HTZ - Hertz Global Holdings Inc. (HTZ) Q1 2024 Earnings Call Transcript

2024-04-25 13:17:03 ET

Hertz Global Holdings, Inc. (HTZ)

Q1 2024 Earnings Conference Call

April 25, 2024 08:30 AM ET

Company Participants

Johann Rawlinson - VP, IR

Gil West - Chair and CEO

Alexandra Brooks - EVP and CFO

Justin Keppy - EVP and COO

Darren Arrington - EVP, Revenue Management and Fleet Acquisition

Conference Call Participants

Chris Woronka - Deutsche Bank

Ian Zaffino - Oppenheimer

John Babcock - Bank of America

John Healy - Northcoast Research

Lizzie Dove - Goldman Sachs

Harold Antor - Jefferies

Christopher Stathoulopoulos - Susquehanna

Presentation

Operator

Welcome to the Hertz Global Holdings First Quarter 2024 Earnings Call. Currently, all lines are in a listen-only mode. Following management's commentary, we will conduct a question-and-answer session. I would like to remind you that this morning's call is being recorded by the company.

I would like to turn the call over to your host, Johann Rawlinson, Vice President of Investor Relations. Please go ahead.

Johann Rawlinson

Good morning everyone and thank you for joining us. By now, you should have our earnings press release and associated financial information. We've also provided slides to accompany our conference call and these can be accessed through the Investor Relations section of our website.

I want to remind you that certain statements made on this call contain forward-looking information. Forward-looking statements are not a guarantee of performance, and by their nature, are subject to inherent risks and uncertainties. Actual results may differ materially.

Any forward-looking information relayed on this call speaks only as of today's date, and the company undertakes no obligation to update that information to reflect changed circumstances.

Additional information concerning these statements is contained in our earnings press release and the filings we make with the Securities and Exchange Commission. Our filings are available on SEC’s website and the Investor Relations section of the Hertz website.

Today, we'll use certain non-GAAP financial measures, which are reconciled with GAAP numbers in our earnings press release and earnings presentation available on our website.

We believe that these non-GAAP measures provide additional useful information about our operations, allowing better evaluation of our profitability and performance. Unless otherwise noted, our discussion today focuses on our global business.

On the call this morning, we have Gil West, our recently Chief Executive Officer; Alex Brooks, our Chief Financial Officer; and Justin Keppy, our Chief Operating Officer. We're also joined by Darren Arrington, our Executive Vice President, Revenue Management and Fleet Acquisition

I'll now turn the call over to Gil.

Gil West

Thanks and good morning and thank you all for joining the call today. I want to acknowledge right upfront that this was a challenging quarter for Hertz. We have a lot of work still to do and I'll get to that shortly. But since I'm new to most of you, I want to take a few minutes to introduce myself before we dive into the numbers....

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