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# Hertz Stock Plunges 23%, Wiping Out $185 Million, After Profit Falls And Costs Climb
- URL: https://www.bullished.co/hertz-stock-plunges-23-wiping-out-185-million-after-profit-falls-and-costs-climb-2852e18d/
- Published: 2026-11-05T19:12:52.000Z
- Updated: 2026-11-05T19:12:52.000Z
- Description: The car-renter posted its best quarterly revenue in three years, but net income fell to $116 million and 2027 guidance came in wide.
- Author: Matteo Parrino
- Tags: Markets, HTZ, Industry: Industrials

[Hertz](https://www.bullished.co/tag/htz/), which rents cars under the Hertz, Dollar and Thrifty brands, saw its shares plunge 23.01% to $1.74 in Thursday trading, as of 2:11 p.m. ET, erasing $185 million in market value. The drop came on the day it reported third-quarter [net income of $116 million](https://www.benzinga.com/trading-ideas/movers/26/11/62920483/hertz-stock-hits-a-speed-bump-revenue-reaches-three-year-high-but-eps-misses-estimates?ref=bullished.co), down from $184 million a year earlier, as [higher collision and maintenance costs](https://es.qz.com/las-acciones-de-hertz-bajan-costos-de-mantenimiento-de-colisiones-afectan-ganancias-110526?ref=bullished.co) weighed on results.

## Revenue up, profit down

Quarterly [revenue of $2.6 billion](https://www.sec.gov/Archives/edgar/data/1657853/000165785326000086/htzz-20260930.htm?ref=bullished.co) grew 5.6% from a year earlier, the company reported. Adjusted EPS held at $0.14, while [GAAP earnings sank](https://www.sec.gov/Archives/edgar/data/0001657853/000165785326000085/htz-20261105.htm?ref=bullished.co).

Higher collision and maintenance spending weighed on profit, the company said, with direct operating expense per day up 6% from a year earlier. Adjusted corporate EBITDA, a profit measure that strips out certain items, was [$233 million](https://es.qz.com/las-acciones-de-hertz-bajan-costos-de-mantenimiento-de-colisiones-afectan-ganancias-110526?ref=bullished.co) for the quarter, which the company said was its best in three years.

## A wide range for 2027

On the [earnings call](https://www.benzinga.com/news/26/11/62925513/hertz-global-holdings-q3-2026-earnings-call-transcript?ref=bullished.co), management projected 2027 adjusted corporate EBITDA of between $500 million and $800 million. It also said it expects to end 2026 with about $800 million in liquidity.

The stock was on pace in Thursday trading for its biggest one-day drop since June 24, when it fell 40.7%.

## A stock already down 56%

Hertz shares were down about 56% year to date at Wednesday's close, badly trailing the S&P 500, which was up about 12% over the same span. The stock had still risen 28% over the previous month, yet sat 71% below its highest close of the past year, set on April 20.

Hertz rents cars and other vehicles to business and leisure travelers, insurance-replacement renters and ride share drivers. It also sells used cars and earns fees from franchisees. As of December 31, 2025, it operated from about 11,000 company-operated and franchisee locations in roughly 160 countries and jurisdictions.

Hertz's market value stood at $620 million in Thursday trading, after a 56% slide this year through Wednesday's close.

### Sources

- [Hertz Stock Hits a Speed Bump: Revenue Reaches Three-Year High, but EPS Misses Estimates](https://www.benzinga.com/trading-ideas/movers/26/11/62920483/hertz-stock-hits-a-speed-bump-revenue-reaches-three-year-high-but-eps-misses-estimates?ref=bullished.co) — benzinga.com
- [Las acciones de Hertz caen mientras los costos de colisión y mantenimiento afectan los resultados del tercer trimestre.](https://es.qz.com/las-acciones-de-hertz-bajan-costos-de-mantenimiento-de-colisiones-afectan-ganancias-110526?ref=bullished.co) — es.qz.com
- [Hertz Global Holdings Q3 2026 Earnings Call Transcript](https://www.benzinga.com/news/26/11/62925513/hertz-global-holdings-q3-2026-earnings-call-transcript?ref=bullished.co) — benzinga.com
- [Hertz Global Holdings, Inc. (HTZ) Lags Q3 Earnings Estimates](https://finance.yahoo.com/markets/stocks/articles/hertz-global-holdings-inc-htz-133514253.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [Hertz (NASDAQ:HTZ) reports Q3 2026 in line with expectations but stock drops](https://finance.yahoo.com/markets/stocks/articles/hertz-nasdaq-htz-reports-q3-133137037.html?ref=bullished.co) — Yahoo Finance
- [The company's filing (Hertz Global Holdings)](https://www.sec.gov/Archives/edgar/data/0001657853/000165785326000085/htz-20261105.htm?ref=bullished.co) — SEC filing
- [Compared to Estimates, Hertz Global (HTZ) Q3 Earnings: A Look at Key Metrics](https://www.zacks.com/stock/news/3024502/compared-to-estimates-hertz-global-htz-q3-earnings-a-look-at-key-metrics?cid=CS-ZC-FT-fundamental%5Fanalysis|nfm-3024502&ref=bullished.co) — Zacks Investment Research
- [Matson (MATX) Tops Q3 Earnings and Revenue Estimates](https://www.zacks.com/stock/news/3023506/matson-matx-tops-q3-earnings-and-revenue-estimates?cid=CS-ZC-FT-fundamental%5Fanalysis|yseop%5Ftemplate%5F4-3023506&ref=bullished.co) — Zacks Investment Research
- [Hertz Global Holdings — Form 10-Q for the quarter ended 2026-09-30 (quarterly results)](https://www.sec.gov/Archives/edgar/data/1657853/000165785326000086/htzz-20260930.htm?ref=bullished.co) — SEC EDGAR

### More on Hertz Global Holdings

- [Hertz Guides To A Fourth-Quarter EBITDA Loss And Trims Year-End Liquidity To About $800 Million](https://www.bullished.co/hertz-guides-to-a-fourth-quarter-ebitda-loss-and-trims-year-end-liquidity-to-about-800-0f838000/)
- [Hertz's Biggest Holders Buy Half Of Oro Mobility's Votes, Sell Back $51.1 Million Of Notes At 60% Off](https://www.bullished.co/hertzs-biggest-holders-buy-half-of-oro-mobilitys-votes-sell-back-51-1-million-of-notes-at-9282d515/)
- [Hertz Sells Investors 50% Of Oro's Votes But Only 15.86% Of Its Common Units, For $80.89 Million](https://www.bullished.co/hertz-sells-investors-50-of-oros-votes-but-only-15-86-of-its-common-units-for-80-89-36c38165/)

[All Hertz Global Holdings (HTZ) coverage →](https://www.bullished.co/tag/htz/)