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Mar 31, 2023
Avis Q1 2023 Earnings Report
Avis Budget Group reported a new first quarter record revenue, driven by strong demand and revenue per day in-line with prior year. Net income and Adjusted EBITDA were also reported.
Key Takeaways
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.
Revenues were $2.6 billion, a new first quarter record.
Revenue per day in-line with first quarter 2022.
Adjusted EBITDA in the Americas was $516 million.
Adjusted EBITDA in International was $50 million, a new first quarter record.
Avis
Avis
Avis Revenue by Segment
Avis Revenue by Geographic Location
Revenue by Segment
Americas Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
No specific forward guidance was provided in the transcript.
Revenue & Expenses
Visualization of income flow from segment revenue to net income