HTZWW — what changed in the latest 10-Q
A section-by-section comparison of HTZWW's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-08 vs the prior 10-Q · 2025-11-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +74 | −140 | ~28 | 81 |
| Market risk (Item 3) | Text added/removed | +1 | −2 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~4 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +2 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-08
•Depreciation Per Unit Per Month – important key metric to management and investors as depreciation of revenue earning vehicles and lease charges is one of our largest expenses for the vehicle rental business
and is driven by the number of vehicles, expected residual values at the expected time of disposal and expected hold period of the vehicles. Depreciation Per Unit Per Month is reflective of how we are managing the costs of our vehicles and facilitates a comparison with other participants in the vehi…
•Total Revenue Per Unit Per Month ("Total RPU") – important key metric to management and investors as it provides a measure of revenue productivity relative to the number of vehicles in our rental fleet whether owned or leased ("Average Rentable Vehicles"). Average Rentable Vehicles excludes vehicle…
requires significant expenditures for vehicles, and, as such, we require substantial liquidity to finance such expenditures.
Through our "Back-to-Basics" roadmap, we are committed to executing a comprehensive strategy to transform our business, anchored by three financial pillars: disciplined fleet management, revenue optimization and rigorous cost control. Building on our brand strength, global network and fleet manageme…
Text removed vs the prior filing · source: 10-Q · 2025-11-04
•Depreciation Per Unit Per Month – important key metric to management and investors as depreciation of revenue earning vehicles and lease charges is one of our largest expenses for the vehicle rental business and is driven by the number of vehicles, expected residual values at the expected time of d…
•Total Revenue Per Unit Per Month ("Total RPU") – important key metric to management and investors as it provides a measure of revenue productivity relative to the number of vehicles in our rental fleet whether owned or leased ("Average Rentable Vehicles"). Average Rentable Vehicles excludes vehicle…
Our strategy is focused on excellence in execution of the basics. We are committed to delivering unmatched customer experiences, optimizing fleet economics and building on our leadership in ride share. We expect that continuing to build on our brand strength, global network and global fleet manageme…
Our revenues are primarily derived from rental and related charges and consist of worldwide vehicle rental revenues from all company-operated vehicle rental operations and charges to customers for the reimbursement of costs incurred relating to airport concession fees and vehicle license fees, the f…
Three and Nine Months Ended September 30, 2025 Operating Overview
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-08
As of March 31, 2026, there have been no material changes to the information reported under Part II, Item 7A of our 2025 Form 10-K.
Text removed vs the prior filing · source: 10-Q · 2025-11-04
In September 2025, Hertz entered into the Capped Call Transactions 2030 to manage its exposure to market price movements of Hertz Global common stock in connection with the issuance of the Exchangeable Notes Due 2030. The Capped Call Transactions 2030 cover, subject to certain anti-dilution adjustme…
Except as discussed above, as of September 30, 2025, there have been no material changes to the information reported under Part II, Item 7A of our 2024 Form 10-K.
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-08
As previously disclosed in Note 15, "Contingencies and Off-Balance Sheet Commitments," in Part II, Item 8 of the Company's Annual Report on Form 10-K for the year ended December 31, 2022, the Company initiated litigation in March 2019 against certain former executives, predominantly alleging breach …
On March 13, 2026, the Court entered an order closing the Action and approving a service award in the amount of $2,000, to be paid to Plaintiff from Plaintiff’s counsel’s attorneys’ fees and expenses. In entering the order, the Court did not otherwise review, and did not otherwise pass judgment on, …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice