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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.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
No specific forward guidance was provided in the transcript.
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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