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Mar 31, 2021
Avis Q1 2021 Earnings Report
Avis Budget Group's Q1 2021 financial results were announced, highlighting recovery through cost discipline and fleet optimization.
Key Takeaways
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.
Revenue per Day increased by 12% in the Americas due to improving demand.
The Americas achieved record first quarter Adjusted EBITDA margins due to cost discipline and improved demand.
International Adjusted EBITDA was nearly flat compared to Q1 2020, excluding currency exchange rate movements, due to cost mitigation.
The company completed senior notes offerings to redeem higher-interest debt, achieving its lowest interest rate on an unsecured notes offering.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Due to continued macro uncertainties, the company is not providing guidance at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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