Hertz reports strong Q3 2026 results

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On November 5, 2026, Hert z Global Holdings, Inc. issued a press release announcing its financial results for the quarter ended September 30, 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.¹

The information in this Item 2.02, including the exhibit attached hereto, is being furnished and shall not be deemed to be filed for the purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless such subsequent filing specifically references this Current Report on Form 8-K.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibit

Description

99.1

Press Release, dated November 5, 2026, of Hertz Global Holdings, Inc.

104.1 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HERTZ GLOBAL HOLDINGS, INC.

THE HERTZ CORPORATION

(each, a Registrant)

By: /s/ SCOTT M. HARALSON

Name: Scott M. Haralson

Title: Executive Vice President and Chief Financial Officer

Date: November 5, 2026

HERTZ ANNOUNCES Q3 2026 RESULTS, STRONGEST QUARTERLY REVENUE AND EBITDA PERFORMANCE IN THREE YEARS

------------------------------------------------------------------------------------------------------------------

"We delivered our strongest quarterly revenue and Adjusted Corporate EBITDA performance in three years, driven by continued revenue growth and margin expansion on flat capacity," said Gil West, Chief Executive Officer of Hertz. "The underlying progress in our core U.S. rental business is meaningful, and we see significant opportunity ahead as we continue to improve execution, expand our franchise model and build new sources of earnings and value across the Hertz platform."

ESTERO, Fla, November 5, 2026 – Hertz Global Holdings, Inc. (NASDAQ: HTZ) ("Hertz," "Hertz Global," or the "Company") today reported results for its third quarter 2026.

Q3 2026 HIGHLIGHTS

• Revenue totaled $2.6 billion in the third quarter, up approximately 6% year over year² and the Company's best quarterly revenue performance in three years.

• Year-over-year Revenue per Unit (RPU) and Revenue per Day (RPD), each increased approximately 5%, marking the third consecutive quarter of sequential improvement. Strong pricing in the Company's U.S. core business, where RPD increased approximately 8%, was achieved despite lower TSA volumes. U.S. strength was partially offset by softness in International.

• GAAP net income for the quarter totaled $116 million, down from $184 million the year before⁵, and Diluted GAAP EPS was $0.20. Adjusted net income was $67 million and Adjusted Diluted EPS was $0.14.

• Adjusted Corporate EBITDA was $233 million, representing a 15% year-over-year improvement³ and the Company's best quarter of Adjusted Corporate EBITDA in three years.

• Net Depreciation per Unit per Month (Net DPU) was $285 in the third quarter, consistent with the Company's expectations.⁸ At an average age of nine months, Hertz's U.S. core fleet is the youngest it has been in 12 years.⁷

• Direct Operating Expense (DOE) per Day increased 6% year over year and Adjusted DOE per Day increased approximately 5% year over year, including approximately 240 basis points of revenue-related expenses associated with higher RPD. The remaining increase primarily reflected higher collision and maintenance expense.

• The spread between RPD and Adjusted DOE per Day improved by approximately 5% on a year-over-year basis⁹, representing the fourth consecutive quarter of year-over-year spread improvement.

• Hertz ended the third quarter with approximately $946 million of liquidity.⁶

• Hertz recently announced that Oro Mobility (Oro) secured an $80 million strategic equity investment from a consortium of investors, giving Oro the dedicated capital, talent, flexibility and strategic focus to scale as a standalone growth platform across the evolving mobility ecosystem. Oro drivers have completed more than ten million miles to date and its first AV partnership is now underway in the San Francisco Bay Area.

Q3 SUMMARY

Hertz's third quarter results reflected continued progress in its transformation, led by strong commercial performance and disciplined fleet management.^{4 4}The Company delivered $2.6 billion in revenue, $67 million in adjusted net income, and $233 million in Adjusted Corporate EBITDA.^{4 4}The revenue and Adjusted Corporate EBITDA results were the Company's strongest quarterly results in three years.⁴

Commercial momentum remained strong in the quarter, with RPU increasing approximately 5% to $1,639 and RPD increasing approximately 5% year over year. This marked the third consecutive quarter of sequential improvement in both metrics despite a softer revenue environment in our International segment. The Company continues to execute its commercial playbook, with stronger demand generation, more sophisticated pricing and disciplined fleet management at the local level driving performance. These efforts drove an approximately 8% year over year RPD increase in the U.S. core business.

Adjusted DOE per Day increased approximately 5% year over year. Approximately 240 basis points of that increase was due to with revenue related expenses associated with higher RPD. Beyond those revenue driven costs, DOE was 1 pressured by elevated collision and maintenance costs, and broader inflationary pressures. The Company is taking actions to reduce repair costs, improve labor productivity and vehicle utilization, as well as strengthen damage recovery and collections.

The spread between RPD and Adjusted DOE per Day improved by $1.36 globally, or approximately 5%, year over year, with improvement of more than $2.50 in the U.S. Hertz is increasingly focused on this spread as an important indicator of its ability to convert stronger revenue performance into improved operating economics.

Fleet economics remained stable, with Net DPU of $285 per month, consistent with the Company's expectations. Today, Hertz operates one of its youngest U.S. core fleets in a dozen years and remains disciplined on model-year 2027 purchases to support current DPU levels while enhancing customer choice.

The Company ended the quarter with approximately $946 million of liquidity, including cash and cash equivalents and available capacity under its revolving credit facility.

PLATFORM FOR GROWTH

Hertz's transforma