Avis Q1 2022 Earnings Report
Key Takeaways
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.
Total company revenues increased by 77% compared to Q1 2021.
Adjusted EBITDA in the Americas was $810 million, driven by strong pricing and volume.
Adjusted EBITDA in International was $23 million, the best first quarter in International's history.
Board of Directors approved a $2.0 billion increase to the stock repurchase program, bringing the available authorization to $2.3 billion.
Avis
Avis
Avis Revenue by Segment
Avis Revenue by Geographic Location
Forward Guidance
The press release contains forward-looking statements regarding outlook, expectations, and future results, which are subject to various risks and uncertainties.
Positive Outlook
- Statements related to future results.
- Statements about impacts from the COVID-19 outbreak.
- Statements about future travel levels.
- Statements about cost-saving actions.
- Statements about liquidity and cash flows.
Challenges Ahead
- Severity and duration of the COVID-19 outbreak.
- High level of competition in the mobility industry.
- Changes in fleet costs.
- Disruption in the supply of new vehicles.
- Financial condition of manufacturers that supply rental vehicles.
Revenue & Expenses
Visualization of income flow from segment revenue to net income