Avis Budget Group

Avis Budget Group, Inc. engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean. The International segment leases out vehicles in Europe, the Middle East, Africa, Asia, and Australasia. The company was founded by Warren E. Avis in 1946 and is headquartered in Parsippany, NJ.

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Avis Budget Group achieves record earnings, eyes M&A for growth

Avis Budget Group delivered exceptional financial performance, marked by record EBITDA, strong revenue generation, and effective cost control. While facing challenges such as seasonal RPD declines and automaker production impacts, the company remains agile and focused on customer experience, fleet optimization, and strategic growth initiatives.

Avis Budget Group achieves record Q1 revenue and EBITDA

Avis Budget Group's Q1 performance showcased robust revenue and earnings growth, driven by strong demand in commercial and international travel segments. The company's cautious approach to electric vehicles and strategic fleet actions underscore its commitment to sustainable growth and capital efficiency. With a focus on diverse market expansion and revenue optimization, Avis Budget Group is poised for continued success in the evolving travel landscape.

Avis Budget Group reports solid Q2 earnings amidst travel recovery

Avis Budget Group's Q2 2023 performance showed revenue growth and strong adjusted EBITDA. The company focused on fleet optimization and profitability, with a renewed marketing push for the Avis brand. Challenges include high depreciation and increased vehicle interest costs. Opportunities lie in strong cross-border and domestic travel demand.

Avis Budget Group posts record Q3 revenue, eyes EV opportunities

Avis Budget Group delivered strong financial performance in Q3 2023, driven by robust revenue and adjusted EBITDA figures.
While facing challenges in the International segment and pricing pressures, the company maintains a focus on cost discipline and margin preservation.
Opportunities lie in segment-specific pricing strategies, EV initiatives, and technology utilization for enhanced efficiencies.

Avis Budget Group posts robust earnings, eyes sustained growth in 2024

Avis Budget Group delivered strong financial performance in Q4 2023 and full-year 2023, managing inflationary pressures and achieving robust pricing strategies.
The company's focus on operational efficiency, data utilization, and fleet management contributed to market share gains and sustained demand strength.
While challenges like managing fleet depreciation and operational costs exist, opportunities in capital allocation, EV fleet expansion, and tax optimization are on the horizon.
Overall, Avis Budget Group anticipates continued strong demand, elevated prices, and efficiency improvements in 2024, positioning the company for growth and resilience.

Avis Budget Group reports Q1 revenue over $2.5B, faces fleet challenges

Avis Budget Group's Q1 performance reflects challenges from fleet right-sizing and interest rate impacts but also strengths in strong demand, liquidity position, and technology initiatives. The company is poised for success with opportunities in improved margins, new digital platforms, and international business enhancements.

Avis Budget Group excels in Q3 earnings, eyes growth opportunities

Avis Budget Group's Q3 performance showcases strong revenue and EBITDA figures, with a focus on fleet discipline and high-margin business. While facing pricing challenges, the company is optimistic about future growth opportunities through operational efficiencies and enhanced customer experience.

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Avis Budget Group, Inc. engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean. The International segment is involved in the vehicle rental and car sharing operations in Europe, the Middle East, Africa, Asia, and Australasia. The company was founded in 1946 and is headquartered in Parsippany, NJ.

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Avis Budget Group's (CAR) CEO Joe Ferraro on Q1 2020 Results - Earnings Call Transcript

Avis Budget Group Inc. CAR, -1.07% announced the pricing of a debt offering, which that was upsized by 20% to $500 million, a day after the company reported first-quarter results that beat expectations.

Avis prices upsized 10.5% debt offering at 97% of face value

PARSIPPANY, N.J., May  05, 2020  (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., priced an offering of $500 million aggregate principal amount of 10.500% senior secured notes due 2025 in a private offering, which represents a $100 million increase in the previously announced size of the offering. The notes will have a maturity date of May 15, 2025. The closing of the offering of the notes is expected to occur on or about May 12, 2020, subject to customary closing conditions. The notes were priced at 97% of their face value and will be guaranteed by Avis Budget Group, Inc. and certain of its U.S. subsidiaries.

Avis Budget Group Announces Pricing of $500 Million of Senior Secured Notes

Avis Budget Group Inc. (NASDAQ: CAR) on Monday reported total revenue of $1.8 billion in its first quarter, down 9% from the same quarter a year ago.

Avis Budget Group Reports Mixed Q1 Earnings As Pandemic Hits Car Rental Business

Shares of Avis Budget Group Inc. CAR, +0.50% fell more than 4% in the extended session Monday after the car-rental company reported a narrower-than-expected adjusted first-quarter loss but said it expects April and May revenue to be 80% lower as the shutdowns due to the coronavirus pandemic continue to crimp leisure and business car renting.

Avis Budget sees 80% revenue drop for April, May

Avis Budget Group Inc. CAR, -15.65% said Monday it is planning to offer $400 million of senior secured notes that mature in 2025 in a private offering.

Avis Budget to offer $400 million in bonds

PARSIPPANY, N.J., May  04, 2020  (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., intend, subject to market and other customary conditions, to offer $400 million aggregate principal amount of senior secured notes due 2025 in a private offering. The notes will be guaranteed by Avis Budget Group, Inc. and certain of its U.S. subsidiaries.

Avis Budget Group Announces Intention to Offer $400 Million of Senior Secured Notes

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PARSIPPANY, N.J., April  27, 2020  (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced that the Company has obtained a waiver of the leverage covenant included in its existing senior credit facilities, comprised of a term loan and revolving credit facility, until June 30, 2021. The waiver is included in an amendment to the credit facilities, which allows the Company to incur an additional $750 million of first lien debt.

Avis Budget Group Announces Leverage Covenant Waiver Under Existing Credit Facility

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Shares of Avis Budget Group Inc. CAR, -4.98% rose more than 7% in the extended session Wednesday after the rental-car company said it expects first-quarter sales modestly below consensus, thanks to a busy January and February.

News for Avis Budget Group Stock (CAR)