Hertz Global Holdings (HTZZ) Q2 Revenues Rise 62%

Hertz Global Holdings (OTC: HTZZ) reported Q2 EPS of ($1.05), which includes $633 million of reorganization expenses. Revenue for the quarter rose 62% to $1.9 billion, versus $543 million reported last year. Adjusted Corporate EBITDA was $639 million resulting in a 34% margin.

"Hertz delivered an outstanding second quarter as travel continued to rebound," said Paul Stone, Hertz Global's President and Chief Executive Officer. "With resurgent demand and tight supply across the industry, we remained agile in managing our fleet to meet customers' needs. At the same time, we benefited from the important operational and financial improvements we made through our restructuring process. Our improved financial position and capital structure give us the flexibility and resources to build upon our strengths and capitalize on accelerating momentum in the quarters ahead."

"We are optimistic about a sustained recovery and travel rebound. We are carefully managing our fleet accordingly to deliver superior customer experience while optimizing profitability," Mr. Stone continued.

Hertz Global emerged from its Chapter 11 process on June 30, 2021 as a well-capitalized company with the flexibility and resources to pursue exciting new growth opportunities. The Company anticipates a re-IPO, which includes hosting an investor roadshow and relisting on a major exchange by year-end 2021.

For earnings history and earnings-related data on Hertz Global Holdings (HTZZ) click here.

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