Hertz has improved upon its financial results from last year by cutting costs, so that they're better aligned with demand. Over the past few months, Hertz's business has also improved markedly, as more Americans get vaccinated, making them more comfortable with travel, at least within the United States. "This quarter we realized the first effects of the leisure travel rebound and capitalized on strong demand-driven pricing in destination markets that exceeded 2019 levels," said Paul Stone, Hertz Global's president and CEO, in a statement. "We're continuing to see improved demand and are optimistic about a sustained recovery." With that optimism, Hertz is working aggressively to replenish its fleet, "despite the constraints of the global semiconductor shortage and its impact on the automotive supply chain," Stone said.