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Jun 30, 2023
Avis Q2 2023 Earnings Report
Avis Budget Group's financial performance showcased strong earnings power, driven by robust demand and seasonal revenue per day increase.
Key Takeaways
Avis Budget Group reported revenues of $3.1 billion and a net income of $436 million for Q2 2023. Adjusted EBITDA reached $737 million, with vehicle utilization up 50 basis points compared to the previous year, at 70.5%.
Revenues reached $3.1 billion, with rental days up 4% compared to Q2 2022.
Adjusted EBITDA in the Americas was $631 million, driven by strong demand and improved utilization.
Adjusted EBITDA in International was $126 million, driven by strong seasonally increasing volume.
Voluntary cash contribution of nearly $400 million was made to vehicle programs during the quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Summer travel has continued to be robust with elevated peak period demand and seasonally improved pricing.
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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