Hertz Reports Strong Q2 2026 Results Amid Fleet Transformation — Hertz Global Holdings, Inc.

Event summary

Hertz reported $2.4 billion in Q2 2026 revenue, up 10% YoY, driven by record Revenue per Day (RPD) excluding pandemic peak.
Adjusted Corporate EBITDA improved by $63 million YoY to $81 million, exceeding revised guidance.
Total Utilization increased by 80 basis points YoY to 79%, with Net Depreciation per Unit per Month at $302.
Oro Mobility, Hertz's operating affiliate, logged over six million miles and is set to begin AV partnership operations in the San Francisco Bay Area later this year.

The big picture

Hertz's Q2 2026 results reflect continued progress in its transformation strategy, with disciplined commercial execution driving strong performance across the business. The company is balancing core rental operations with investments in mobility solutions, particularly through its Oro Mobility affiliate. This dual focus aims to position Hertz as a leader in both traditional car rental and emerging autonomous vehicle markets.

What we're watching

Fleet Modernization: The pace at which Hertz can maintain its youngest fleet in a dozen years and achieve its Net DPU target of at or below $300 for the full year.
Autonomous Vehicle Integration: How the progression of Oro Mobility's AV partnership with Uber will impact Hertz's long-term mobility strategy.
Operational Efficiency: Whether Hertz can sustain its third consecutive quarter of year-over-year spread improvement between RPD and DOE per Day amid higher revenue-related variable costs.