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Hertz (HRZ)

Hertz Holdings was incorporated in Delaware in 2015 to serve as the top-level holding company for Rental Car Intermediate Holdings, LLC, which wholly owns Hertz, our primary operating company. Hertz was incorporated in Delaware in 1967 and is a successor to corporations that have been engaged in the vehicle rental and leasing business since 1918.

Company profile

Ticker
HRZ
Exchange
Website
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Hertz Global Holdings, Inc. • Rental Car Intermediate Holdings, LLC • U.S. and Countries Outside Europe • Thrifty Insurance Agency, Inc. • DNRS II LLC • DNRS LLC • Dollar Thrifty Automotive Group, Inc. • Donlen Fleet Lease Funding LLC • Donlen FSHCO Company • Executive Ventures, Ltd. ...

Calendar

28 Jul 22
12 Aug 22
31 Dec 22
Quarter (USD) Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.44B 2.44B 2.44B 2.44B 2.44B 2.44B
Cash burn (monthly) (no burn) (no burn) (no burn) 118.58M (no burn) (no burn)
Cash used (since last report) n/a n/a n/a 1.95B n/a n/a
Cash remaining n/a n/a n/a 494.66M n/a n/a
Runway (months of cash) n/a n/a n/a 4.2 n/a n/a

Beta Read what these cash burn values mean

Financial report summary

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Competition
Id SystemsAvis BudgetHyreCar
Management Discussion
  • ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Hertz Global Holdings, Inc. (together with its consolidated subsidiaries and variable interest entities, "Hertz Global") is a holding company and its principal, wholly-owned subsidiary is The Hertz Corporation (together with its consolidated subsidiaries and variable interest entities, "Hertz"). Hertz Global consolidates Hertz for financial statement purposes, and Hertz comprises approximately the entire balance of Hertz Global’s assets, liabilities and operating cash flows. In addition, Hertz’s operating revenues and operating expenses comprise nearly 100% of Hertz Global’s revenues and operating expenses. As such, Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") that follows herein is for Hertz and also applies to Hertz Global in all material respects, unless otherwise noted. Differences between the operations and results of Hertz and Hertz Global are separately disclosed and explained. We sometimes use the words “we,” “our,” “us,” and the “Company” in this MD&A for disclosures that relate to all of Hertz and Hertz Global.
  • This MD&A should be read in conjunction with the MD&A presented in our 2021 Form 10-K together with the sections entitled “Cautionary Note Regarding Forward-Looking Statements,” Part II, Item 1A, "Risk Factors,” and our unaudited condensed consolidated financial statements and accompanying notes included in Part I, Item 1 of this Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022 (this "Quarterly Report"), which include additional information about our accounting policies, practices and the transactions underlying our financial results. The preparation of our unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts in our unaudited condensed consolidated financial statements and the accompanying notes including revenue earning vehicle depreciation and various claims and contingencies related to lawsuits, taxes and other matters arising during the normal course of business. We apply our best judgment, our knowledge of existing facts and circumstances and our knowledge of actions that we may undertake in the future in determining the estimates that will affect our unaudited condensed consolidated financial statements. We evaluate our estimates on an ongoing basis using our historical experience, as well as other factors we believe to be appropriate under the circumstances, such as current economic conditions, and adjust or revise our estimates as circumstances change. As future events and their effects cannot be determined with precision, actual results may differ from these estimates.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: ACE, age, agreeable, CCLD, character, David, discontinued, fiscal, Galainena, MMJ, President, ratably, recommendation, refresh, Secretary, target, tenor, Vice
Removed: adjustment, Agency, amendment, answer, critical, dispute, DTG, Edition, file, local, modernize, modified, notice, Pacific, phase, proceed, reclassified, separate, Smartz, statutory, summoned, System, TRAC, Transporting, valid, validity, York