Welcome to our dedicated page for Hertz Global Hld news (Ticker: HTZ), a resource for investors and traders seeking the latest updates and insights on Hertz Global Hld stock.
Hertz Global Holdings, Inc. reports news on its vehicle rental and mobility operations, including the Hertz, Dollar, Thrifty and Firefly rental brands, Hertz Car Sales, and Hertz 24/7 car sharing in Europe. Company updates commonly cover rental demand, fleet rotation, revenue per unit, revenue per day, depreciation trends, used-vehicle sales channels and customer-service initiatives across its Americas and international rental operations.
Hertz news also includes partnerships and platform expansion in mobility services. Recent themes include digital retail for near-new vehicles, premium fleet additions, rideshare and fleet-management partnerships, and Oro Mobility, an affiliated operating company focused on integrated fleet solutions for driver-led and autonomous mobility models.
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Hertz Global reported strong first-quarter 2023 results, with total revenues reaching $2.0 billion, a 13% increase year-over-year. The company achieved a GAAP net income of $196 million ($0.61 per diluted share) and an adjusted net income of $126 million ($0.39 per adjusted diluted share). Operating cash flow was strong at $562 million, although adjusted free cash outflow was $83 million due to fleet expansion investments. The company's liquidity stood at $2.2 billion, with $728 million in unrestricted cash. Hertz repurchased 5.7 million shares for $100 million during the quarter. Despite positive revenue growth, adjusted EBITDA saw a decline of 61% to $237 million due to increased fleet depreciation and other factors.