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Sep 30, 2023
Avis Q3 2023 Earnings Report
Avis Budget Group's Q3 2023 performance was marked by robust revenues driven by peak demand and seasonal revenue per day increases, alongside solid net income and Adjusted EBITDA.
Key Takeaways
Avis Budget Group reported Q3 2023 revenues of $3.6 billion, net income of $627 million, and Adjusted EBITDA of $907 million. The company experienced record volume in the Americas, driven by strong demand and seasonal revenue per day increases.
Revenues reached $3.6 billion, with rental days up 5% compared to Q3 2022.
Adjusted EBITDA in the Americas was $740 million, fueled by strong demand and a seasonal revenue per day increase.
Adjusted EBITDA in International was $196 million, driven by peak demand.
The company repurchased approximately 2.2 million shares of common stock for $487 million during the quarter.
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
October started off strong and we expect it to continue throughout the holiday season.
Revenue & Expenses
Visualization of income flow from segment revenue to net income