Hertz Global Holdings reported its best quarterly results in nearly two years for the second quarter of 2025, driven by a significant improvement in profitability. The company achieved a positive Adjusted Corporate EBITDA of $1 million, a substantial turnaround from a $460 million loss in Q2 2024, marking its first positive Adjusted Corporate EBITDA in seven quarters.
Total revenues for the quarter were $2.185 billion, a 7% decrease from $2.353 billion in Q2 2024, but the net loss improved significantly to $294 million from $865 million in the prior-year period. Adjusted diluted earnings per share improved to $(0.34) from $(1.44) in Q2 2024, surpassing analyst estimates.
Depreciation Per Unit (DPU) saw a dramatic improvement, decreasing by 58% to $251 in Q2 2025 from $595 in Q2 2024, demonstrating the effectiveness of the accelerated fleet rotation strategy. Vehicle utilization also increased to 83% from 80% year-over-year. CEO Gil West stated, 'Our transformation is taking hold,' highlighting the positive impact of disciplined fleet management, revenue optimization, and rigorous cost control.
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