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Mar 31, 2022
Avis Q1 2022 Earnings Report
Avis Budget Group reported record first quarter results driven by strong pricing and volume as demand increased.
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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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