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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.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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