Related: Hertz Revenue, Earnings Decline
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.

Photo courtesy of The Hertz Corp.

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.
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

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 →
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 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 →
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 →
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 →Stop Losing Money On Rental Tolls
Regardless of your rental fleet size and structure, fleet managers, executives, and owners can gain valuable insights into an often-overlooked area of fleet operations.
Read More →
Rethink The Future To Avert A Race To The Bottom
Rental car operators heard a sobering industry message and a stern challenge at the close of the International Car Rental Show.
Read More →
DriveItAway, Free2move Plan Shared Fleet Program for Independent Rental Fleet Operators
Vehicles would be placed with participating rental operations to support car renter demand and provide additional fleet capacity.
Read More →
Stellantis Recalls 1.3 Million Jeep Vehicles Worldwide Over Fire Risk
Stellantis is recalling more than 1.3 million Jeep Wrangler and Gladiator models worldwide over a fire risk linked to power steering pump wiring.
Read More →
Green Motion And U-Save Open Rental Operations In Guatemala
The brands will open their first rental car outlets in the country at La Aurora International Airport in Guatemala City.
Read More →
