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Hertz:Quarterly Results/2022 Q4: Difference between revisions
Hertz:Quarterly Results/2022 Q4 (view source)
Revision as of 10:32, 8 February 2023
, 8 February 2023→Results
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== Results == | == Results == | ||
Hertz reported earnings and revenue that beat analysts estimates by 2 cents and $2 million respectively. | |||
NOTES: | NOTES: | ||
-International inbound have been slower to recover but hold considerable promise for us. As of the fourth quarter in the Americas, corporate was at about 80% of 2019 levels and international inbound grew to about 50%, up from 45% in Q3. | -International inbound have been slower to recover but hold considerable promise for us. As of the fourth quarter in the Americas, corporate was at about 80% of 2019 levels and international inbound grew to about 50%, up from 45% in Q3. | ||
-We expect our average fleet size in Q1 to be higher than what we closed the year(480,000) in light of elevated levels of demand. | -We expect our average fleet size in Q1 to be higher than what we closed the year(480,000) in light of elevated levels of demand. | ||
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-Seasonally, first quarter revenue is normally slightly below Q4 based on a reduction in volumes and flat RPD. However, for Q1 this year, we expect revenue to be flat compared with Q4 with transaction days to hold steady. | -Seasonally, first quarter revenue is normally slightly below Q4 based on a reduction in volumes and flat RPD. However, for Q1 this year, we expect revenue to be flat compared with Q4 with transaction days to hold steady. | ||
-Both rate and volume met our expectations for the quarter, as we laid out on our last call, and I'll reiterate that the volume performance was 500 bps better than seasonality typically yield. Utilization increased 100 bps year-over-year despite severe air travel disruptions in the U.S. at year-end. | |||
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