Hertz Global Holdings, Inc · NASDAQ:HTZ
Hertz Global — Q3 2024 Earnings Presentation
17 slides from Hertz Global's earnings presentation, Nov 12, 2024
Slide 1: Hertz Global Holdings Inc. Q3 2024 Earnings Presentation
HERTZ GLOBAL HOLDINGS INC. Q3 2024 EARNINGS PRESENTATION November 12, 2024
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 106 years of operations 11,400 $9.4B 550K locations annual revenue vehicles 160 27,000 25M countries employees annual rentals INVESTOR PRESENTATION | Q3 2024 Note: Data For Full Year 2023 3
Slide 4: Hertz Brands
HERTZ BRANDS Multiple brands provide customers a full range of mobility services INVESTOR PRESENTATION | Q3 2024 4
Slide 5: Global Q3 Results – Year over Year
GLOBAL Q3 RESULTS – YEAR OVER YEAR Q3 2023 Q3 2024 COMMENTARY The Company remained disciplined on capacity and prioritized rate REVENUE . . . . . . . . . . . . . . . . . $2.7B $2.6B (5)% which impacted volume. Volume was down YoY in lower yielding channels driven by the decision TRANSACTION DAYS . .
Slide 6: Global Q3 Results – Sequential
GLOBAL Q3 RESULTS – SEQUENTIAL Q2 2024 Q3 2024 COMMENTARY REVENUE . . . . . . . . . . . . . . . . . $2.4B $2.6B 10% Both RPD and volume increased. TRANSACTION DAYS . . . . . . 39.7M 41.3M 4% Growth was led by higher-margin leisure demand. Increase was led by higher-margin leisure segments; supported
Slide 7: Building Blocks of Our Strategy
BUILDING BLOCKS OF OUR STRATEGY REVISED METRIC TARGET COMMENTARY • Fleet refresh / rotate out of high priced vehicles in FY24/25 • Refresh is well underway, with ~45% of the fleet now model Depreciation per Low $300s FLEET year '24 or '25 unit per month Under $300 • Current deals support target; veh
Slide 8: Capacity Discipline Improves RPU
CAPACITY DISCIPLINE IMPROVES RPU GLOBAL RPU - YOY (7%) (5%) (3%) Revenue per unit dynamics $1,610 $1,567 $1,418 $1,527 $1,446 • 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 Q3 ◦ focusing on h
Slide 9: Corporate Debt and Liquidity
CORPORATE DEBT AND LIQUIDITY NON-VEHICLE DEBT MATURITY PROFILE SOLID LIQUIDITY POSITION AT SEPTEMBER 30, 2024* AT SEPTEMBER 30, 2024 $2,000 • Liquidity of $1.6B $1,696 • $0.5B of unrestricted cash • $1.1B available under First Lien RCF • No meaningful corporate debt maturities until 2026 $768 $4 $18
Slide 10: 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 | Q3 2024 10
Slide 11: Appendix
Hertz dollar: Thrifty ——
Slide 12: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION (In Millions) Q3 2024 Q2 2024 Q3 2023 HERTZ GLOBAL HOLDINGS, INC. RECONCILIATION OF GAAP TO NON-GAAP Adjusted Corporate EBITDA: MEASURE – ADJUSTED CORPORATE EBITDA Net Income (Loss) $(1,332) $(865) $629 Adjusted Corporate EBITDA represents income or loss attributable to the A
Slide 13: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION (In Millions) Q3 2024 Q2 2024 Q3 2023 HERTZ GLOBAL HOLDINGS, INC. 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 $894 $546 $851 AND ADJUST
Slide 14: Global Key Metrics
GLOBAL KEY METRICS Transaction Days ("Days"; also referred to as ($ In Millions, Except Where Noted) Q3 2024 Q2 2024 Q3 2023 "volume") Transaction Days represents the total number of 24-hour Total RPD periods, with any partial period counted as one Revenues $2,576 $2,353 $2,703 Transaction Day, that
Slide 15: Global Key Metrics
GLOBAL KEY METRICS Total Revenue Per Unit Per Month ("Total RPU", ($ In Millions, Except Where Noted) Q3 2024 Q2 2024 Q3 2023 "RPU" or "Total RPU Per Month") Total RPU Total RPU Per Month represents the amount of revenue Total Revenues – Adjusted for Foreign Currency $2,586 $2,369 $2,716 generated p
Slide 16: Global Key Metrics
GLOBAL KEY METRICS ($ In Millions, Except Where Noted) Q3 2024 Q2 2024 Q3 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) 41,298 39,721 43,095 Average
Slide 17: DOE per Day
DOE PER DAY ($ In Millions, Except Where Noted) Q3 2024 Q2 2024 Q3 2023 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. DOE per Day i
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