Avis Q3 2022 Earnings Report
Key Takeaways
Avis Budget Group's Q3 2022 revenues increased by 18% compared to Q3 2021, reaching $3.5 billion, a new quarterly revenue record. Net income was $1.0 billion and Adjusted EBITDA was $1.5 billion, the best quarterly net income and Adjusted EBITDA in the company's history.
Total Company revenues increased by 18% and 29% compared to third quarter 2021 and 2019, respectively.
Adjusted EBITDA in the Americas was $1.2 billion for the third quarter 2022 driven by record demand.
Adjusted EBITDA in International was $291 million for the third quarter 2022 driven by increased pricing and return of demand.
QuickPass was successfully deployed across all major US airports.
Avis
Avis
Avis Revenue by Segment
Avis Revenue by Geographic Location
Forward Guidance
Despite growing concerns around an economic slowdown, our strong summer performance, driven by increased demand in both the commercial and leisure segments, carried through to September. We remain optimistic this will continue throughout the Fall and into the holiday season.
Revenue & Expenses
Visualization of income flow from segment revenue to net income