Na Hertz byla podána hromadná žaloba kvůli údajnému podvodu s cennými papíry a dalším nezákonným praktikám. Akcionáři mají čas do 22. září 2026 na podání žádosti o jmenování hlavním žalobcem.
NEW YORK, Aug. 21, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Hertz Global Holdings, Inc. (“Hertz” or the “Company”) (NASDAQ: HTZ). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Hertz and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until September 22, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Hertz securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On June 24, 2026, before the market opened, and just weeks after assuring investors that the Company’s liquidity would be “sufficient to fund our operating activities and obligations for the next twelve months and for the foreseeable future thereafter” and projected year-end liquidity “north of $1.5 billion,” Hertz announced a massive dilutive capital raise. Through its wholly owned indirect subsidiary, Hertz intended to offer $300 million of Exchangeable Senior First-Lien Secured PIK Notes due 2030, together with a concurrent share-lending offering of more than 37 million shares of common stock from which the Company would receive no proceeds, and simultaneously disclosed that “unexpected softness in the used car market” had caused losses on the sale of vehicles in May 2026 and would drive second-quarter Adjusted Corporate EBITDA down to a range of just $50 million to $80 million.
On this news, Hertz’s stock price fell $2.06 per share, or 40.71%, to close at $3.00 per share on June 24, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
Hertz v úterý odpoledne vzrostl o 25 % na 2,64 USD oproti pondělnímu závěru 2,12 USD a navázal na 39% růst za poslední týden po překvapivě silných výsledcích za 2. čtvrtletí. Tržby vzrostly meziročně o 10 % na 2,396 miliardy USD a upravený EPS činil -0,11 USD.
Shares of Hertz Global Holdings (NASDAQ:HTZ) are ripping higher in Tuesday afternoon trading, changing hands around $2.64, a 25% jump from Monday’s close of $2.12. The move extends a violent post-earnings bounce, with the stock now up 39% over the past week.
Earnings Beat Reignites a Battleground Trade The catalyst traces back to Hertz’s August 6 Q2 report, which surprised to the upside on nearly every operating line. Revenue landed at $2.396 billion, up 10% year over year, while adjusted EPS of -$0.11 beat consensus handily. Adjusted Corporate EBITDA came in at $81 million, and revenue per unit hit $1,542, above the company’s North Star target.
CEO Gil West framed the earnings report as validation of the turnaround, saying “This quarter’s results reflect the disciplined execution of our strategy and our consistent commercial strength.” Revenue grew 10% year over year despite operating with a 1% smaller fleet, a genuine pricing-power tell. The 8-K is on file with the SEC.
Lawsuits, Dilution, and Index Removal Keep the Trade Two-Sided The rally is happening in spite of a wall of overhangs. Multiple securities class-action complaints allege Hertz made materially false statements about liquidity and the likelihood of a dilutive capital raise between May 7 and June 23, 2026, with a lead-plaintiff deadline of September 22, 2026. A $300 million secured-notes deal announced June 24 triggered the 40%-plus drawdown that anchors those suits.
Layer on removal from the S&P SmallCap 600, which forced index-fund selling, and analyst fair-value cuts from $3.78 to $2.78. The balance sheet is also stretched, with total debt at $18.7 billion and a stockholders’ deficit of $628 million. Year to date, HTZ is still down 59%.
It’s worth noting that Hertz opened the day flat. Buying pressure built between 9:45 a.m. ET and 10:45 a.m. ET. Most of Hertz’ gains came from that period as the stock has traded mostly sideways since the morning.
Peers Are Not Following the Squeeze The bounce looks idiosyncratic. Avis Budget Group (NASDAQ:CAR | CAR Price Prediction), the closest rental peer, is up 3% today to $142 and essentially flat over the past week. Mobility partner Uber Technologies (NYSE:UBER), which is teaming with Hertz’s Oro Mobility unit on an AV launch in the San Francisco Bay Area later this year, has climbed 9% on the week, while Lyft (NASDAQ:LYFT) is up 5%. HTZ is running its own race.
Retail is fueling the move. Reddit’s r/wallstreetbets sentiment score hit 93 on August 7, with posts titled “Upcoming Hertz 10+ Bagger” and “Full port, life savings in HTZ, I have never felt this alive” drawing hundreds of comments. The warrant lock-up expired August 9, which may be adding to the whipsaw as short positioning gets tested.
Contact [email protected] for any questions or corrections.
Hertz za 2. čtvrtletí vykázal upravenou ztrátu 11 centů na akcii a tržby ve výši 2,40 miliardy USD, které meziročně vzrostly o 9,7 %. Akcie od zveřejnění výsledků přidaly 12,4 %.
Key Takeaways Hertz posted a Q2 adjusted loss of 11 cents per share as revenues rose 9.7% to $2.40 billion. HTZ's revenues per day rose 9% & revenues per unit gained 8% despite operating with a 1% smaller fleet. Hertz expects Q3 adjusted EBITDA of $275M-$325M and positive EPS, with transaction days up about 1%. Hertz Global Holdings, Inc.(HTZ - Free Report) reported better-than-expected second-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.
Quarterly adjusted loss was 11 cents per share, narrower than the Zacks Consensus Estimate of a loss of 23 cents. The result represented a positive surprise of 52.2% and improved from the adjusted loss of 29 cents per share reported in the year-ago quarter.
Revenues of $2.40 billion beat the consensus estimate of $2.28 billion by 4.9% and increased 9.7% year over year. Growth was driven by strong pricing execution, with revenues per day up 9% and revenues per unit rose 8%, while the company operated with a 1% smaller fleet.
The impressive results had a positive impact on the market, as the company’s shares have risen 12.4% since the earnings release on Aug. 6.
Image Source: Zacks Investment Research
Adjusted corporate EBITDA was $81 million, up $63 million from the prior-year quarter. Adjusted corporate EBITDA margin improved to 3.4% from 0.8% a year earlier. The results included an estimated $30 million EBITDA headwind from elevated vehicle recalls.
Direct vehicle and operating expenses increased 4.3% year over year to $1.45 billion. Net depreciation of revenue-earning vehicles and lease charges rose 17.3% to $487 million, while selling, general and administrative expenses increased 4.9% to $258 million. As a percentage of revenues, SG&A improved to 10.8% from 11.3%.
HTZ's Key Balance Sheet and Cash Flow FiguresHTZ exited the second quarter with total cash, cash equivalents and restricted cash and cash equivalents of $1.30 billion compared with $1.17 billion at the end of 2025. The company generated $381 million of net cash from operating activities and $162 million of adjusted free cash flow during the second quarter. Quarter-end liquidity was $984 million.
HTZ's 2026 GuidanceFor the third quarter of 2026, Hertz expects adjusted corporate EBITDA of $275 million to $325 million and positive earnings per share. Transaction days are projected to increase approximately 1% year over year, while net depreciation per unit is expected to range from $285-$295 per month.
For full-year 2026, the company expects adjusted corporate EBITDA of $225 million to $275 million, net depreciation per unit of approximately $300 per month and transaction days growth of approximately 2%. Hertz expects to end 2026 with liquidity between $1.0 billion and $1.4 billion and anticipates positive free cash flow in the second half of the year.
Currently, HTZ has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q2 Performances of Other Transportation CompaniesWestinghouse Air Brake Technologies (WAB - Free Report) , operating as Wabtec Corporation, reported encouraging second-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and increased year over year.
Quarterly adjusted earnings of $2.76 per share beat the Zacks Consensus Estimate of $2.63 by 4.9% and increased 21.6% year over year, owing to higher sales and operating margin expansion.
Revenues climbed 17.5% to $3.18 billion and surpassed the consensus mark of $3.08 billion by 3.2%.
United Airlines Holdings, Inc. (UAL - Free Report) reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%.
Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68 billion consensus mark. A 12.1% increase in total revenues per available seat mile or TRASM, and broad-based gains across premium, loyalty and cargo revenues, supported the top line despite sharply higher fuel costs.
Shares of Hertz Global Holdings Inc. (NASDAQ:HTZ) are trading higher Thursday morning after the car rental giant delivered second-quarter 2026 financial results that topped analyst expectations.
Hertz Global Holdings stock is among today’s top performers. Why is HTZ stock up today? Q2 Financial Performance Exceeds Wall Street EstimatesHertz reported revenue of $2.4 billion, reflecting a 10% year-over-year increase that surpassed Wall Street estimates of $2.28 billion.
The company posted an adjusted loss of 11 cents per share, outperforming the consensus estimate of a 24 cent loss per share and marking a substantial improvement over prior-year results. On a GAAP basis, net income reached $64 million, or 5 cents per diluted share.
The top-line momentum was propelled by strong pricing power, with Revenue per Day climbing 9% year-over-year to achieve Hertz’s highest second-quarter rate on record, excluding extraordinary pandemic conditions in 2022.
Operational Efficiency and Fleet Transformation Drive MomentumHertz delivered top-line expansion despite operating a 1% smaller overall fleet, supported by an 80-basis-point increase in total vehicle utilization to 79%. Adjusted Corporate EBITDA expanded to $81 million, up from $18 million in the second quarter of 2025, topping the upper end of management’s revised guidance.
The company highlighted strategic progress in its fleet transformation, reporting that 94% of its U.S. core fleet now consists of model year 2025 and 2026 vehicles. Hertz closed the quarter with nearly $1 billion in total liquidity, providing financial flexibility to continue funding its core business recovery and long-term mobility initiatives.
HTZ Shares Climb Thursday MorningHTZ Price Action: Hertz Global Holdings shares were up 16.01% at $1.81 during premarket trading on Thursday, according to Benzinga Pro data.
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Na společnost Hertz Global Holdings, Inc. byla podána hromadná žaloba kvůli údajnému podvodu s cennými papíry a dalším nezákonným praktikám. Investoři mají čas do 22. září 2026 požádat o jmenování hlavním žalobcem.
NEW YORK, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Hertz Global Holdings, Inc. (“Hertz” or the “Company”) (NASDAQ: HTZ). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Hertz and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until September 22, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Hertz securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On June 24, 2026, before the market opened, and just weeks after assuring investors that the Company’s liquidity would be “sufficient to fund our operating activities and obligations for the next twelve months and for the foreseeable future thereafter” and projected year-end liquidity “north of $1.5 billion,” Hertz announced a massive dilutive capital raise. Through its wholly owned indirect subsidiary, Hertz intended to offer $300 million of Exchangeable Senior First-Lien Secured PIK Notes due 2030, together with a concurrent share-lending offering of more than 37 million shares of common stock from which the Company would receive no proceeds, and simultaneously disclosed that “unexpected softness in the used car market” had caused losses on the sale of vehicles in May 2026 and would drive second-quarter Adjusted Corporate EBITDA down to a range of just $50 million to $80 million.
On this news, Hertz’s stock price fell $2.06 per share, or 40.71%, to close at $3.00 per share on June 24, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
Hertz po snížení výhledu na upravenou korporátní EBITDA na 50 až 80 milionů USD a obavách z ředění akcií dál prudce oslabuje. HTZ je za měsíc níž o více než 58 % a vytvořila Death Cross.
For many traders, it’s confirmation that a stock’s short-term weakness has evolved into a longer-term downtrend.
A Crash That Changed the StoryHertz’s current technical setup is rooted in a fundamental shock.
On June 24, the stock plunged 41% after the company slashed its second-quarter adjusted corporate EBITDA guidance to between $50 million and $80 million, blaming unexpected weakness in used-car prices. Since Hertz regularly sells vehicles from its rental fleet, falling residual values translated into larger-than-expected losses and raised fresh questions about the company’s earnings power.
The company also unveiled a $400 million financing package that included $300 million in convertible senior notes and a $100 million common stock offering. The deal, coupled with more than 37 million shares made available for hedging activities, fueled fears of shareholder dilution and sent investors rushing for the exits.
The selling hasn’t stopped since. HTZ is now down more than 58% over the past month and recently touched a fresh 52-week low of $2.09.
The Chart Isn’t HelpingIf the fundamentals weren’t enough, the technicals have also turned decisively bearish with the Death Cross formation. The stock is also trading well below major moving averages, underscoring the strength of the recent selloff.
Momentum indicators tell a similar story. The MACD (moving average convergence/divergence) remains in bearish territory, signaling that downside momentum is still intact, even as the pace of selling has eased.
Meanwhile, the Relative Strength Index (RSI) has slipped to around 18, placing HTZ deep in oversold territory. While that could leave room for a short-term bounce, oversold readings alone rarely signal a lasting reversal without an improvement in the underlying fundamentals.
What Investors Should WatchA Death Cross doesn’t guarantee more downside, but it rarely improves sentiment overnight. For Hertz, the chart is simply reinforcing what investors have already been pricing in since the June collapse: concerns over earnings, vehicle values and dilution.
Whether the stock can break that narrative will likely depend less on technical indicators and more on management proving that the worst of the used-car downturn is behind it. Until then, even Ackman’s continued backing may not be enough to shift the market’s mood.
Photo created using artificial intelligence with Midjourney, Dall-E.
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Hertz zvýšil emisi zajištěných seniorních směnek směnitelných za akcie na 350 milionů USD s opcí na dalších 50 milionů USD. Výnosy chce použít na splacení dluhu z revolvingového úvěru a na obecné firemní účely.
ESTERO, Fla.--(BUSINESS WIRE)--Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz” or the “Company”), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation (“Hertz Corp.”), has priced an offering of $350 million aggregate principal amount of 6.75% Exchangeable Senior First-Lien Secured PIK Notes due 2030 (the “Notes”) in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). Hertz Corp. also granted the initial purchasers of the Notes an option to purchase, for settlement within a period of 13 days from, and including, the date the Notes are first issued, up to an additional $50 million aggregate principal amount of Notes. The aggregate principal amount of the offering was increased from the previously announced offering size of $300 million. The offering is expected to close on or about June 29, 2026, subject to customary closing conditions.
Hertz Corp. estimates that the net proceeds from the issuance of the Notes, after deducting the initial purchasers’ discount but before estimated offering expenses payable by Hertz Corp., will be approximately $339.5 million (or approximately $388.0 million if the initial purchasers exercise in full their option to purchase additional Notes). Hertz Corp. intends to use the net proceeds from the issuance of the Notes to repay outstanding borrowings under its revolving credit facility and for general corporate purposes.
The Notes will bear interest from, and including, June 29, 2026, the issue date of the Notes, payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2027. Each payment of interest on the Notes (excluding any additional interest, special interest and default interest) will consist of (i) 3.375% of such interest payment to be paid in cash and (ii) 3.375% of such interest payment to be paid in the form of PIK interest. The Notes will mature on July 1, 2030, unless earlier repurchased, redeemed or exchanged in accordance with their terms prior to maturity.
The Notes will be exchangeable at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The Notes will be exchangeable on the terms set forth in the indenture governing the Notes into cash, shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), or a combination thereof, at Hertz Corp.’s election. The aggregate number of shares of Common Stock that may be issued upon exchange of the Notes may not exceed 19.9% of the number of shares of Common Stock outstanding prior to the offering of the Notes unless and until the shareholders of the Company approve such issuance.
The exchange rate will initially be 279.5248 shares of Common Stock per $1,000 capitalized principal amount of Notes (equivalent to an initial exchange price of approximately $3.58 per share of Common Stock). The initial exchange price of the Notes represents a premium of approximately 32.5% above the public offering price of $2.70 per share of the Borrowed Shares in the concurrent offering of the Borrowed Shares described below. The exchange rate and exchange price will be subject to adjustment upon the occurrence of certain events. If a “make-whole fundamental change” (as defined in the indenture for the Notes) occurs, Hertz Corp. will, in certain circumstances, increase the exchange rate for a specified time for holders who exchange their Notes in connection with that make-whole fundamental change.
Holders of the Notes will have the right to require Hertz Corp. to repurchase all or a portion of their Notes at 100% of their capitalized principal amount of the Notes plus accrued and unpaid cash interest to, but excluding, the date of such repurchase, upon the occurrence of certain corporate events constituting a “fundamental change” as defined in the indenture governing the Notes. Hertz Corp. may not redeem the Notes prior to January 6, 2029. On or after January 6, 2029 and on or prior to the 31st scheduled trading day immediately preceding the maturity date, if the last reported sale price per share of Common Stock has been at least 130% of the exchange price for the Notes for certain specified periods, and certain other conditions are satisfied, Hertz Corp. may redeem all or any portion (subject to certain limitations) of the Notes at a cash redemption price equal to 100% of the capitalized principal amount of the Notes to be redeemed plus accrued and unpaid cash interest to, but excluding, the date of such redemption.
The Notes are expected to be guaranteed by the Company, Rental Car Intermediate Holdings, LLC, Hertz Corp.’s direct parent company, and each of Hertz Corp.’s existing domestic subsidiaries and future restricted subsidiaries that guarantee indebtedness under Hertz Corp.’s first lien credit facilities or certain other indebtedness for borrowed money. The Notes and the related guarantees (other than the guarantee by the Company) are expected to be secured (subject to certain exceptions and permitted liens) on a first-lien basis by the same assets (other than certain excluded property) that secure indebtedness under Hertz Corp.’s first lien credit facilities and existing first lien secured notes, and are therefore expected to be effectively pari passu with indebtedness under Hertz Corp.’s first lien credit facilities and existing first lien secured notes.
The Notes and the related guarantees were offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The Notes, the related guarantees and any shares of Common Stock issuable upon exchange of the Notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and the securities laws of any other jurisdiction.
Concurrently with the offering of the Notes, Hertz also announced today by separate press release the pricing of a separate registered public offering of 37,037,037 shares of Common Stock at a public offering price of $2.70 per share. Such shares (the “Borrowed Shares”) will be loaned by Hertz to a financial institution (the “Share Borrower”), acting as an underwriter in the offering of the Borrowed Shares, pursuant to a share lending agreement. The Share Borrower or its affiliates will receive all of the proceeds of the concurrent offering of Borrowed Shares and neither Hertz nor Hertz Corp. will receive any of the proceeds of that offering, but the Share Borrower will pay Hertz a nominal lending fee for the use of the Borrowed Shares pursuant to the share lending agreement. The Share Borrower will be required to return the Borrowed Shares (or identical shares of Common Stock) to the Company pursuant to the terms of the share lending agreement. Hertz has been informed by the Share Borrower that it or one of its affiliates intends to sell the Borrowed Shares and use the resulting short position to facilitate transactions by which investors in the Notes may hedge their investments through short sales or privately negotiated derivatives transactions. The activity described above could affect the market price of the Common Stock or the Notes otherwise prevailing from time to time.
This press release is not an offer to sell or purchase, or a solicitation of an offer to sell or purchase, the Notes, the related guarantees, the shares of Common Stock issuable upon exchange of the Notes or the Borrowed Shares and does not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.
The concurrent offering of the Borrowed Shares is contingent upon the closing of the offering of the Notes. The offering of the Notes is not contingent upon the closing of the concurrent offering of the Borrowed Shares.
ABOUT HERTZ
Hertz Global Holdings, Inc. is one of the world’s leading car rental and mobility solutions providers. Its subsidiaries, including The Hertz Corporation, and licensees operate the Hertz, Dollar, Thrifty, and Firefly vehicle rental brands, with more than 11,000 rental locations in 160 countries around the globe. The Company also operates the Hertz Car Sales brand, which offers a range of quality, competitively priced used cars for sale online and at locations across the United States, and the Hertz 24/7 car-sharing business in Europe.
This press release contains “forward-looking statements” within the meaning of the federal securities laws. Words such as “expect,” “will” and “intend” and similar expressions identify forward-looking statements, which include but are not limited to statements related to our positioning, strategy, vision, forward looking investments, conditions in the travel industry, our financial and operational condition, our sources of liquidity, the offering of the Notes, the offering of the Borrowed Shares, the anticipated terms of the Notes and Hertz Corp.’s expected use of proceeds from the proposed offering. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including risks and uncertainties related to completion of the offering on the anticipated terms or at all, market conditions (including market interest rates) and the satisfaction of customary closing conditions related to the offering, unanticipated uses of capital and those in our risk factors that we identify in the offering memorandum for the offering and our most recent annual report on Form 10-K for the year ended December 31, 2025, as filed with the U.S. Securities and Exchange Commission on February 26, 2026, and any updates thereto in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and we undertake no obligation to update this information.
Hertz oznámil stanovení ceny nabídky 37 037 037 akcií za 2,70 USD za kus. Výnos z nabídky obdrží J.P. Morgan Securities LLC nebo její přidružené společnosti, nikoli Hertz.
ESTERO, Fla.--(BUSINESS WIRE)--Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz” or the “Company”), a leading global rental car company, today announced that it has priced a SEC-registered offering of 37,037,037 shares of its common stock, par value $0.01 per share, (the “Common Stock”), at a public offering price of $2.70 per share. Such shares (the “Borrowed Shares”) will be loaned by the Company to J.P. Morgan Securities LLC (in such capacity, the “Share Borrower”), one of the underwriters of the offering of the Borrowed Shares, pursuant to a share lending agreement. The Share Borrower or its affiliates will receive all of the proceeds of the offering of Borrowed Shares and neither the Company nor The Hertz Corporation, the Company’s wholly-owned indirect subsidiary (the “Hertz Corp.”), will receive any of the proceeds of the offering, but the Share Borrower will pay the Company a nominal lending fee for the use of the Borrowed Shares pursuant to the share lending agreement. The Share Borrower will be required to return the Borrowed Shares (or identical shares of Common Stock) to the Company pursuant to the terms of the share lending agreement. The Company has been informed by the Share Borrower that it or one of its affiliates intends to sell the Borrowed Shares and use the resulting short position to facilitate transactions by which investors in the Notes (as defined below) may hedge their investments through short sales or privately negotiated derivatives transactions. The activity described above could affect the market price of the Common Stock otherwise prevailing from time to time. The offering of the Borrowed Shares is contingent upon the closing of a private offering of the Exchangeable Senior First-Lien Secured PIK Notes due 2030 (the “Notes”) that Hertz Corp. priced today. The private offering of the Notes is not contingent upon the closing of the offering of the Borrowed Shares.
The offering of the Borrowed Shares was made by means of a prospectus. Copies of the prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone 1-866-803-9204 or from Barclays Capital Inc, c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 or by phone at 1-888-603-5847.
This press release is not an offer to sell or purchase or a solicitation of an offer to sell or purchase the Borrowed Shares or the Notes, and does not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.
ABOUT HERTZ
Hertz Global Holdings, Inc. is one of the world’s leading car rental and mobility solutions providers. Its subsidiaries, including The Hertz Corporation, and licensees operate the Hertz, Dollar, Thrifty, and Firefly vehicle rental brands, with more than 11,000 rental locations in 160 countries around the globe. The Company also operates the Hertz Car Sales brand, which offers a range of quality, competitively priced used cars for sale online and at locations across the United States, and the Hertz 24/7 car-sharing business in Europe.
This press release contains “forward-looking statements” within the meaning of the federal securities laws. Words such as “expect,” “will” and “intend” and similar expressions identify forward-looking statements, which include but are not limited to statements related to our positioning, strategy, vision, forward looking investments, conditions in the travel industry, our financial and operational condition, our sources of liquidity, the offering of the Borrowed Shares, the offering of the Notes and the anticipated completion and timing of the offering. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including risks and uncertainties related to completion of the offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the offering, unanticipated uses of capital and those in our risk factors that we identify in the prospectus for the offerings and our most recent annual report on Form 10-K for the year ended December 31, 2025, as filed with the U.S. Securities and Exchange Commission on February 26, 2026, and any updates thereto in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and we undertake no obligation to update this information.
Shares of Hertz Global Holdings plunged on Wednesday after the car-rental company warned that second-quarter earnings are tracking toward the lower end of its guidance range, citing unexpected weakness in the used-car market.
The stock sank more than 38% during trading and was on track for its largest-ever single-day percentage decline and its lowest close since March 2025, according to Dow Jones Market Data.
Hertz said it expects second-quarter adjusted corporate earnings before interest, taxes, depreciation and amortization (EBITDA) of between $50 million and $80 million.
While the forecast remains within its previously projected range, it is expected to land near the lower end of guidance and below Wall Street expectations.
Analysts surveyed by LSEG had projected second-quarter EBITDA of $79.11 million on average.
The company attributed the weaker outlook to softer-than-expected conditions in the used-car market, which increased depreciation costs and weighed on profitability.
Hertz said "unexpected" softness in the used-car market led it to record losses on vehicle sales in May after generating gains in April.
The company now expects net depreciation per vehicle per month to be approximately $300 during the second quarter.
Last month, Hertz had projected depreciation to come in well below that level, supported by anticipated gains from second-quarter vehicle sales.
In a securities filing, Hertz said the slowdown in the used-car market had driven up depreciation expenses, creating a significant headwind for earnings.
The company noted that fleet size, revenue, rental days, and revenue per day are expected to meet or slightly exceed prior expectations, supported by healthy demand and stronger-than-anticipated capacity utilization.
However, the losses on vehicle dispositions have offset those positives and pressured profitability.
The update comes as the broader used-car market faces challenges despite higher US tariffs increasing the cost of new vehicles and pushing some consumers toward pre-owned cars.
Macroeconomic pressures and strained household budgets have made it difficult for used-vehicle companies to maintain margins.
Adding to investor concerns, Hertz announced plans for a $100 million public stock offering alongside a $300 million offering of exchangeable senior first-lien secured payment-in-kind (PIK) notes due 2030.
The company said proceeds from the note offering will be used for general corporate purposes, including the potential repayment of outstanding debt.
Under the arrangement, Hertz will lend the newly issued shares to underwriter J.P. Morgan Securities, allowing investors to establish short positions to hedge purchases of the notes.
Hertz will receive only a nominal lending fee from the stock transaction and no direct proceeds from the share sale itself.
The notes will pay interest through a combination of cash and payment-in-kind interest and may be exchanged for cash, Hertz common stock, or a combination of both at the company's election.
The number of shares issuable upon exchange is capped at 19.9% of outstanding shares unless shareholders approve a larger issuance.
Wednesday's selloff extended a difficult period for Hertz shares.
Including the latest losses, the stock has fallen roughly 28% this year and nearly 50% over the past 12 months.
The company has spent the past year streamlining operations, refreshing its fleet, and working to improve its financial position.
Hertz also sought to rebuild investor confidence through partnerships, including agreements announced in April with Uber Technologies to support the ride-hailing company's robotaxi ambitions.
However, persistent challenges in the used-car market and concerns about profitability continue to weigh on investor sentiment.
Hertz Corp. plánuje soukromou nabídku směnitelných seniorních prvně zajištěných PIK dluhopisů za 300 milionů USD splatných v roce 2030. Výnosy chce použít na obecné firemní účely, včetně splácení dluhu.
ESTERO, Fla.--(BUSINESS WIRE)--Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz” or the “Company”), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation (“Hertz Corp.”), intends to offer, subject to market and other conditions, $300 million in aggregate principal amount of Exchangeable Senior First-Lien Secured PIK Notes due 2030 (the “Notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Hertz Corp. also expects to grant the initial purchasers of the Notes an option to purchase, for settlement within a period of 13 days from, and including, the date the Notes are first issued, up to an additional $45 million in aggregate principal amount of Notes.
Hertz Corp. intends to use the net proceeds received from the offering of the Notes for general corporate purposes, which may include the repayment of outstanding indebtedness.
The Notes will bear interest from, and including, the issue date of the Notes, payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2027. Each payment of interest on the Notes (excluding any additional interest, special interest and default interest) will consist of (i) a portion to be paid in cash and (ii) a portion to be paid in the form of PIK interest. The interest rate, exchange rate and certain other terms of the Notes will be determined by negotiations between Hertz Corp. and the initial purchasers of the Notes. The Notes will mature on July 1, 2030, unless earlier repurchased, redeemed or exchanged in accordance with their terms prior to maturity. The Notes will be exchangeable at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The Notes will be exchangeable on the terms set forth in the indenture governing the Notes into cash, shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), or a combination thereof, at Hertz Corp.’s election. The aggregate number of shares of Common Stock that may be issued upon exchange of the Notes may not exceed 19.9% of the number of shares of Common Stock outstanding prior to the offering of the Notes unless and until the shareholders of the Company approve such issuance.
Holders of the Notes will have the right to require Hertz Corp. to repurchase all or a portion of their Notes at 100% of their capitalized principal amount of the Notes plus accrued and unpaid cash interest to, but excluding, the date of such repurchase, upon the occurrence of certain corporate events constituting a “fundamental change” as defined in the indenture governing the Notes. Hertz Corp. may not redeem the Notes prior to January 6, 2029. On or after January 6, 2029 and on or prior to the 31st scheduled trading day immediately preceding the maturity date, if the last reported sale price per share of Common Stock has been at least 130% of the exchange price for the Notes for certain specified periods, and certain other conditions are satisfied, Hertz Corp. may redeem all or any portion (subject to certain limitations) of the Notes at a cash redemption price equal to 100% of the capitalized principal amount of the Notes to be redeemed plus accrued and unpaid cash interest to, but excluding, the date of such redemption.
The Notes are expected to be guaranteed by the Company, Rental Car Intermediate Holdings, LLC, Hertz Corp.’s direct parent company, and each of Hertz Corp.’s existing domestic subsidiaries and future restricted subsidiaries that guarantee indebtedness under Hertz Corp.’s first lien credit facilities or certain other indebtedness for borrowed money. The Notes and the related guarantees (other than the guarantee by the Company) are expected to be secured (subject to certain exceptions and permitted liens) on a first-lien basis by the same assets (other than certain excluded property) that secure indebtedness under Hertz Corp.’s first lien credit facilities and existing first lien secured notes, and are therefore expected to be effectively pari passu with indebtedness under Hertz Corp.’s first lien credit facilities and existing first lien secured notes.
The Notes and the related guarantees will be offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The Notes, the related guarantees and any shares of Common Stock issuable upon exchange of the Notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and the securities laws of any other jurisdiction.
Concurrently with the offering of the Notes, Hertz also announced today by separate press release that Hertz has commenced a separate registered public offering of $100 million of the Common Stock. Such shares (the “Borrowed Shares”) will be loaned by Hertz to a financial institution (the “Share Borrower”), acting as an underwriter in the offering of the Borrowed Shares, pursuant to a share lending agreement. The Share Borrower or its affiliates will receive all of the proceeds of the concurrent offering of Borrowed Shares and neither Hertz nor Hertz Corp. will receive any of the proceeds of that offering, but the Share Borrower will pay Hertz a nominal lending fee for the use of the Borrowed Shares pursuant to the share lending agreement. The Share Borrower will be required to return the Borrowed Shares (or identical shares of Common Stock) to the Company pursuant to the terms of the share lending agreement. Hertz has been informed by the Share Borrower that it or one of its affiliates intends to sell the Borrowed Shares and use the resulting short position to facilitate transactions by which investors in the Notes may hedge their investments through short sales or privately negotiated derivatives transactions. The activity described above could affect the market price of the Common Stock or the Notes otherwise prevailing from time to time.
This press release is not an offer to sell or purchase, or a solicitation of an offer to sell or purchase, the Notes, the related guarantees, the shares of Common Stock issuable upon exchange of the Notes or the Borrowed Shares and does not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.
The concurrent offering of the Borrowed Shares is contingent upon the closing of the offering of the Notes, but the offering of the Notes is not contingent upon the closing of the concurrent offering of the Borrowed Shares.
ABOUT HERTZ
Hertz Global Holdings, Inc. is one of the world’s leading car rental and mobility solutions providers. Its subsidiaries, including The Hertz Corporation, and licensees operate the Hertz, Dollar, Thrifty, and Firefly vehicle rental brands, with more than 11,000 rental locations in 160 countries around the globe. The Company also operates the Hertz Car Sales brand, which offers a range of quality, competitively priced used cars for sale online and at locations across the United States, and the Hertz 24/7 car-sharing business in Europe.
This press release contains “forward-looking statements” within the meaning of the federal securities laws. Words such as “expect,” “will” and “intend” and similar expressions identify forward-looking statements, which include but are not limited to statements related to our positioning, strategy, vision, forward looking investments, conditions in the travel industry, our financial and operational condition, our sources of liquidity, the proposed offering of the Notes, the proposed offering of the Borrowed Shares, the anticipated terms of the Notes and Hertz Corp.’s expected use of proceeds from the proposed offering. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including risks and uncertainties related to completion of the offering on the anticipated terms or at all, market conditions (including market interest rates) and the satisfaction of customary closing conditions related to the offering, unanticipated uses of capital and those in our risk factors that we identify in the offering memorandum for the offering and our most recent annual report on Form 10-K for the year ended December 31, 2025, as filed with the U.S. Securities and Exchange Commission on February 26, 2026, and any updates thereto in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and we undertake no obligation to update this information.
ESTERO, Fla.--(BUSINESS WIRE)--Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz” or the “Company”), a leading global rental car company, today announced that it intends to offer shares of its common stock, par value $0.01 per share, (the “Common Stock”) at an aggregate public offering price of $100 million in a SEC-registered offering. Such shares (the “Borrowed Shares”) will be loaned by the Company to J.P. Morgan Securities LLC (in such capacity, the “Share Borrower”), one of the underwriters of the offering of the Borrowed Shares, pursuant to a share lending agreement. The Share Borrower or its affiliates will receive all of the proceeds of the offering of Borrowed Shares and neither the Company nor The Hertz Corporation, the Company’s wholly-owned indirect subsidiary (the “Hertz Corp.”), will receive any of the proceeds of the offering, but the Share Borrower will pay the Company a nominal lending fee for the use of the Borrowed Shares pursuant to the share lending agreement. The Share Borrower will be required to return the Borrowed Shares (or identical shares of Common Stock) to the Company pursuant to the terms of the share lending agreement. The Company has been informed by the Share Borrower that it or one of its affiliates intends to sell the Borrowed Shares and use the resulting short position to facilitate transactions by which investors in the Notes (as defined below) may hedge their investments through short sales or privately negotiated derivatives transactions. The activity described above could affect the market price of the Common Stock otherwise prevailing from time to time. The offering of the Borrowed Shares is contingent upon the closing of a private offering of the Exchangeable Senior First-Lien Secured PIK Notes due 2030 (the “Notes”) that Hertz Corp. intends to offer, subject to market and other conditions, in a private placement to qualifying investors. The private offering of the Notes is not contingent upon the closing of the offering of the Borrowed Shares.
The offering of the Borrowed Shares will be made by means of a prospectus. Copies of the prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone 1-866-803-9204.
This press release is not an offer to sell or purchase or a solicitation of an offer to sell or purchase the Borrowed Shares or the Notes, and does not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.
ABOUT HERTZ
Hertz Global Holdings, Inc. is one of the world’s leading car rental and mobility solutions providers. Its subsidiaries, including The Hertz Corporation, and licensees operate the Hertz, Dollar, Thrifty, and Firefly vehicle rental brands, with more than 11,000 rental locations in 160 countries around the globe. The Company also operates the Hertz Car Sales brand, which offers a range of quality, competitively priced used cars for sale online and at locations across the United States, and the Hertz 24/7 car-sharing business in Europe.
This press release contains “forward-looking statements” within the meaning of the federal securities laws. Words such as “expect,” “will” and “intend” and similar expressions identify forward-looking statements, which include but are not limited to statements related to our positioning, strategy, vision, forward looking investments, conditions in the travel industry, our financial and operational condition, our sources of liquidity, the proposed offering of the Borrowed Shares, the proposed offering of the Notes and the anticipated completion and timing of the offering. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including risks and uncertainties related to completion of the offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the offering, unanticipated uses of capital and those in our risk factors that we identify in the prospectus for the offerings and our most recent annual report on Form 10-K for the year ended December 31, 2025, as filed with the U.S. Securities and Exchange Commission on February 26, 2026, and any updates thereto in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and we undertake no obligation to update this information.
