Avis Earnings Reports

Avis Budget Group reported Q4 2024 revenue of $2.71 billion, down 2% YoY. The company posted a net loss of $1.96 billion, driven by a $2.3 billion non-cash impairment related to accelerated fleet rotation in the Americas. Adjusted EBITDA was a loss of $101 million.

Avis Budget Group reported revenues of nearly $3.5 billion, net income of $238 million, and Adjusted EBITDA of $503 million for Q3 2024. The company focused on higher margin business and exercised strong fleet discipline, leading to stable revenue per day and improved vehicle utilization.

Avis Budget Group reported a decrease in revenue to $3.0 billion and a significant drop in net income to $15 million for Q2 2024. Adjusted EBITDA was $214 million. The company saw sequential monthly improvement in revenue per day and increased vehicle utilization in the Americas compared to the previous year.

Avis Budget Group reported Q1 2024 revenues of $2.6 billion, driven by strong travel demand. However, the company experienced a net loss of $113 million and an Adjusted EBITDA of $12 million. The company disposed of a record number of vehicles to align fleet size with demand.

Avis Budget Group reported record revenue for the full year and the second-best Adjusted EBITDA in the company's history. Q4 revenues reached $2.8 billion, with a net income of $260 million and an Adjusted EBITDA of $311 million. The company paid a one-time special cash dividend of $10 per share and repurchased 1.4 million shares of common stock during the quarter.

Avis Budget Group reported Q3 2023 revenues of $3.6 billion, net income of $627 million, and Adjusted EBITDA of $907 million. The company experienced record volume in the Americas, driven by strong demand and seasonal revenue per day increases.

Avis Budget Group reported revenues of $3.1 billion and a net income of $436 million for Q2 2023. Adjusted EBITDA reached $737 million, with vehicle utilization up 50 basis points compared to the previous year, at 70.5%.

Avis Budget Group's first quarter revenues increased by 5% year-over-year to $2.6 billion, marking a new first quarter record. The company's net income was $312 million, and Adjusted EBITDA reached $535 million. Utilization improved to 68.4%, and the company's liquidity position remained strong at approximately $1.4 billion.

Avis Budget Group reported strong Q4 2022 results with revenues up 8% year-over-year to $2.8 billion, driven by increased revenue per day and strong demand. Net income was $424 million and Adjusted EBITDA was $658 million. Full year revenues reached a record $12.0 billion.

Avis Budget Group's Q3 2022 revenues increased by 18% compared to Q3 2021, reaching $3.5 billion, a new quarterly revenue record. Net income was $1.0 billion and Adjusted EBITDA was $1.5 billion, the best quarterly net income and Adjusted EBITDA in the company's history.

Avis Budget Group reported a record second quarter with revenues of $3.2 billion, a 37% increase compared to Q2 2021. Net income reached $774 million and Adjusted EBITDA was $1.2 billion, both historical quarterly records. The company's liquidity position at the end of the quarter was approximately $850 million, with an additional $1.9 billion of fleet funding capacity.

Avis Budget Group's Q1 2022 revenues increased by 77% year-over-year to $2.4 billion. Net income reached $527 million, with Adjusted EBITDA at $810 million, marking the company's best first quarter Adjusted EBITDA in history.

Avis Budget Group reported strong Q4 2021 results with revenues up 90% year-over-year and 19% above Q4 2019, reaching $2.6 billion. Net income was $381 million, and Adjusted EBITDA reached a record $683 million. The company's utilization rate was 68.2%, demonstrating effective fleet management.

Avis Budget Group reported a strong third quarter with revenues almost double the prior year, reaching $3.0 billion, a 9% increase compared to Q3 2019. Net income reached $674 million, and Adjusted EBITDA was $1,057 million, the highest in the company's history. The company's utilization for the quarter was 71.6%.

Avis Budget Group reported a strong second quarter with revenues up 212% compared to the prior year and 1% above 2019, reaching $2.4 billion. Net income was $398 million, and Adjusted EBITDA increased more than three times compared to 2019, reaching $624 million, marking the company's best quarterly Adjusted EBITDA in its history.

Avis Budget Group reported a revenue decrease of 22% compared to the previous year, with a net loss of $170 million. However, the company achieved an Adjusted EBITDA of $47 million, driven by cost management and revenue per day growth in the Americas.

Avis Budget Group announced Q4 2020 financial results with revenue down 37% compared to the prior year. Despite a net loss of $90 million, the company generated positive Adjusted EBITDA of $74 million through cost removal of more than $500 million. The Americas achieved their highest fourth quarter Adjusted EBITDA margins in the company's history.

Avis Budget Group announced third quarter 2020 financial results, with a net income of $45 million and adjusted net income of $79 million. The company achieved positive Adjusted EBITDA of $220 million through cost removal actions and fleet adjustments, removing approximately $1 billion of costs during the quarter.

Avis Budget Group announced Q2 2020 financial results, reporting a net loss of $481 million and an adjusted net loss of $388 million. Total revenues decreased by 67% year-over-year. The company focused on cost removal actions, targeting over $2.5 billion on an annualized basis, and improved cash burn by 36% compared to prior estimates.

Avis Budget Group reported a decrease in revenue by 9% to $1.8 billion in the first quarter of 2020, primarily due to the impact of the COVID-19 pandemic. The company experienced a net loss of $158 million, or $2.16 per diluted share, and an adjusted net loss of $103 million, or $1.40 per adjusted diluted share. In response to the crisis, Avis Budget Group implemented significant cost-saving measures, including personnel reductions and fleet size adjustments, targeting over $2.0 billion in annualized cost removal actions.

Avis Budget Group reported a record fourth quarter with revenues increasing to $2.2 billion, a 6% increase excluding currency exchange rate movements. Net income was $142 million, or $1.90 per diluted share, while Adjusted net income was $54 million, or $0.73 per diluted share. Adjusted EBITDA increased to $143 million, and utilization improved by 100 basis points.