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.

Avis Budget Group Inc. CAR, -1.50% said Thursday that Chief Financial Officer John North will step down from the position "to pursue other interests," after 18 months in the role.

Avis Budget's CFO John North to step down after 18 months in the role

PARSIPPANY, N.J., Aug.  13, 2020  (GLOBE NEWSWIRE) -- Avis Budget Group, Inc.  (NASDAQ: CAR)  today announced that John F. North III will transition from Chief Financial Officer to pursue other interests. Brian Choi will assume the role of Chief Financial Officer on August 24, 2020. As part of the transition, Mr. Choi will resign from the Avis Budget Group Board of Directors and will also no longer have any affiliation with SRS Investment Management. Mr. North will remain with Avis Budget Group as an advisor through the end of the year to help facilitate a smooth transition.

Avis Budget Group Announces Chief Financial Officer Transition

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A recent rally in transportation stocks has Avis almost back to positive territory for the year.

Why Avis Popped 13% Early Tuesday

A Relative Strength Rating upgrade for Avis Budget shows improving technical performance.

Avis Budget Earns Relative Strength Rating Upgrade

Decline in rental days and revenue per day hurts Avis Budget's (CAR) June-end financials.

Avis Budget (CAR) Q2 Loss Wider-Than-Expected, Sales Miss

PARSIPPANY, N.J., Aug.  04, 2020  (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 an offering of $350 million aggregate principal amount of 5.75% senior notes due 2027 (the “Notes”) in a private offering. The Notes will be issued as additional notes under the Indenture, dated as of July 3, 2019, pursuant to which the Issuers previously issued $400 million aggregate principal amount of 5.75% Senior Notes due 2027. The Notes will have a maturity date of July 15, 2027. The closing of the offering of the Notes is expected to occur on August 6, 2020, subject to customary closing conditions. The Notes were priced at 92% of their face value and will be guaranteed on a senior unsecured basis by Avis Budget Group, Inc. and certain of its U.S. subsidiaries.

Avis Budget Group Announces Pricing of $350 Million of Senior Notes

Avis Budget Group Inc. CAR, -2.41% announced Monday that it plans to offer $350 million in senior notes due 2027.

Avis Budget plans 5.75%, $350 million senior notes offering

There's a silver lining for investors digging into Avis's second-quarter results.

Why Avis Is Not the Next Hertz

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Avis Budget Group, Inc. (CAR) CEO Joe Ferraro on Q2 2020 Results - Earnings Call Transcript

Top- and bottom-line results plunged, but cash burn checked in well ahead of estimates.

Avis Rises 11% as Second Quarter Is Both Abysmal and Impressive

Avis Budget (CAR) delivered earnings and revenue surprises of -0.36% and -8.29%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?

Avis Budget Group (CAR) Reports Q2 Loss, Lags Revenue Estimates

Shares of Avis Budget Group Inc. CAR, -3.56% rallied nearly 10% in the extended session Tuesday after the car-rental company said it capitalized on the recovering used-car market to sell more vehicles than planned, shrinking its fleet to match demand dented by the coronavirus pandemic, and that it saw more people renting cars for leisure in recent weeks.

Avis stock jumps more than 10% as company says rental-car market improved

Shares of Avis Budget Gr (NASDAQ:CAR) rose 9.13% in after-market trading after the company reported Q2 results.

Recap: Avis Budget Gr Q2 Earnings

PARSIPPANY, N.J., July  28, 2020  (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced second quarter 2020 financial results, with a Net loss of $481 million and an Adjusted net loss of $388 million. Total Revenues were down 67% year-over-year.

Avis Budget Group Removes over $1 Billion in Expenses in Second Quarter to Mitigate Impacts of COVID-19

Avis Budget Group: Enter Now To Capture Gains Over A Medium-Term Horizon

Avis Budget To Benefit From Increased Private Car Travel

Avis Budget (CAR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Avis Budget Group (CAR) Q2 Earnings Expected to Decline

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Conference Call to Discuss Results Scheduled for July 29th, 2020 Conference Call to Discuss Results Scheduled for July 29th, 2020

Avis Budget Group to Announce Second Quarter 2020 Results on July 28th

As of late, it has definitely been a great time to be an investor in Avis Budget Group, Inc. (CAR).

Avis Budget Group, Inc. (CAR) Shares March Higher, Can It Continue?

PARSIPPANY, N.J., July  09, 2020  (GLOBE NEWSWIRE) -- Avis Budget Group (ABG) today announced the launch of an exciting and forward thinking coalition designed to enhance the cleanliness and disinfection of its rental facilities and vehicles. Along with ABG, the coalition includes RB, which is the maker of Lysol, and a team of medical professionals from leading institutions, including Columbia University, with expertise in public health, COVID-19, and other infectious diseases. The coalition is also joined by Hip Hop Public Health, which is a national nonprofit organization dedicated to fostering positive behavior change.

Avis Budget Group to Deliver Avis Safety Pledge and Budget Worry-Free Promise Through  Agreements With Lysol, Hip Hop Public Health and Renowned Group of Medical Professionals

News for Avis Budget Group Stock (CAR)