Company profile

Ticker
HRZ
Exchange
Website
Employees
Incorporated in
Location
Fiscal year end
SEC CIK

Calendar

11 May 20
7 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 1.92B 2.33B 2.84B 2.51B
Net income -357M -118M 169M 38M
Diluted EPS -2.5 -0.83 1.26 0.4
Net profit margin -18.56% -5.07% 5.96% 1.51%
Net change in cash 152M 400M 50M -139M
Cash on hand 1.02B 865M 465M 415M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 9.78B 9.5B 8.8B 8.8B
Net income -50M -227M 327M -491M
Diluted EPS -0.49 -2.35 3.44 -5.85
Net profit margin -0.51% -2.39% 3.71% -5.58%
Net change in cash -262M 55M 256M 342M
Cash on hand 865M 1.13B 1.07B 816M

Financial data from Hertz earnings reports

Financial report summary

?
Competition
Id SystemsAvis BudgetZipcarHyreCar
Risks
  • RISKS RELATED TO OUR BUSINESS AND INDUSTRY
  • Our vehicle rental business is particularly sensitive to reductions in the levels of business and leisure travel, and reductions in business and leisure travel could materially adversely affect our results of operations, financial condition, liquidity and cash flows.
  • We face intense competition that may lead to downward pricing or an inability to increase prices.
  • Our business is highly seasonal and any occurrence that disrupts rental activity during our peak periods could materially adversely affect our results of operations, financial condition, liquidity and cash flows.
  • If our management is unable to accurately estimate future levels of rental activity and adjust the number, location and mix of vehicles used in our rental operations accordingly, our results of operations, financial condition, liquidity and cash flows could suffer.
  • Increased vehicle cost due to declining values of our non-program vehicles in our operations could materially adversely affect our results of operations, financial condition, liquidity and cash flows.
  • We may fail to respond adequately to changes in technology, customer demands and market competition.
  • If we are unable to purchase adequate supplies of competitively priced vehicles and the cost of the vehicles we purchase increases, our results of operations, financial condition, liquidity and cash flows may be materially adversely affected.
  • The recognition of previously-deferred tax gains on the disposition of revenue earning vehicles may not be fully offset by full expensing of newly-purchased revenue earning vehicles.
  • The failure of a manufacturer of our program vehicles to fulfill its obligations under a repurchase or guaranteed depreciation program could expose us to losses on those program vehicles.
  • Manufacturer safety recalls could create risks to our business.
  • A business continuity plan is necessary for our global business.
  • We rely on third-party distribution channels for a significant amount of our revenues.
  • If our customers develop loyalty to travel intermediaries rather than our brands, our financial results may suffer.
  • Our foreign operations expose us to risks that may materially adversely affect our results of operations, financial condition, liquidity and cash flows.
  • Our global business requires a compliance program to promote organizational adherence to applicable laws and regulations.
  • Our business is heavily reliant upon communications networks and centralized information technology systems and the concentration of our systems creates risks for us.
  • Failure to maintain, upgrade and consolidate our information technology systems could adversely affect us.
  • The misuse or theft of information we possess, including as a result of cyber security breaches, could harm our brand, reputation or competitive position and give rise to material liabilities which may materially adversely affect our results of operations, financial condition, liquidity and cash flows.
  • Cyber security threats in our business environment expose us to risks.
  • We may face particular data protection, data security and privacy risks in connection with the European Union's Global Data Protection Regulation and other privacy regulations.
  • Our leases and vehicle rental concessions expose us to risks.
  • Maintaining favorable brand recognition is essential to our success, and failure to do so could materially adversely affect our results of operations, financial condition, liquidity and cash flows.
  • Maintaining effective employee retention and talent management is critical to our success.
  • We may face issues with our union employees.
  • If there is a determination that any of the Spin-Off or the internal spin-off transactions completed in connection with the Spin-Off (collectively with the Spin-Off, the “Spin-Offs”) is taxable for U.S. federal income tax purposes because the facts, assumptions, representations or undertakings underlying the Internal Revenue Service ("IRS") private letter ruling or tax opinions are incorrect or for any other reason, then Herc Holdings and its stockholders could incur significant U.S. federal income tax liabilities and Hertz Global could incur significant liabilities.
  • Some or all of our deferred tax assets could expire if we experience an “ownership change” as defined in Section 382 of the Code.
  • We face risks related to liabilities and insurance.
  • We could face a significant withdrawal liability if we withdraw from participation in multiemployer pension plans or in the event other employers in such plans become insolvent and certain multiemployer plans in which we participate are reported to have underfunded liabilities, any of which could have a material adverse effect on our results of operations, financial condition, liquidity or cash flows.
  • Environmental laws and regulations and the costs of complying with them, or any liability or obligation imposed under them, could materially adversely affect our results of operations, financial condition, liquidity and cash flows.
  • Changes in the U.S. legal and regulatory environment that affect our operations, including laws and regulations relating to accounting principles, taxes, automobile related liability, insurance rates, insurance products, consumer privacy, data security, employment matters, licensing and franchising, used-car sales (including retail sales), cost and fee recovery and the banking and financing industry could disrupt our business, increase our expenses or otherwise have a material adverse effect on our results of operations, financial condition, liquidity and cash flows.
  • RISKS RELATED TO OUR SUBSTANTIAL INDEBTEDNESS
  • Our substantial level of indebtedness could materially adversely affect our results of operations, financial condition, liquidity, cash flows and ability to compete in our industry.
  • Our reliance on asset-backed and asset-based financing arrangements to purchase vehicles subjects us to a number of risks, many of which are beyond our control.
  • Substantially all of our consolidated assets secure certain of our outstanding indebtedness, which could materially adversely affect our debt and equity holders and our business.
  • Restrictive covenants in certain of the agreements and instruments governing our indebtedness may materially adversely affect our financial flexibility or may have other material adverse effects on our business, results of operations, financial condition, liquidity and cash flows.
  • An increase in interest rates or in our borrowing margin would increase the cost of servicing our debt and could reduce our profitability.
  • The interest rates of certain of our financing instruments are priced using a spread over LIBOR.
  • RISKS RELATING TO HERTZ GLOBAL HOLDINGS, INC. COMMON STOCK
  • Hertz Holdings is a holding company with no operations of its own and depends on its subsidiaries for cash.
  • Hertz Holdings' share price may decline if it issues a large number of new shares or if a holder of a substantial number of shares sells their stock.
Management Discussion
  • U.S. Rental Car
  • Footnotes to the table above are shown in the "Footnotes to the Results of Operations and Selected Operating Data by Segment Tables" section of this MD&A.
  • Total U.S. RAC revenues decreased $138 million in the first quarter of 2020 compared to 2019 due to lower volume, partially offset by higher pricing. The 11% decrease in Transaction Days was primarily driven by the impact from COVID-19 with declines in leisure and most business categories, excluding delivery services where volume and pricing increased year over year. Volume decreased in both our airport and off airport business by 13% and 8%, respectively. Off airport revenues comprised 35% of total revenues for the segment in the first quarter of 2020 as compared to 33% in the first quarter of 2019.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: abate, ABS, accelerate, accelerated, aggressive, aggressively, Aid, air, AMT, announced, argument, arisen, assertion, assumption, attempting, automotive, Background, began, carryback, certainty, challenging, Concurrently, confluence, consumer, critical, cure, default, deliver, deterioration, discontinued, discretionary, doubt, downgraded, downturn, dramatically, DTG, duration, economy, enacted, ensure, event, exacerbated, experienced, experiencing, face, forbear, forbearance, forward, fulfill, furlough, furloughed, globe, goal, grace, halt, Health, hedging, hierarchy, high, iii, immaterial, imposed, inability, indefinite, instituted, Italy, iv, Kingdom, labor, lead, leading, listed, long, magnitude, mandated, missed, morale, multiemployer, multiple, national, negotiate, negotiated, negotiating, NOL, notwithstanding, occurrence, Oral, original, originally, outbreak, overflow, pace, pandemic, participation, passed, past, payroll, peril, permanent, prepaid, preserve, privacy, private, profile, quickly, rapidly, reach, recover, recoverability, reduction, reform, reinvestment, requested, resale, Restated, return, returned, safe, scheduled, scope, sensitive, sharp, slowdown, small, society, sooner, Spain, spend, spending, stimulate, store, strong, strongest, subrogation, successfully, suddenly, suffer, test, tested, tradename, unable, uncertain, unclear, undiscounted, unemployment, Union, unprecedented, unrealized, unrestricted, valuation, VFN, viral, waive, wholesale, withdrawal, world
Removed: accounted, add, age, applying, area, assessment, auction, automobile, backed, bankruptcy, beneficial, Board, building, Canadian, channel, charged, clarify, classification, classified, collateralized, commencement, commitment, composition, conformance, consideration, consolidating, credited, criteria, cumulative, dealer, deem, depreciated, determinant, diagnostic, disclose, earned, elimination, embedded, enrolled, escalation, exercised, expanded, expired, explicit, flat, flexibility, furnish, Gold, grant, greater, hindsight, implicit, improvement, incentive, indenture, independent, inflation, intent, jurisdiction, leadership, lessee, location, Lyft, met, opportunity, optimize, package, Partnership, passenger, pattern, percentage, periodically, pertaining, physical, postretirement, practical, prudently, quality, range, recognize, rely, remote, remove, repair, replaced, revert, review, revised, ROU, shorter, signifying, sophisticated, space, sponsor, subordination, TCL, terminate, title, Topic, TRAC, traffic, train, utilizing, warranty, whichever