HERTZ GLOBAL HOLDINGS, INC 8-K

What Happened
Hertz Global Holdings (filed June 24, 2026, Item 7.01, Regulation FD Disclosure) provided preliminary, unaudited expectations for the second quarter of 2026. The company said fleet size, revenue, revenue per day (RPD) and rental days are expected to align with or slightly exceed prior guidance, with RPD growth in Q2-to-date above the Q1 trend. However, softer-than-expected used car market results produced losses on vehicle sales in May (versus gains in April), and Hertz now estimates second-quarter net DPU (distributable cash per unit) per month to be approximately $300. Adjusted Corporate EBITDA for the quarter is preliminarily expected to be in the $50–$80 million range.

Key Details

• Filing date: June 24, 2026 (Current Report on Form 8-K, Item 7.01).
• Net DPU per month (preliminary): approximately $300 for Q2 2026.
• Adjusted Corporate EBITDA (preliminary): $50 million to $80 million.
• Preliminary figures are unaudited, subject to quarter-end close adjustments, and no reconciliation to GAAP net loss was provided due to variable items (e.g., change in fair value of public warrants).

Why It Matters
These preliminary figures show healthy operational demand (RPD and rental days) but lower distributable cash per unit in the quarter because of losses from used-vehicle sales. For investors, the $300 net DPU/month and the $50–$80M Adjusted EBITDA range provide an early view of Q2 performance but are unaudited and may change. The company also did not reconcile Adjusted Corporate EBITDA to GAAP net loss, noting that volatile warrant fair-value adjustments could materially affect GAAP results—so exercise caution and await audited quarterly financial statements before making decisions.