Auto Rental News
MenuMENU
SearchSEARCH

Hertz Reports Net Loss of $223M

For the first quarter 2017, Hertz Global Holdings Inc. reported declines in revenue and earnings. Hertz’s total revenues were $1.9 billion, a 3% decline year-over-year, while adjusted earnings were negative $110 million — compared to positive $27 million in Q1 2016.

by Staff
May 8, 2017
Hertz Reports Net Loss of $223M

Photo courtesy of The Hertz Corp.

2 min to read


Photo courtesy of The Hertz Corp.

For the first quarter 2017, Hertz Global Holdings Inc. has reported its total revenues as $1.9 billion, a 3% decline versus first quarter 2016.

Adjusted earnings for Q1 were negative $110 million compared to positive $27 million in the same period last year, according to Hertz.

Ad Loading...

For the third quarter, Hertz reported a net loss (from continued operations) of $223 million, including $30 million of impairment charges. This is compared with a net loss of $52 million during the same period last year. Before income taxes, Hertz’s net loss was $294 million versus $76 million in Q1 2016.

For the U.S., Hertz’s total RAC revenues were $1.4 billion in Q1, a decrease of 4% from last year. Transaction days decreased by 1% year-over-year, primarily driven by one less rental day since 2016 had Leap Day. According to Hertz, pricing dropped 3% in Q1 impacted by an unfavorable customer mix, which the company is looking at in its long-term improvement plan. Adjusted earnings for Q1 were negative $104 million, a $130 million decline from last year.

“As previously outlined, we are executing on a turnaround plan that puts our customers at the center of everything we do,” said Kathryn V. Marinello, president and CEO of Hertz. “Our goal is to strengthen the business to drive predictable, sustainable growth over the long term. While we are mindful of today's headwinds related to used car residual values, our commitment to investing in the business remains steadfast. In particular, we are placing significant emphasis on fleet quality, the customer experience, brand development, and systems transformation. These investments are critical to rebuilding our position as a leader in the global rental car market. While our performance doesn't yet reflect our investments and may continue to be uneven, we are seeing signs of progress.”

In Q1, U.S. RAC net vehicle depreciation per unit per month increased 15% to $348, primarily driven by seasonally weak residual trends. Hertz continued its fleet optimization plan by selling 21% more vehicles year-over-year, according to the company. U.S. vehicle utilization was lower by 3 percentage points in Q1.

Hertz’s total international RAC revenues were $411 million in Q1, a decrease of 5% from Q1 2016. Excluding a $6 million impact of foreign currency exchange rates, revenues dropped 4% due to a 4% decrease in total revenue per transaction day (RPD), according to Hertz.

More Rental Operations

thumbnail what does it take to succeed in b2b rentals
Rental Operations•by Chris Brown•October 12, 2026

What Does It Take to Succeed in B2B Rentals?

The fundamentals may be familiar to daily car rental operators, but project-based truck rentals put different demands on the fleet and the business.

Read More →
Photo of Ana Laborde and world map
Rental Operations•by Chris Brown•October 12, 2026

NPR Builds on International Partnerships to Grow Rental Bookings

With Ana Laborde supporting broker development, NPR Auto Group is tailoring distribution strategies, rate packages, and partnerships to grow international reservations across its three brands.

Read More →
Rental car agent shows woman her choice of rental car
Rental Operations•by Chris Brown•October 7, 2026

Advantage, Sixt Place Among Top Five in Annual Satisfaction Study

While Enterprise and National retain the top spots in JD Power’s 2026 rankings, the latest customer satisfaction results suggest renters can find competitive service beyond the biggest car rental names.

Read More →
Ad Loading...
an exotic car wrapped in an insurance policy
Rental Operations•October 1, 2026

The $100,000 Insurance Trap in Exotic Car Rentals

Exotic rental agencies often rely on customers’ personal auto policies to protect six-figure vehicles. But policy language can dramatically change the coverage for vehicles over $100,000 MSRP.

Read More →
globe of world and drivers license from UK
Rental Operations•September 28, 2026

The Booking Is Confirmed, But Is Your Customer Ready to Drive?

For international renters, a confirmed reservation doesn’t always mean they’re eligible to drive. Earlier checks can help operators catch documentation and payment issues before the customer reaches the counter.

Read More →
Scenes from Car Rental Shows past
Rental Operations•by Staff•September 23, 2026

ICRS 2027 Opens Call for Papers

The International Car Rental Show seeks session proposals on the business, operational, and technology issues facing car rental operators. Submissions are due Jan. 15.

Read More →
Ad Loading...
hand holding phone and Turo logo
Rental Operations•by Staff•September 21, 2026

Turo to Launch Vehicle Delivery Service

Turo Delivered will let travelers search for vehicles that hosts can deliver directly to hotels, homes, airports, train stations, and other locations.

Read More →
plane, palm trees, car rental sign
Rental Operations•by Chris Brown•September 15, 2026

Palm Beach Airport Code Change Creates Car Rental Distribution Gap

A test of rental searches under the old PBI and new DJT airport codes returned largely different sets of brands and vehicles, highlighting a potential distribution problem for rental operators.

Read More →
Team members of U-Save's new franchise
Rental Operations•by Staff•September 15, 2026

U-Save Continues Dominican Republic Expansion with Launch in Punta Cana

The new franchise location builds on U-Save’s existing Santo Domingo operation and will begin taking reservations for October 2026.

Read More →
Ad Loading...
A traveler searches for rental cars with an AI bot
Rental Operations•September 14, 2026

When AI Books the Rental Car, Who Controls the Sale?

As AI moves from comparing rental rates to completing transactions, operators need to understand how travelers find, interpret, rank, and ultimately see their offers. (Part 2 of 2.)

Read More →
Ad Loading...