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.

Q2 Financial Performance Exceeds Wall Street Estimates

Hertz 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 Momentum

Hertz 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 Morning

HTZ Price Action: Hertz Global Holdings shares were up 16.01% at $1.81 during premarket trading on Thursday, according to Benzinga Pro data.

Read Also: Borrowing to the Brink: How Oracle’s AI Expansion Put Its Credit Rating on Life Support

Image: Shutterstock