Auto Rental News
MenuMENU
SearchSEARCH

Hertz Posts $474M Net Loss for 2016

For full-year 2016, Hertz Global Holdings Inc. has reported total revenue of $8.8 billion, a decrease of 2% from $9 billion for 2015. In 2016, Hertz’s net loss was $474 million compared to $115 million in 2015.

by Staff
February 28, 2017
Hertz Posts $474M Net Loss for 2016

Photo courtesy of The Hertz Corp.

2 min to read


Photo courtesy of The Hertz Corp.

Hertz Global Holdings Inc. has released its 2016 fourth quarter and full-year operating results.

For full-year 2016, total revenue was $8.8 billion, a decrease of 2% from $9 billion for 2015, according to Hertz. Adjusted net income was $41 million compared with an adjusted net income of $205 million for the same period last year. Adjusted earnings for 2016 were $553 million versus $858 million for 2015.

Ad Loading...

For the full-year, Hertz reported net loss from continuing operations of $474 million, including full-year impairment charges of $285 million. In 2015, Hertz’s net loss from continuing operations was $115 million, according to the company.

In the fourth quarter, total revenues were $2 billion, a 1% decline compared to fourth quarter 2015, according to Hertz. Loss from continuing operations for Q4 was $466 million, including $309 million of impairment charges — compared to $52 million net loss in fourth quarter 2015. Adjusted earnings for Q4 were $12 million compared to $94 million in Q4 2015 — a decline of 87%.

Total U.S. RAC revenues were $1.4 billion in Q4, flat versus the same period last year, according to Hertz. Transaction days increased 1% while pricing decreased by 1% year-over-year. U.S. RAC vehicle carrying costs rose 23% or $85 million in the fourth quarter. This year-over-year increase was driven by a decline in residual values for current and future vehicle sales, the company reported.

"The company's 2016 performance resulted from issues around fleet and service, which we are addressing," said Kathryn V. Marinello, Hertz’s president and CEO. "In the U.S., we are upgrading the quality and mix of the fleet and rolling out our more flexible Hertz Ultimate Choice offering, both of which enable customers to get the cars they want, when they want them.

"In terms of service, we have great employees with the right attitude. We are taking action to ensure that they have the tools and training to consistently deliver best-in-class service that shows our customers we care. 2017 investments in fleet, service, marketing, and technology will be the catalyst to ultimately generating steady top-line growth."

More Rental Operations

A tech collage of electronic devices against a computer chip blueprint map.
Rental OperationsMay 1, 2026

Why Car Rental Can No Longer Run On Workarounds

The shift from branch-based software to connected operations is turning rental technology into strategic infrastructure.

Read More →
A tech collage of electronic devices against a computer chip blueprint map.
Rental OperationsMay 1, 2026

Why Car Rental Can No Longer Run On Workarounds

The shift from branch-based software to connected operations is turning rental technology into strategic infrastructure.

Read More →
A black Audi SUV superimposed on a historic scene from downtown Tashkent, Uzbekistan.

Carwiz Sets Up Rental Operations In Central Asia

The global franchise operation reaches a first in its rental fleet portfolio with new service in Uzbekistan.

Read More →
Ad Loading...
A raging brushfire in the countryside.
Rental Operationsby Martin RomjueApril 30, 2026

Where Rental Fleets Must Adjust To Shifting Catastrophe Risks

West Coast disasters pose unique challenges and liabilities for rental fleet operators, who are advised to take steps tailored to their specific situations.

Read More →
ARN Industry Newsmakers thumbnail page with ARN and ICRS logos and shots of Nick DiPrima and Martin Romjue
Rental Operationsby Martin RomjueApril 27, 2026

Using AI To Find Rental Car Damage

Angry car renters are storming social media, the mainstream media, and online ratings platforms to complain about charges they claim are either unfounded or excessive.

Read More →
Photo of CEO Krešimir Dobrilović against a gray modernist crooked-tile mural display.

Carwiz Opens Car Rental Service In Panama

A Carwiz partner in Puerto Rico is taking on the Panama franchise with operations in the nation's largest airport.

Read More →
Ad Loading...
A world map with Flexways logo and new locations headline.

Flexways Opens 10 Locations Among Franchise, Affiliate Rental Networks

The integrated business model combines each operator’s local expertise with international standards to boost sales.

Read More →
Photo of a suitcase, passport, and smartphone.

Traveler Customer Satisfaction Up This Year Data Study Shows

The study looks at customer analytics to size up performance in car rentals, rideshare, airlines, lodging, and OTAs.

Read More →
A rental car between two placards showing a symbolic revenue increase from $300 to $1600.

New Consulting Company Ready To Boost Point-of-Sale Revenue

Revcuity, an outgrowth of Frontline Performance Group, aims to help clients capture more revenue moments with face-to-face customers, including in the car rental space.

Read More →
Ad Loading...
Martin Romjue stands at conference stage podium close to a dangling, glistening chandelier.
Rental Operationsby StaffApril 15, 2026

Meet The (Semi-New) ARN Editor

Martin Romjue has been editing and reporting for ARN since 2023 and fully transitioned to the role of chairman of the International Car Rental Show in 2026.

Read More →
Ad Loading...