Hertz Global Holdings completed a US$100,000,000 follow-on offering of 37,037,037 common shares at US$2.70 each in late June 2026, alongside a planned US$300,000,000 exchangeable notes sale, after cutting its second-quarter earnings outlook due to higher depreciation and losses on used-vehicle sales. The twin equity and debt raises highlight how weaker used-car market conditions are pressuring Hertz's profitability and prompting it to reinforce its balance sheet through fresh capital. The company's narrative projects US$9.9 billion revenue and US$606.2 million earnings by 2029, requiring 4.3% yearly revenue growth and about a US$1.24 billion earnings increase from negative US$637.0 million today. Some of the most optimistic analysts were penciling in about US$9.6 billion of revenue and roughly US$649 million of earnings by 2029, a view that now looks more contested in light of the latest used car and capital raising news.
Hertz Global Holdings IncCompany cut Q2 earnings outlook due to higher depreciation and losses on used-vehicle sales, and completed a dilutive equity raise.