US EditionHERTZ REPORTS SIGNIFICANT PROGRESS TOWARDS KEY MILESTONES FOR FIRST QUARTER 2025
- Hertz reported significant progress in the first quarter of 2025, highlighting fleet rotation and financial improvements under CEO Gil West's leadership.
- The company initiated a strategic transformation a year ago due to an aging fleet, tariff changes, and economic uncertainty, leading to its Back-to-Basics Roadmap.
- Hertz refreshed its fleet so that over 70% of vehicles are a year old or less, leading to a 45% reduction in vehicle depreciation compared to the previous year.
- The firm achieved a $92 million improvement in direct operating expenses, maintained $1.2 billion in liquidity, extended $1.7 billion of credit maturities, and reported first-quarter revenues of $1.813 billion.
- Hertz anticipates reaching positive adjusted EBITDA by Q3 2025, driven by strategic initiatives that improve vehicle mix, enhance income streams, and streamline expenses to support lasting value creation.
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HERTZ REPORTS SIGNIFICANT PROGRESS TOWARDS KEY MILESTONES FOR FIRST QUARTER 2025
"Our 'Back-to-Basics Roadmap' is working," said Gil West, Chief Executive Officer of Hertz. "Disciplined fleet management, revenue optimization, and rigorous cost control are driving meaningful results. In a dynamic environment shaped by tariffs and economic uncertainty, capitalizing on our fleet…
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