Hertz Reports Structural Revenue Gains and Improved Profitability in 2025 — Hertz Global Holdings, Inc.

Event summary

Hertz reported $8.5 billion in full-year 2025 revenue, reflecting sequential improvement in pricing and the strongest year-over-year performance since Q1 2024.
Net loss totaled $747 million for the full year, with a significant year-over-year improvement in diluted EPS to $(2.43).
Adjusted Corporate EBITDA improved by more than $1 billion year over year, driven by revenue optimization and cost controls.
Utilization averaged 81% for the full year, up 200 basis points from 2024, while depreciation per unit per month decreased by 44%.
Customer experience improved with a nearly 50% increase in Net Promoter Score.

The big picture

Hertz's transformation efforts are yielding structural improvements, with significant gains in revenue, profitability, and customer experience. The company's focus on fleet rotation, disciplined cost management, and strategic initiatives across its platform of rental car, service, fleet, and mobility businesses positions it to capitalize on broader industry trends in mobility solutions and off-airport services.

What we're watching

Revenue Growth Sustainability: Whether Hertz can maintain mid-single digit revenue growth in Q1 2026 amid a positive industry pricing environment.
Cost Management: The pace at which Hertz can continue to drive down depreciation per unit and direct operating expenses while improving utilization.
Customer Experience: How the nearly 50% improvement in Net Promoter Score will translate into long-term customer loyalty and market share gains.