Key Highlights

  • Total Debt stood at USD 18.7 billion on June 30, 2026: USD 12.7 billion tied to vehicles and USD 6.0 billion outside vehicles, with net debt of USD 18.0 billion.
  • Adjusted Corporate EBITDA for the second quarter hit USD 81 million, compared with USD 18 million a year earlier and beating the top of the revised outlook, while GAAP Net Income of USD 64 million included a USD 98 million Warrant gain.
  • Shares fell 27.6% on June 24, 2026, landing near USD 3.66 once a guidance reduction and planned equity-linked raises were announced; published market data later quoted USD 2.24, a gain of 8.21%, on 7.44 million shares.
  • Liquidity was USD 984 million at quarter end and slightly above USD 1 billion pro forma, while third-quarter results are set for November 5, 2026.

The June 24 Guidance Cut and Share Sale Plan

Hertz Global Holdings (NASDAQ:HTZ) rents cars under the Hertz, Dollar and Thrifty names. Published coverage reported that on June 24, 2026 the stock fell 27.6% to roughly USD 3.66 once management reduced its second-quarter Adjusted Corporate EBITDA target to USD 50 million to USD 80 million, pointing to soft used-car values. Alongside that cut came USD 300 million of exchangeable senior notes and a USD 100 million common stock sale. Fresh shares dilute current owners, which accounts for part of the drop. The company said a July add-on to those notes pushed pro forma Liquidity a little above USD 1 billion. The quote has since slipped further, so on published data the name trades as a Penny Stock beneath USD 5.

Second Quarter Beat Revised Guidance, Leverage Stays Extreme

On August 6, 2026, Hertz posted USD 2.4 billion of revenue, a 10% gain, while its adjusted loss totaled USD 47 million, which works out to USD 0.11 a share, against USD 91 million in the prior year. A USD 98 million rise in the Fair Value of public warrants lifted GAAP profit to USD 64 million. Adjusted Corporate EBITDA of USD 81 million cleared the revised range. Trailing twelve-month Adjusted Corporate EBITDA, however, was negative USD 59 million, so net corporate leverage has no meaningful value. Liquidity ended at USD 984 million. Recalls reduced GAAP net income by roughly USD 27 million, and Depreciation per unit per month went up 18% to USD 302.

What Penny Stock Trading Means Before the November 5 Report

Shares of a penny stock can jump on modest volume. At USD 2.24, Hertz Global Holdings (NASDAQ:HTZ) showed an 8.21% advance on 7.44 million shares in published data, but that snapshot is undated and no comparison with normal Volume was checked. Wide spreads, a few trades and reversals are all possible here, so nothing in this data implies further gains. Management guides full-year net depreciation per unit to USD 300 or less. Reconciled figures for third-quarter or full-year Adjusted Corporate EBITDA guidance were not in the material, and market Capitalization is unverified.

Where Things Stand

It carries the debt today, but leverage, not second-quarter operations, is the binding constraint. Hertz Global Holdings (NASDAQ:HTZ) owes USD 18.7 billion, most of it vehicle financing, and posts negative trailing EBITDA, so Equity sits behind a very large claim despite beating revised second-quarter guidance. The June capital raise and the warrant gain also muddy GAAP comparisons. The next catalyst arrives with the third-quarter report on November 5, 2026, which will show whether depreciation per unit, used-car prices, recalls and liquidity have improved. Given the penny stock status, shares can swing sharply on thin trading.