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Mar 31, 2024
Avis Q1 2024 Earnings Report
Avis Budget Group's financial performance reflected mixed results with strong travel demand driving revenue, offset by increased fleet costs and a net loss.
Key Takeaways
Avis Budget Group reported Q1 2024 revenues of $2.6 billion, driven by strong travel demand. However, the company experienced a net loss of $113 million and an Adjusted EBITDA of $12 million. The company disposed of a record number of vehicles to align fleet size with demand.
Revenues reached $2.6 billion with a 5% increase in rental days compared to Q1 2023.
Americas Adjusted EBITDA was $44 million, supported by robust demand.
International Adjusted EBITDA resulted in a loss of $15 million.
The company issued €600 million Senior Notes due February 2029 to redeem €350 million Senior Notes due January 2026.
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 press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income