Hertz Global Holdings (HTZ) Q3 FY2026 earnings: revenue $2.6 billion, up 5.6% on the year

Hertz Global Holdings, Inc. (HTZ) reported revenue of $2.6 billion for Q3 FY2026, the quarter ended 30 September 2026, up 5.6% on the same quarter a year earlier. Net income was $116 million, down 37.0% on the year, and diluted earnings per share $0.20. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$2.6 billion

+5.6% on the year · +9.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

3.3%

9.4% a year earlier

Q4 FY2024Q3 FY2026

Net income

$116 million

-37.0% on the year · +81.2% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.20

-52.4% on the year · +300.0% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 new.

Revenue reached best level in three years: Revenue was $2.6 billion, up about 6% year over year. The company described it as its best quarterly revenue performance in three years.
Adjusted Corporate EBITDA rose 15%: Adjusted Corporate EBITDA was $233 million, up 15%, with a margin of 9% against 8%. The company called it its best quarter of that measure in three years.
U.S. pricing up 8% on lower TSA volumes: In the U.S. core business RPD rose about 8% despite lower TSA volumes. The company credited demand generation, more sophisticated pricing and disciplined fleet management at the local level.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	2,617	2,396	2,478	+9.2%	+5.6%
Selling, general and administrative	256	258	241	-0.8%	+6.2%
Operating income	87.0	71.0	234	+22.5%	-62.8%
Operating margin	3.3%	3.0%	9.4%
Pre-tax income	87.0	71.0	234	+22.5%	-62.8%
Income tax	-29.0	7.0	50.0
Effective tax rate	-33.3%	9.9%	21.4%
Net income	116	64.0	184	+81.2%	-37.0%
Net margin	4.4%	2.7%	7.4%
Diluted EPS	$0.20	$0.05	$0.42	+300.0%	-52.4%

$ million except per share.

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.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	599	381	835	+57.2%	-28.3%
Capital expenditure	27.0	971	26.0	-97.2%	+3.8%
Free cash flow	572	-590	809		-29.3%
Free cash flow margin	21.9%	-24.6%	32.6%
Cash from investing	42.0	-971	-158
Cash from financing	-824	679	-256
Depreciation and amortisation	28.0	26.0	29.0	+7.7%	-3.4%
Share-based compensation	18.0	21.0	14.0	-14.3%	+28.6%
Diluted shares, weighted	475m	418m	364m	+13.6%	+30.5%
Shares outstanding at period end	357m	356m	311m	+0.2%	+14.7%

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

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	-489	-628	-317
Redeemable equity	0.0	0.0	0.0
Debt	18,300	19,080	17,408	-4.1%	+5.1%
Other liabilities	4,935	5,420	5,899	-8.9%	-16.3%
Total liabilities and equity	22,746	23,872	22,990	-4.7%	-1.1%
Fixed assets	n/a	n/a	570
Goodwill	1,045	1,045	1,045	0.0%	0.0%
Intangible assets	2,887	2,877	2,855	+0.3%	+1.1%
Cash and equivalents	531	631	1,095	-15.8%	-51.5%
Other assets	18,283	19,319	17,425	-5.4%	+4.9%
Total assets	22,746	23,872	22,990	-4.7%	-1.1%

Questions

What was Hertz Global Holdings' revenue in Q3 FY2026?

Hertz Global Holdings (HTZ) reported revenue of $2.6 billion for Q3 FY2026, the quarter ended 30 September 2026, up 5.6% on the same quarter a year earlier.

How much did Hertz Global Holdings earn in Q3 FY2026?

Net income for Q3 FY2026 was $116 million, down 37.0% on the year, and diluted earnings per share $0.20.

When did Hertz Global Holdings report Q3 FY2026 results?

Hertz Global Holdings filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 * †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,948	1,810	2,344	2,496	2,035	2,047	2,437	2,703	2,184	2,080	2,353	2,576	2,040	1,813	2,185	2,478	2,028	2,004	2,396	2,617
SG&A	188	235	257	246	221	221	285	209	247	162	243	189	225	219	246	241	251	236	258	256
Operating income	n/a	556	1,119	647	127	62.0	158	559	-493	-581	-473	-1,620	-563	-525	-316	234	-223	-304	71.0	87.0
Operating margin	n/a	31%	48%	26%	6%	3%	6%	21%	-23%	-28%	-20%	-63%	-28%	-29%	-14%	9%	-11%	-15%	3%	3%
Pre-tax income	-138	556	1,119	647	127	n/a	n/a	n/a	n/a	-581	-473	-1,620	-563	-525	-316	234	-223	-304	71.0	87.0
Tax rate	n/a	23%	16%	11%	9%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	21%	n/a	n/a	10%	-33%
Net income	-261	426	940	577	116	196	139	629	-348	-186	-865	-1,332	-479	-443	-294	184	-194	-333	64.0	116
Net margin	-13%	24%	40%	23%	6%	10%	6%	23%	-16%	-9%	-37%	-52%	-23%	-24%	-13%	7%	-10%	-17%	3%	4%
Diluted EPS	-$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	$0.42	n/a	-$1.06	$0.05	$0.20
Operating cash flow	598	621	708	932	277	562	497	851	564	370	546	894	414	251	346	835	193	20.0	381	599
Capital expenditure	30.0	30.0	29.0	45.0	46.0	45.0	78.0	28.0	37.0	33.0	26.0	22.0	24.0	718	846	26.0	n/a	1,098	971	27.0
Free cash flow	568	591	679	887	231	517	419	823	527	337	520	872	390	-467	-500	809	n/a	-1,078	-590	572
Buybacks	654	766	881	505	309	118	104	50.0	43.0	0.0	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	450m	415m	368m	341m	323m	318m	312m	309m	305m	306m	306m	307m	307m	308m	310m	311m	312m	315m	356m	357m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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 30 September 2026, filed 5 November 2026: the filing.