Auto Rental News
MenuMENU
SearchSEARCH

Hertz Revenue Declines 2%

In the second quarter 2016, Hertz Global Holdings Inc. has reported its total revenues as $2.3 billion, a 2% decline versus the second quarter of 2015. Hertz had a net loss of $28 million compared to $13 million during the same time last year.

by Staff
August 8, 2016
Hertz Revenue Declines 2%

Photo courtesy of The Hertz Corp.

2 min to read


Photo courtesy of The Hertz Corp.

For the second quarter 2016, Hertz Global Holdings Inc. has reported its total revenues as $2.3 billion, a 2% decline versus the second quarter of 2015, according to Hertz. Adjusted earnings for Q2 were $184 million versus $246 million in the same period last year, a decline of $62 million.

Hertz has reported a net loss of $28 million compared to a net loss of $13 million in the second quarter of 2015. On an adjusted basis for Q2, Hertz reported a net income of $35 million compared to a net income of $74 million in Q2 2015.

Ad Loading...

For the U.S., Hertz’s total RAC revenues were $1.6 billion in Q2, a decrease of 2% compared to last year. According to Hertz, transaction days increased by 6% while pricing (total revenue per transaction day) decreased by 8%. Adjusted earnings for Q2 were $168 million, a $56 million decline from last year.

"In the U.S., pricing improved significantly throughout the quarter, and we see positive pricing momentum continuing into the third quarter," said John Tague, CEO and president of Hertz Global Holdings.

Unit revenues for U.S. RAC — as defined by revenue per available car day (RACD) — improved by 10 basis points year-over-year, according to Hertz. This was driven primarily by the 700 basis point improvement in vehicle utilization from Q2 2015.

In Q2, Hertz’s total international RAC revenues were $540 million, a decrease of 3% from second quarter 2015, according to the company. Excluding a $6 million unfavorable foreign currency impact, revenues decreased 2% — driven by a 2% drop in total revenue per day on a constant currency basis.

Worldwide customer satisfaction, as measured by Net Promoter Score, improved for the Hertz, Dollar, and Thrifty brands by more than four points for the second quarter.

Ad Loading...

In the second quarter, Hertz achieved cost savings of approximately $100 million and is on pace to hit its previously announced target of $350 million of full-year 2016 cost savings, according to the company.

Other business highlights from Q2 include investing in Luxe, an app-based valet parking company, launching one-year vehicle rental supply agreements with Uber and Lyft, and transitioning its U.S. Firefly operations to its Thrifty brand.

"Significant work was accomplished this quarter as part of our three-to-five year margin improvement plan," said Tague. "While still in the first year of the plan, we completed a number of strategic actions, improved our balance sheet, and made progress on technology development, all while reducing our cost base and achieving substantial improvements in customer satisfaction. These accomplishments are the result of the dedication and commitment of our employees all across our operation.”

More Rental Operations

A counter agent chats with a customer over a rental counter
Rental OperationsJuly 21, 2026

The Desk Upsell Is Costing Operators More Than it Earns

Counter upsells generate revenue, but they can also slow transactions, erode trust, and cost repeat business. Fully inclusive pricing may offer operators a better path to long-term value.

Read More →
U-Save Mauritius team

U-Save Expands Indian Ocean Presence with New Master Franchise for Mauritius

The franchise has been acquired by Mauritian travel entrepreneur Umarfarooq Omarjee, an established figure in the island's tourism and mobility sector.

Read More →
Back view of a remote driver in front of a screen delivering a car to a location.

Global Carsharing Fleet Projected to Reach 768,000 Vehicles By 2030

A new Berg Insight forecast outlines several business models driving the projected growth in public carsharing worldwide through 2029.

Read More →
Ad Loading...
green and blue bar graphs compare fleet sales June 2025 versus June 2026
Fleet Acquisitionby Martin RomjueJuly 8, 2026

Rental Car Fleet Sales Show Mid-Year Strength

June gains ensured rental fleets closed out the first half of 2026 in positive territory.

Read More →
Close up of a row of white CUVs in the Surprice Mobility fleet at the Milan airport.

Surprice Mobility Opens Corporate Rental Station at Milan Malpensa Airport

The Milan opening is part of Surprice Mobility's broader strategy to expand its corporate operations while increasing the use of technology across its network.

Read More →
Julian Gritsch with an MBA class in a classroom.

Brazilian Executive MBA Targets Growing Domestic Rental Car Industry

Rental car companies face a unique combination of challenges that are rarely addressed in traditional programs.

Read More →
Ad Loading...
Green Motion team with banner bearing Japanese flag.

Green Motion Expands Into Japan With Master Franchise Agreement

Japan's tourism industry, business travel market, and demand for vehicle rental services are reasons the country represents an important market for the company.

Read More →
ACRA Chairman Sharky Laguana on stage at the ICRS event in Grapevine, Texas.
Legal & Legislativeby Martin RomjueJune 24, 2026

ACRA Carrying Fuller Industry Load As AI and EVs Lurk In Future

The leading car rental professional business group details an active legislative, regulatory, and macro-trends agenda affecting car rental operators.

Read More →
Light blue horizontal bar graphs on a chart showing World Cup-related rental car booking trends.
Rental OperationsJune 23, 2026

World Cup Travel Data Shows Longer Car Rentals and More One-Ways

A recent analysis of FIFA bookings found varied demand patterns that influenced rental car pricing.

Read More →
Ad Loading...
Side view of ICRS speaker Sanchit Garg at podium in front of a floor lit red curtain
Rental Operationsby Martin RomjueJune 22, 2026

A Leveling Force: AI Morphs Into A Rental Car Profit-Seeker

Revenue managers can’t match the emerging AI tools gobbling lots of data that could counter the competitive race to the rate bottom.

Read More →
Ad Loading...