Hertz Q1 Tops Forecasts With 11% Revenue Growth and $141 Million EBITDA Gain

Overview

• Hertz reported first-quarter results with revenue up 11% and adjusted corporate EBITDA up $141 million, both above Wall Street estimates.
• The company said it delivered its strongest year-over-year revenue growth in three years and logged steady quarter-to-quarter gains in revenue per unit and per day.
• Leaders cited a two-year shift in fleet strategy—buy right, hold right, sell right—that hit the fleet cost goal last year, known as DPU, or cost per vehicle, and is tracking to the 2026 revenue-per-unit target.
• Elevated recalls and other disruptions removed an average of more than 16,000 cars from service each month, which management said cut EBITDA by over $25 million.
• Hertz outlined 2026 goals that include a 3% to 6% EBITDA margin, tighter first-half fleet growth to support pricing, projected year-end liquidity above $1.5 billion, and a push into mobility software through its new Oro platform.