Avis Q3 2021 Earnings Report
Key Takeaways
Avis Budget Group reported a strong third quarter with revenues almost double the prior year, reaching $3.0 billion, a 9% increase compared to Q3 2019. Net income reached $674 million, and Adjusted EBITDA was $1,057 million, the highest in the company's history. The company's utilization for the quarter was 71.6%.
Total Company revenues increased by 96% compared to third quarter 2020.
Adjusted EBITDA in the Americas was $952 million for the third quarter 2021.
Adjusted EBITDA in International was $128 million for the third quarter 2021.
The company repurchased approximately 11.6 million shares of common stock in the third quarter.
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Forward Guidance
The press release contains forward-looking statements regarding the company's outlook, expectations, and future results, which are subject to various risks and uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income