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Hertz Hertz Global Holdings Reports Strong Quarterly Results October 28 , 2021 - Total revenues of $ 2.2 billion , up 19 % from second quarter 2021 - Net income of $ 605 million , or $ 1.13 per diluted share - Company reports records for both Adjusted Corporate EBITDA of $ 860 million and Adjusted Corporate EBITDA Margin of 39 % - Corporate liquidity of $ 3.8 billion at September 30th , including $ 2.7 billion in unrestricted cash , compared to $ 3.0 billion at second quarter - end - Company recently announced transformative initiatives with Tesla , Uber , and Carvana , positioning Hertz to play a central role in the modern mobility ecosystem - Hertz continues to build strong momentum since emergence with a focus on technology investments to reimagine the customer experience and optimize revenue ESTERO , Fla . , Oct. 28 , 2021 / PRNewswire / -- Hertz Global Holdings , Inc. ( OTCPK : HTZZ ; OTCPK : HTZZW ) ( " Hertz " , " Hertz Global " or the " Company " ) today announced financial results for the third quarter of 2021 . For the third quarter 2021 , the Company generated total revenues of $ 2.2 billion , reflecting the continued rebound in leisure travel and tight fleet inventory as Hertz executes against its strategic roadmap . While volume continued to be lower compared to 2019 levels , these headwinds were partially mitigated by improvements in pricing power . Adjusted Corporate EBITDA reached a record $ 860 million and the Company achieved a record 39 % margin for the third quarter , reflecting the team's dedication to continued operational improvement since completing the restructuring . Importantly , top- and bottom - line results were not meaningfully impacted in an incremental manner by the Delta Variant . " Hertz delivered another solid quarter , which puts us in a position of strength as we create the new Hertz and lead the future of mobility and travel , " said Mark Fields , Hertz's Interim Chief Executive Officer . " We see the opportunity for profitable growth by building on our iconic brand and global fleet management expertise , and combining it with new technology and new investments in electrification , shared mobility and a digital , customer - first experience . " AMERICAS RENTAL CAR ( " AMERICAS RAC " ) SUMMARY Percent Percent Americas RAC ( $ in millions , except where noted ) Total revenues 2021 Three Months Ended September 30 , 2020 Inc / ( Dec ) Inc / ( Dec ) -2021 vs. 2021 vs. 2019 $ 1,914 $ 892 $ 2,066 2020 NM 2019 ( 7 ) % Adjusted EBITDA Adjusted EBITDA Margin $ 830 $ ( 11 ) $ 298 43 % ( 1 ) % 14 % NM NM Transaction Days ( in thousands ) Total RPD ( in whole dollars ) ( 1 ) Average Vehicles ( in whole units ) Vehicle Utilization 387,368 389,605 591,327 ( 1 ) % ( 34 ) % 78 % 52 % 80 % 27,627 18,579 43,289 49 % ( 36 ) % $ 69.25 $ 48.07 $ 47.78 $ 1,166 44 % 45 % NM 41 % $ 21 $ 161 $ 246 ( 87 ) % ( 91 ) % Total RPU Per Month ( in whole dollars ) ( 1 ) $ 1,646 $ 764 Depreciation Per Unit Per Month ( in whole dollars ) ( 1 ) Effective during the three months ended September 30 , 2021 , the Company revised its calculation of Total RPD and Total RPU to include ancillary retail vehicle sales revenues . See the full definition and explanation of these key metrics set forth on page 20 of this release . NM - Not meaningful Americas RAC third quarter 2021 revenues reflect upward pricing trends due to management's structural improvements , positive momentum in domestic travel and industry - wide fleet constraints . Americas RAC record Adjusted EBITDA of $ 830 million and record margin of 43 % reflect the impact of strong pricing , disciplined fleet management and the Company's execution of cost reductions . INTERNATIONAL RENTAL CAR ( " INTERNATIONAL RAC " ) SUMMARY International RAC ( $ in millions , except where noted ) Total revenues Adjusted EBITDA Three Months Ended September 30 , 2021 2020 Percent Percent Inc / ( Dec ) Inc / ( Dec ) 2019 -2021 vs. 2021 vs. 2020 2019 38 % ( 48 ) % $ 78 $ ( 34 ) $ 86 NM ( 9 ) % $ 312 $ 227 $ 598