Avis Q4 2022 Earnings Report
Key Takeaways
Avis Budget Group reported strong Q4 2022 results with revenues up 8% year-over-year to $2.8 billion, driven by increased revenue per day and strong demand. Net income was $424 million and Adjusted EBITDA was $658 million. Full year revenues reached a record $12.0 billion.
Total Company revenues were $2.8 billion for the fourth quarter, driven by strong demand and pricing.
Adjusted EBITDA in the Americas was $624 million for the fourth quarter, driven by record demand.
Adjusted EBITDA in International was $63 million for the fourth quarter, driven by increased pricing and return of demand.
The Board of Directors approved a $1 billion increase to the existing share repurchase authorization in February.
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Avis Revenue by Segment
Avis Revenue by Geographic Location
Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income