Hertz Global Holdings, Inc · NASDAQ:HTZ
Hertz Global — Q4 2025 Earnings Presentation
15 slides from Hertz Global's earnings presentation, Feb 26, 2026
Slide 1: Hertz Global Holdings, Inc. Q4 2025 Earnings Presentation
HERTZ GLOBAL HOLDINGS, INC. Q4 2025 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 ~11,000* ~$8.5B ~527K locations annual revenue vehicles ~160* ~26,000 ~24M countries employees annual rentals INVESTOR PRESENTATION | Q4 2025 *includes company operated and franchisee locations Note: Data For Full Year 2025 3
Slide 4: Hertz Global Brands
HERTZ GLOBAL BRANDS Multiple brands provide customers a full range of mobility services INVESTOR PRESENTATION | Q4 2025 4
Slide 5: Back-to-Basics Building Blocks
BACK-TO-BASICS BUILDING BLOCKS METRIC TARGET COMMENTARY • Fleet refresh is complete, marking a major milestone for the Company's transformation Depreciation per • Achieved $300 DPU for 2025. We expect this trend to continue in a stable/positive residual FLEET unit per month Under $300 value environm
Slide 6: Global Q4 Results – Year Over Year
GLOBAL Q4 RESULTS – YEAR OVER YEAR Q4 2024 Q4 2025 COMMENTARY Revenue was flat despite lower fleet levels driven by sequential year-over- REVENUE . . . . . . . . . . . . . . . . . . $2.0B $2.0B —% year improvement in RPD and days. Despite higher recalls, overall result was driven by disciplined flee
Slide 7: Strongest Unit Revenue Environment in ~2 Years – and Accelerating
STRONGEST UNIT REVENUE ENVIRONMENT IN ~2 YEARS – AND ACCELERATING Transaction Days year over year % Total RPD year over year % (0.5)% (1.0)% (1.1)% (2.6)% (3.8)% (4.6)% (8.0)% (5.4)% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 RPD showed sequential improvement on a year over year basis in 2025, positioning the Company
Slide 8: Debt and Liquidity
DEBT AND LIQUIDITY NON-VEHICLE DEBT MATURITY PROFILE * LIQUIDITY POSITION • Liquidity of $1.5B as of December 31, 2025 o $0.6B of unrestricted cash $2,296 $2,250 o $0.9B available under First Lien RCF • Reflects repayment of $300M of 2026 Notes • $0.7B of excess fair market value cushion in ABS faci
Slide 9: Contact Us
CONTACT US Hertz Global Holdings, Inc. Johann Rawlinson Investor Relations Vice President Investor Relations 8501 Williams Rd, Estero, FL 33928 Investorrelations@hertz.com
Slide 10: Appendix
APPENDIX
Slide 11: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION HERTZ GLOBAL HOLDINGS, INC. (In Millions) Q4 2025 Q3 2025 Q4 2024 RECONCILIATION OF GAAP TO NON-GAAP Adjusted Corporate EBITDA: MEASURE – ADJUSTED CORPORATE EBITDA Net Income (Loss) $(194) $(184) $(479) Adjusted Corporate EBITDA represents income or loss attributable to the A
Slide 12: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION HERTZ GLOBAL HOLDINGS, INC. (In Millions) Q4 2025 Q3 2025 Q4 2024 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 $193 $835 $414 AND ADJUST
Slide 13: Global Key Metrics
GLOBAL KEY METRICS Transaction Days ("Days"; also referred to as "volume") ($ In Millions, Except Where Noted) Q4 2025 Q3 2025 Q4 2024 Transaction Days represents the total number of 24-hour periods, with any partial period counted as one Transaction Day, that vehicles were on rent Total RPD (the pe
Slide 14: Global Key Metrics
GLOBAL KEY METRICS ($ In Millions, Except Where Noted) Q4 2025 Q3 2025 Q4 2024 Available Car Days Available Car Days represents Average Rentable Vehicles multiplied by the Vehicle Utilization number of days in a given period. Transaction Days (In Thousands) 35,804 40,884 35,998 Average Vehicles ("Fl
Slide 15: Adjusted DOE Per Day
ADJUSTED DOE PER DAY Adjusted Direct Operating Expense per Transaction Day (“adjusted DOE per day”) Adjusted DOE per Day is calculated as Direct Operating Expenses - as reported, exclusive of the impacts of foreign currency exchange rates and adjustments for certain other miscellaneous or non-recurr
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