Avis Q2 2021 Earnings Report
Key Takeaways
Avis Budget Group reported a strong second quarter with revenues up 212% compared to the prior year and 1% above 2019, reaching $2.4 billion. Net income was $398 million, and Adjusted EBITDA increased more than three times compared to 2019, reaching $624 million, marking the company's best quarterly Adjusted EBITDA in its history.
Total Company revenues were up 212% compared to second quarter 2020 and up 1% compared to 2019.
Adjusted EBITDA in the Americas was $634 million for second quarter 2021.
Adjusted EBITDA in International was $8 million for second quarter 2021.
Company issued $800 million asset-backed notes incurring lowest ever interest at a weighted average rate of 1.73%.
Avis
Avis
Avis Revenue by Segment
Avis Revenue by Geographic Location
Forward Guidance
The momentum seen in the second quarter is expected to continue through the summer, and the team will be ready to take advantage of increased demand while maintaining rigorous cost discipline.
Revenue & Expenses
Visualization of income flow from segment revenue to net income