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Jun 30, 2024
Avis Q2 2024 Earnings Report
Avis Budget Group's financial performance declined due to decreased revenue and net income.
Key Takeaways
Avis Budget Group reported a decrease in revenue to $3.0 billion and a significant drop in net income to $15 million for Q2 2024. Adjusted EBITDA was $214 million. The company saw sequential monthly improvement in revenue per day and increased vehicle utilization in the Americas compared to the previous year.
Revenues exceeded $3.0 billion with rental days up 2% compared to Q2 2023.
Adjusted EBITDA in the Americas was $186 million, with rental days up 1% compared to Q2 2023.
International Adjusted EBITDA was $48 million, driven by improved vehicle utilization and a 5% increase in rental days compared to Q2 2023.
Vehicle utilization was 70.2% for the quarter, with June improving by approximately one point compared to June 2023.
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