Avis Q4 2024 Earnings Report

Key Takeaways

Avis Budget Group reported Q4 2024 revenue of $2.71 billion, down 2% YoY. The company posted a net loss of $1.96 billion, driven by a $2.3 billion non-cash impairment related to accelerated fleet rotation in the Americas. Adjusted EBITDA was a loss of $101 million.

Total Revenue

$2.71B

Previous year: $2.76B

-2.0%

EPS

$14.5

Previous year: $7.1

+104.4%

Americas Revenue per Day

$68.6

Previous year: $69.9

-1.9%

International Revenue per Day

$54.2

Previous year: $54.2

-0.1%

Total Revenue per Day

$64.8

Previous year: $65.8

-1.5%

Gross Profit

$1.69B

Previous year: $775M

+118.3%

Cash and Equivalents

$597M

Previous year: $644M

-7.3%

Free Cash Flow

$6.5B

Previous year: $6.57B

-1.0%

Avis Revenue

Avis EPS

Avis Revenue by Geographic Location

Forward Guidance

Avis Budget Group expects 2025 to benefit from strong travel demand and improved fleet cost management, aiming for no less than $1 billion in Adjusted EBITDA.

Positive Outlook

Strong holiday and leisure travel demand
Improved fleet rotation strategy for cost management
Stable liquidity position with $1.1 billion in available funding
Expected Adjusted EBITDA of at least $1 billion for 2025
CEO transition plan ensuring strategic continuity

Challenges Ahead

Significant impairment charges impacting Q4 results
Declining revenue YoY in both Americas and International segments
Higher per-unit fleet costs compared to previous year
Uncertain macroeconomic conditions affecting travel industry
Potential competitive pressures impacting pricing and margins