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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CAR's third-quarter 2024 top line witnesses a decline due to a fall in revenues from the Americas.

Avis Budget Stock Appreciates 12% Despite Earnings Miss in Q3

Canadian Apartment Properties Real Estate Investment Trust (OTC:CDPYF) Q3 2024 Earnings Conference Call November 8, 2024 9:00 AM ET Company Participants Nicole Dolan - IR Mark Kenney - President and CEO Julian Schonfeldt - CIO Stephen Co - CFO Conference Call Participants Fred Blondeau - Green Street Dean Wilkinson - CIBC Jonathan Kelcher - TD Cowen Brad Sturges - Raymond James Jimmy Shan - RBC Capital Markets Kyle Stanley - Desjardins Mario Saric - Scotiabank Matt Kornack - National Bank Financial Michael Markidis - BMO Capital Markets Operator Good morning and thank you for attending today's Canadian Apartment Properties RIET Third Quarter 2024 Results Conference Call. My name is Alisa, and I'll be your moderator today's.

Canadian Apartment Properties Real Estate Investment Trust (CDPYF) Q3 2024 Earnings Call Transcript

Avis Budget didn't grow earnings in 2024, but 2025 looks better.

Why Avis Budget Stock Soared 17% After Earnings

Avis Budget Group, Inc. (NASDAQ:CAR ) Q3 2024 Earnings Conference Call November 1, 2024 8:30 AM ET Company Participants David Calabria - SVP, Corporate Finance and Treasurer Joe Ferraro - President and CEO Izzy Martins - EVP and CFO Conference Call Participants Chris Woronka - Deutsche Bank John Babcock - Bank of America Elizabeth Dove - Goldman Sachs Ryan Brinkman - J.P. Morgan Chase Christopher Stathoulopoulos - Susquehanna Financial John Healy - Northcoast Research Dan Levy - Barclays Bank Operator Greetings and welcome to the Avis Budget Group Third Quarter 2024 Earnings Conference Call.

Avis Budget Group, Inc. (CAR) Q3 2024 Earnings Call Transcript

The headline numbers for Avis Budget (CAR) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Avis Budget (CAR) Q3 Earnings: A Look at Key Metrics

Avis Budget Group (CAR) came out with quarterly earnings of $6.65 per share, missing the Zacks Consensus Estimate of $8.55 per share. This compares to earnings of $16.78 per share a year ago.

Avis Budget Group (CAR) Q3 Earnings and Revenues Miss Estimates

Avis Budget Group's stock was falling in after-hours trade Thursday, after the car-rental company's third-quarter earnings fell short of estimates.

Avis's stock slides after third-quarter earnings fall short of estimates

PARSIPPANY, N.J., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced financial results for third quarter 2024 today.

Avis Budget Group Reports Third Quarter Results

PARSIPPANY, N.J., Oct. 25, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced today that it plans to report its third quarter 2024 results after the market close on Thursday, October 31st, 2024, and to host a conference call for institutional investors to discuss these results on Friday, November 1st, 2024 at 8:30 a.m.

Avis Budget Group to Announce Third Quarter 2024 Results on October 31st

Dublin, Oct. 21, 2024 (GLOBE NEWSWIRE) -- The "Spain Car Rental - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering. The Spain Car Rental Market size is estimated at USD 5.95 billion in 2024, and is expected to reach USD 7.47 billion by 2029, growing at a CAGR of 10.13% during the forecast period (2024-2029). Over the long term, the rising number of tourists in the country and the increasing car rental fleet size are driving the car rental market in Spain. The country has 47 UNESCO World Heritage Sites, numerous beaches on the Atlantic & Mediterranean, and many ongoing festivals across the year, which aid in gathering millions of international tourists, along with domestic tourists. In June 2022, the Spanish government's announcement of EUR 110 million investment in tourism competitiveness indirectly benefited the car rental market by attracting more potential investors. People's attitudes toward traveling light are changing, and they prefer renting a car to owning one, especially when traveling. This social mindset shift has contributed to an unusually high demand for rented cars. Spain is no longer a destination for visitors who arrive by car. Tourists are looking for car rentals for their vacations. As a result, the country is experiencing a car rental crisis. The electric rental fleets in the country are also expected to grow in the coming years, encouraging the rental services offered across the country to attract customers and curb greenhouse emissions. Some of the prominent players in the Spanish airport car rental market are Europcar Mobility Group, Hertz Corporation, and Avis Budget Group. However, tourist travel behavior and vacation expectations have been reset following the pandemic. Following three years of revenue decline (due to the pandemic), the car rental industry is expected to see an increase and a healthy profit. Spain Car Rental Market Trends

Spain Car Rental Market Trends, Analysis, and Opportunity Forecast (2024-2029) Featuring Profiles of Key Players - Centauro Rent a Car, Rentspain, GoldCar Spain, Avis Car Rental, Budget Rent a Car System & More

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PARSIPPANY, N.J., Sept. 10, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”), priced a private offering of $700 million aggregate principal amount of 8.250% senior notes due 2030 (the “Notes”), which represents a $200 million increase from the previously announced size of the offering. The Notes will have a maturity date of January 15, 2030. The closing of the offering of the Notes is expected to occur on September 13, 2024, subject to customary closing conditions. The Notes will be issued at par and guaranteed on a senior unsecured basis by the Company and certain of its U.S. subsidiaries.

Avis Budget Group Announces Pricing of $700 Million of Senior Notes

NEWTOWN, Pa., Sept. 10, 2024 (GLOBE NEWSWIRE) -- The law firm of Edelson Lechtzin LLP is investigating claims regarding data privacy violations by Avis Rent A Car System LLC (“Avis”). Avis learned of suspicious activity on or about August 5, 2024. To join this case, go HERE .

DATA BREACH ALERT: Edelson Lechtzin LLP Is Investigating Claims On Behalf Of Avis Rent A Car System LLC Customers Whose Data May Have Been Compromised

PARSIPPANY, N.J., Sept. 10, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”), intend, subject to market and other customary conditions, to offer $500 million aggregate principal amount of senior notes due 2030 (the “Notes”) in a private offering. The Notes will be guaranteed on a senior unsecured basis by Avis Budget Group, Inc. and certain of its U.S. subsidiaries.

Avis Budget Group Announces Intention to Offer $500 Million of Senior Notes

Edelson Lechtzin LLP is investigating claims regarding data privacy violations by Avis Rent A Car System LLC ("Avis"). Avis learned of suspicious activity on or about August 5, 2024.

DATA BREACH ALERT: Edelson Lechtzin LLP Is Investigating Claims On Behalf Of Avis Rent A Car System LLC Customers Whose Data May Have Been Compromised.

OKLAHOMA CITY, Okla., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Murphy Law Firm is investigating claims on behalf of all individuals whose personal and confidential information was compromised in the data breach involving Avis Rent A Car (“Avis”).

Avis Rent A Car Data Breach Exposes Personal Information: Murphy Law Firm Investigates Legal Claims

Car rental giant Avis is notifying hundreds of thousands of people that their personal information and driver's license numbers were stolen in an August cyberattack.

Thousands of Avis car rental customers had personal data stolen in cyberattack

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Canadian Apartment Properties Real Estate Investment Trust (OTC:CDPYF) Q2 2024 Earnings Conference Call August 8, 2024 9:00 AM ET Company Participants Nicole Dolan - Investor Relations Mark Kenney - President and Chief Executive Officer Julian Schonfeldt - Chief Investment Officer Stephen Co - Chief Financial Officer Conference Call Participants Fred Blondeau - Green Street Jonathan Kelcher - TD Cowen Mario Saric - Scotiabank Kyle Stanley - Jarden Jimmy Shan - RBC Matt Kornack - National Bank Sairam Srinivas - Cormark Securities Dean Wilkerson - CIBC Operator Good morning. Thank you for attending today's Canadian Apartment Properties Second Quarter 2024 Results Conference Call.

Canadian Apartment Properties Real Estate Investment Trust (CDPYF) Q2 2024 Earnings Call Transcript

Avis Budget Group's (CAR) second-quarter 2024 earnings and revenues decrease on a year-over-year basis.

Avis Budget (CAR) Stock Gains 6% Since Q2 Earnings Miss

Avis Budget Group, Inc. (NASDAQ:CAR ) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET Company Participants David Calabria - Senior Vice President, Corporate Finance and Treasurer Joseph Ferraro - President and Chief Executive Officer Izzy Martins - Executive Vice President and Chief Financial Officer Conference Call Participants Chris Woronka - Deutsche Bank Ryan Brinkman - JPMorgan John Babcock - Bank of America Lizzie Dove - Goldman Sachs Stephanie Moore - Jefferies Operator Greetings. Welcome to the Avis Budget Group Second Quarter 2024 Earnings Conference Call.

Avis Budget Group, Inc. (CAR) Q2 2024 Earnings Call Transcript

The headline numbers for Avis Budget (CAR) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

News for Avis Budget Group Stock (CAR)