Hertz Global Holdings, Inc. (NASDAQ: HTZ) today reported results for its third quarter 2026.
Revenue totaled $2.6 billion in the third quarter, up approximately 6% year over year and the Company's best quarterly revenue performance in three years.
Year-over-year Revenue per Unit (RPU) and Revenue per Day (RPD), each increased approximately 5%, marking the third consecutive quarter of sequential improvement. Strong pricing in the Company's U.S. core business, where RPD increased approximately 8%, was achieved despite lower TSA volumes. U.S. strength was partially offset by softness in International.
GAAP net income for the quarter totaled $116 million, down from $184 million the year before, and Diluted GAAP EPS was $0.20. Adjusted net income was $67 million and Adjusted Diluted EPS was $0.14.
Adjusted Corporate EBITDA was $233 million, representing a 15% year-over-year improvement and the Company's best quarter of Adjusted Corporate EBITDA in three years.
Net Depreciation per Unit per Month (Net DPU) was $285 in the third quarter, consistent with the Company's expectations. At an average age of nine months, Hertz’s U.S. core fleet is the youngest it has been in 12 years.
The spread between RPD and Adjusted DOE per Day improved by approximately 5% on a year-over-year basis, representing the fourth consecutive quarter of year-over-year spread improvement.
Hertz ended the third quarter with approximately $946 million of liquidity.
HTZ shares dropped 15 cents, or 6.7% to $2.1085
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