flat. Higher leisure volume YoY was offset by decreased volume in lower TRANSACTION DAYS . . . . . . 154.2M 153
Slide 8: Building Blocks of Our Strategy
BUILDING BLOCKS OF OUR STRATEGY METRIC TARGET COMMENTARY • Fleet refresh / rotate out of high priced vehicles in FY24/25 • Refresh is well underway. Over 60% of our fleet is comprised Depreciation per FLEET of vehicles 1 year old or less unit per month Under $300 • Current deals support target; vehi
Slide 9: Capacity Discipline Improves RPU
CAPACITY DISCIPLINE IMPROVES RPU GLOBAL RPU - YOY (7%) (5%) (3%) (1%) Revenue per unit dynamics $1,610 $1,567 $1,418 $1,527 $1,446 $1,391 $1,376 • Key focus areas: $1,316 ◦ keeping vehicle supply within the demand curve ◦ sweating our assets with pricing discipline to maximize revenue per unit Q1 Q2
Slide 10: Corporate Debt and Liquidity
CORPORATE DEBT AND LIQUIDITY NON-VEHICLE DEBT MATURITY PROFILE SOLID LIQUIDITY POSITION AT DECEMBER 31, 2024* AT DECEMBER 31, 2024 $2,500 • Liquidity of $1.8B • $592M of unrestricted cash • $1.25B available under First Lien RCF $1,696 • Non-vehicle Debt of $5.1B • Issued $500M of 1L notes due 2029 i
Slide 11: Contact Us
CONTACT US Hertz Global Holdings, Inc. Johann Rawlinson Investor Relations Vice President Investor Relations 8501 Williams Rd, Estero, FL 33928 Krista Carey Senior Director Investor Relations Investorrelations@hertz.com INVESTOR PRESENTATION | Q4 2024 11
Slide 12: Appendix
APPENDIX
Slide 13: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION HERTZ GLOBAL HOLDINGS, INC. (In Millions) Q4 2024 Q3 2024 Q4 2023 FY 2024 FY 2023 RECONCILIATION OF GAAP TO NON-GAAP Adjusted Corporate EBITDA: MEASURE – ADJUSTED CORPORATE EBITDA Net Income (Loss) $(479) $(1,332) $(348) $(2,862) $616 Adjusted Corporate EBITDA represents inco
Slide 14: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION HERTZ GLOBAL HOLDINGS, INC. (In Millions) Q4 2024 Q3 2024 Q4 2023 FY 2024 FY 2023 RECONCILIATION OF GAAP TO NON-GAAP Adjusted Operating Cash Flow And Adjusted Free Cash Flow: MEASURES – ADJUSTED OPERATING CASH FLOW Net cash provided by (used in) operating activities $414 $894
Slide 15: Global Key Metrics
GLOBAL KEY METRICS Transaction Days ("Days"; also referred to as "volume") ($ In Millions, Except Where Noted) Q4 2024 Q3 2024 Q4 2023 FY 2024 FY 2023 Transaction Days represents the total number of 24-hour periods, with any partial period counted as one Transaction Day, that vehicles were on rent T
Slide 16: Global Key Metrics
GLOBAL KEY METRICS ($ In Millions, Except Where Noted) Q4 2024 Q3 2024 Q4 2023 FY 2024 FY 2023 Available Rental Car Days Available Rental Car Days represents Average Rentable Vehicles multiplied Vehicle Utilization by the number of days in a given period. Transaction Days (In Thousands) 35,998 41,29
Slide 17: DOE Per Day
DOE PER DAY ($ In Millions, Except Where Noted) Q4 2024 Q3 2024 Q4 2023 FY 2024 FY2023 Direct Operating Expense per Transaction Day (“DOE per Day”) DOE per Day is calculated as Direct Operating Expenses divided by the DOE per Transaction Day – as reported number of Transaction Days during the period
Hertz Global Holdings — Q4 2024 Earnings Presentation on 6ix