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Sep 30, 2024
Avis Q3 2024 Earnings Report
Avis Budget Group's financial performance remained strong, driven by pricing strategies and improved vehicle utilization.
Key Takeaways
Avis Budget Group reported revenues of nearly $3.5 billion, net income of $238 million, and Adjusted EBITDA of $503 million for Q3 2024. The company focused on higher margin business and exercised strong fleet discipline, leading to stable revenue per day and improved vehicle utilization.
Revenues reached nearly $3.5 billion, with pricing down 2% but rental days in line with Q3 2023.
Americas Adjusted EBITDA was $384 million, supported by improved vehicle utilization and strong summer pricing, offset by higher fleet costs.
International Adjusted EBITDA was $139 million, driven by a 5% increase in rental days and improved vehicle utilization.
The company repurchased approximately 526,000 shares of common stock for nearly $43 million through October 30th.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The holidays look strong, and we believe we are well positioned to capitalize on this demand.
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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