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Sep 30, 2025
Avis Q3 2025 Earnings Report
Avis reported its Q3 2025 results with $3.5 billion in revenue and $359 million in net income, driven by improved international performance and cost control.
Key Takeaways
Avis returned to top-line growth in Q3 2025. Net income rose 51% year-over-year as lower fleet costs and efficiency gains in international operations supported profitability. Revenue per day dipped slightly in the Americas but increased in international markets.
Revenue reached $3.52 billion, up 1% from Q3 2024.
Net income was $359 million, a 51% year-over-year increase.
International segment revenue rose 7%, while Americas declined 1%.
Total vehicle utilization was strong at 72.0%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Avis Budget did not issue specific numeric forward guidance but emphasized ongoing cost controls and efficiency efforts, particularly in fleet management and international operations.
Positive Outlook
- International segment showed strong growth in revenue and profitability.
- Lower fleet costs contributed to margin improvement.
- Cash and liquidity position remains strong at $564 million in cash and $1.9 billion fleet funding capacity.
- Adjusted EBITDA increased to $559 million, up 11% year-over-year.
- Debt maturities extended, improving financial flexibility.
Challenges Ahead
- Revenue per day in Americas declined 3% year-over-year.
- Free cash flow was negative $517 million due to large fleet investments.
- Corporate debt increased to over $6 billion.
- Total revenue growth remained modest at 1%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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