Kathy, and you, morning, Thank good everyone.
great a have We quarter.
improvement our building build results another and customer margin faster Our improvements our continued our commitment fleet, to These service adjusted marketing. revenue, product a growing, quarter reflect and higher reflect in of corporate driven of offering, major consolidated metrics. results operating business, key brand by year-over-year in EBITDA,
momentum we in growth initiatives, forward, our As and technology our to XXXX beyond. we productivity the in earnings drive laser-focus in expansion the investment growth and expect a margin on move from
income basis our Total growth our of $X.X was on let International per Net Slide share X%, Global from with company and income diluted $X.XX U.S. in million, our and provide Hertz net overview shows RAC measures. was in non-GAAP segment. growth up me $XXX total $X.XX, First, our segment, XXXX. moderate billion, was X results along to strong attributable exceptionally revenue by of an U.S consolidated our the driven GAAP in up RAC results. quarter nearly third
points These volume by On share to basis XXXX. per increased drivers from per income increased first to and share the our result was increase and adjusted million, U.S a EBITDA income offset $XXX were driven transformation net prior in primarily depreciation. lower $XXX and margin improved third Our and corporate higher partially to XX%, XX% to to a and $X.XX quarter corporate X% Adjusted is due interest per pricing XX expense diluted quarter. basis, adjusted $X.XX initiatives in adjusted vehicle the year expense, operations. support our revenue non-GAAP net EPS spending increased investment EBITDA by improved million, share growth of from both
and initiative color growth with year. with total TNC of or just The our X%. XX% of pricing prior versus U.S. increase days our the third me year, dedicated up T&M solid up key RAC start and up In strong X% RPD and fleet was transaction fleet. $X.XX revenue. some ride-hailing provide Let RAC takeaway transaction with were total X% X%, prior a the growth U.S. on me to additional quarter total that Ex-TNC in the segment, excluding over versus days quarter, X% X% RPD let grew saw grew volume billion, starting and delivered. revenues the rate We and
On-and both growth broad-based was growth with in Our brands, corporate and and leisure. Off-Airports all across
our service our well are These a blueprint market in initiatives key executing drivers brand-building line line adjusted was significant U.S. fleet tailwind performance. improvement versus per increase unit by the and the industry, of top sustained the a While decrease EBITDA a XX% corporate remains prior growth XX% vehicle are customer in a management, provided and $XXX for driven demand top business. with marketing a disciplined teams the year, depreciation. in RAC strong million, our results for that
our heavily in invest investments to our And operations offering continue we into initiatives expect new those technology. transformation productivity. future and and enable and product service We will
it fleet, express and turning up was ex-TNC we X% fleet. Now to X%
initiatives. growth managed traction our strong I've market As accordingly. earlier, a mentioned good fleet saw our We've and demand on we
like was our and have approach This fleet utilization up predictive to costs. analytics which is of price vehicle science is we profitable us to per unit hoping management Additionally fleet data rigorously revenue and basis and uses points and capacity XX match XX%, fleet more revenue demand. teams our disciplined as
program reduced demand line quarter. in the highly fleet fleet have the tighten to mix returns successfully fourth with order size with for in in We our sales projections
versus XX% expense decreased Moving prior And result to unit vehicle unit acquisition, the depreciation. On Monthly $XXX depreciation of vehicle costs expense XX% of and in quarter. was to with execution, solid outcomes depreciation When channel initiatives, we've vehicle execution. strength managed fleets high were year residual vehicle we value return sales a fleet feet quarter. retail and per up our the utilized on and disciplined a aggressively dispositions look non-program our depreciation. our acquisition better the our
channel us Our our platform advantage drive new growth in invest and has our a to web-based and given world-class profitability. to revenue retail locations competitive where sales-team, continue we
posted new the buyers the quarter. XX% third as favorable index the rental with addition, in increase month that per Manheim In is
been As fleet in holding locating a have costs. our and result, optimizing we opportunistic
was days to segment, were up revenues to Moving down transactions RPD X%. million, X%. International The being points, up our utilization which basis RAC to RPD contributed increased our flat was only and X% XXX $XXX
in we solid ex-Brazil RPD X% notably Europe, of and expected up were were in X%, which by days X%. leisure was results in by last growth slower growth most remained August, Commercial transaction solid growth up was Brazil, exited in offset APAC, Excluding up Spain. driven revenue The than Europe.
operating a we of by XX% unit currency. X% in expenses. RAC due drag reported a depreciation decreases year higher foreign driven interest and per adjusted to two-point revenue higher million, segment In $XXX EBITDA versus corporate on have prior vehicle direct increase costs, an quarter, addition, International the
true the top profitability line set with quarters coming We on growth and providing are growth focused initiatives. focused in of productivity in International a and the
free cash like I'd and to liquidity provide update Now, on financing an our flow. activities, corporate
XXXX. focused until debt we maturity managing of First, non-vehicle October the on with significant stack profile the remain maturities no debt
We opportunistic will as capital performance as relates our execution markets continue financial improves. our it to be to
over declined corporate X.X to is adjusted corporate three Our debt, year measured times XX.X EBITDA end corporate leverage at XXXX. by times to times net from
We to as deleveraging continue business improve. on results our focus the operating
in revolving so €X of those full On front, required liquidity X.Xx enhance facility of Xx. billion European corporate with nearly securitization the corporate the established credit facility We was under ended on financing $X.X senior by our facility September needs. allow not quarter covenant not to a platform us costs vehicle provide our Xst until XXth. billion fleet ratio the new The will to stain liquidity funding our and drawn the it sheet and on we Europe. insight as in more bank-funded lower our with The on overall European with our new first-lien lines our balance of is reflected of for October, fleet the reducing flexibility European securitization our
depreciation, adjusted on million Turning $XXX operations as traction improvement first flow million, million year-over-year cash free nine to by cash negative operations, months largely we cash a XXXX. improvement The improvement from September, relative related gain turnaround. to was flow. Year-to-date, our excluding in driven $XXX continue was vehicle $XXX to
in flow vehicle adjusted and remainder versus free declined. flow. forecast depreciation needs full cash XXXX. operating overall our for positive market the ABS for corporate million negative now residual by our forecasted strong being continued hence driven the outlook cash consistent value U.S. share. use $XXX fleet positive We vehicle cash to less cash value fleet, fair flow positive primarily seasonally The higher of favorable the year value market XXXX on cash a the and adjusted with expect us in is fleet our cash excluding improvement enable lease provided impact to marks flow, than in as We improvement being year free The
to transformation for be questions. leveraging marketing; will the two, a excellence, key wrap forward, thrilled three create Hertz are up, The join we in business. be a drive driver improving it operator forward on line look key the in service and delivering, to have three, and will to to technology focus will growth we’re updating efficiency I innovation I'm executing fleet over opportunity marketplace. a With These enabler productivity. winning growth growing excited management, disciplined And which shareholder the key you areas the that higher tech team to future one; on faster with about I’m brand-building the help the to for same if margin and I and and catalyst Operator? growth; operational to back will So, our momentum you quarters. that, areas: top maintaining returns. on look the turn progress focus initiatives
