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Hertz Global Holdings (HTZ) Q1 FY2022 earnings: revenue $1.8 billion, up 40.4% on the year

Hertz Global Holdings, Inc. (HTZ) reported revenue of $1.8 billion for Q1 FY2022, the quarter ended 31 March 2022, up 40.4% on the same quarter a year earlier as this quarter's filing gives it. Net income was $426 million, up 124.2% on the year as this quarter's filing gives it, and diluted earnings per share $0.82. The figures are the company's own, from the 10-Q it filed with the SEC on 27 April 2022.

Revenue$1.8 billionup 40.4% on the year
Net income$426 millionup 124.2% on the year
Diluted EPS$0.82
QuarterQ1 FY2022ended 31 March 2022

The quarter, against the one before and a year earlier

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Revenue1,8101,948n/an/a
Selling, general and administrative235188n/an/a
Operating income556n/an/an/a
Operating margin30.7%n/an/a
Pre-tax income556-138n/an/a
Income tax130125n/an/a
Effective tax rate23.4%n/an/a
Net income426-261n/an/a
Net margin23.5%-13.4%n/a
Diluted EPS$0.82-$1.56n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Operating cash flow621598n/an/a
Capital expenditure30.030.0n/an/a
Free cash flow591568n/an/a
Free cash flow margin32.7%29.2%n/a
Cash from investing-1,541-1,104n/an/a
Cash from financing392-297n/an/a
Depreciation and amortisation33.0n/an/an/a
Share-based compensation28.08.0n/an/a
Buybacks766654n/an/a
Diluted shares, weighted461m315mn/an/a
Shares outstanding at period end415m450mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Shareholders' equity2,7022,977n/an/a
Non-controlling interestn/a0.0n/an/a
Redeemable equityn/a0.0n/an/a
Debt12,08210,907n/an/a
Other liabilities6,1575,899n/an/a
Total liabilities and equity20,94119,783n/an/a
Fixed assets611608n/an/a
Goodwill1,0441,045n/an/a
Intangible assets2,9032,912n/an/a
Cash and equivalents1,5212,258n/an/a
Other assets14,86212,960n/an/a
Total assets20,94119,783n/an/a

Questions

What was Hertz Global Holdings' revenue in Q1 FY2022?

Hertz Global Holdings (HTZ) reported revenue of $1.8 billion for Q1 FY2022, the quarter ended 31 March 2022, up 40.4% on the same quarter a year earlier as the company restated it.

How much did Hertz Global Holdings earn in Q1 FY2022?

Net income for Q1 FY2022 was $426 million, up 124.2% on the year, and diluted earnings per share $0.82.

When did Hertz Global Holdings report Q1 FY2022 results?

Hertz Global Holdings filed its 10-Q for the quarter ended 31 March 2022 with the SEC on 27 April 2022.

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 * †Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,2261,9481,8102,3442,4962,0352,0472,4372,7032,1842,0802,3532,5762,0401,8132,1852,4782,0282,0042,396
SG&A177188235257246221221285209247162243189225219246241251236258
Operating income768n/a5561,11964712762.0158559-493-581-473-1,620-563-525-316234-223-30471.0
Operating margin35%n/a31%48%26%6%3%6%21%-23%-28%-20%-63%-28%-29%-14%9%-11%-15%3%
Pre-tax income768-1385561,119647127n/an/an/an/a-581-473-1,620-563-525-316234-223-30471.0
Tax rate21%n/a23%16%11%9%n/an/an/an/an/an/an/an/an/an/a21%n/an/a10%
Net income605-261426940577116196139629-348-186-865-1,332-479-443-294184-194-33364.0
Net margin27%-13%24%40%23%6%10%6%23%-16%-9%-37%-52%-23%-24%-13%7%-10%-17%3%
Diluted EPS$1.13-$1.56$0.82$1.13$1.33-$0.01$0.61$0.44$0.92-$1.14-$0.61-$2.82-$4.34-$1.56-$1.44-$0.95$0.42n/a-$1.06$0.05
Operating cash flow74359862170893227756249785156437054689441425134683519320.0381
Capital expenditure24.030.030.029.045.046.045.078.028.037.033.026.022.024.071884626.0n/a1,098971
Free cash flow719568591679887231517419823527337520872390-467-500809n/a-1,078-590
Buybacks0.065476688150530911810450.043.00.00.00.00.0n/an/an/an/an/an/a
Dividends paid0.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Shares outstanding472m450m415m368m341m323m318m312m309m305m306m306m307m307m308m310m311m312m315m356m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2022, filed 27 April 2022: the filing.