By Nicholas G. Miller

Hertz swung to a third-quarter profit, boosted by plummeting depreciation, as the company continues its strategy to swap out older cars for a newer fleet.

The rental-car company on Tuesday reported net income of $184 million, or 42 cents a share, compared with a loss of $1.33 billion, or $4.34 a share, the year prior.

Adjusted earnings were 12 cents a share. Analysts expected adjusted earnings to break even, according to FactSet.

Sales fell to $2.48 billion from $2.58 billion the year before. Wall Street expected $2.39 billion.

Depreciation per unit per month fell 49% to $273 and the company said it now has "improved fleet economics."

In August, the Estero, Fla., company said it had started to sell used cars on Amazon in a move intended to offload more vehicles to retail buyers, which is a path to higher profits.

Hertz said the percentage of fleet sold via retail channels increased by 570 basis points in 2025 compared with the first nine months of 2024.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

November 04, 2025 08:20 ET (13:20 GMT)

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