By Nicholas G. Miller

Hertz reported a narrower first-quarter loss as its strategy of making its fleet younger lowers costs and boosts revenue.

The company posted a loss of $333 million, or $1.06 a share, compared with a loss of $443 million, or $1.44 a share, the year prior.

On an adjusted basis, the company had a loss of 72 cents a share. Analysts polled by FactSet expected a loss of 65 cents a share.

Revenue rose 11% to $2 billion. Wall Street expected $1.88 billion. Revenue per day increased 5.5% year-over-year.

Net depreciation per unit per month improved 13%, which the company said was driven by "disciplined fleet rotation." Hertz has adopted a strategy of swapping in newer vehicles, reducing the declines in car value the company logs on its balance sheet and improving the fleet's capacity by cutting down on the time the cars need to be serviced.

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

(END) Dow Jones Newswires

May 07, 2026 08:15 ET (12:15 GMT)

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