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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In the latest trading session, Avis Budget Group (CAR) closed at $122.46, marking a -0.62% move from the previous day.

Avis Budget Group (CAR) Stock Slides as Market Rises: Facts to Know Before You Trade

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Avis Budget (CAR) Is Considered a Good Investment by Brokers: Is That True?

In the closing of the recent trading day, Avis Budget Group (CAR) stood at $113.47, denoting a -1.54% change from the preceding trading day.

Why Avis Budget Group (CAR) Dipped More Than Broader Market Today

Recently, Zacks.com users have been paying close attention to Avis Budget (CAR). This makes it worthwhile to examine what the stock has in store.

Avis Budget Group, Inc. (CAR) Is a Trending Stock: Facts to Know Before Betting on It

In the latest trading session, Avis Budget Group (CAR) closed at $108.12, marking a +0.39% move from the previous day.

Avis Budget Group (CAR) Rises But Trails Market: What Investors Should Know

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Avis Budget Group (CAR) closed at $113.11 in the latest trading session, marking a +1.21% move from the prior day.

Avis Budget Group (CAR) Beats Stock Market Upswing: What Investors Need to Know

Avis Budget (CAR) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

Investors Heavily Search Avis Budget Group, Inc. (CAR): Here is What You Need to Know

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Here is What to Know Beyond Why Avis Budget Group, Inc. (CAR) is a Trending Stock

PARSIPPANY, N.J., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiary, Avis Budget Finance plc (the “Issuer”), priced a private offering of €600 million aggregate principal amount of 7.00% senior notes due 2029 (the “Notes”), which represents a €200 million increase from the previously announced size of the offering. The Notes will have a maturity date of February 28, 2029. The closing of the offering of the Notes is expected to occur on February 28, 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 €600 Million of Senior Notes

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CAR, CHX and CWST have been added to the Zacks Rank #5 (Strong Sell) List on February 21, 2024.

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PARSIPPANY, N.J., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiary, Avis Budget Finance plc (the “Issuer”), intends, subject to market and other customary conditions, to offer €400 million aggregate principal amount of senior notes due 2029 (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 €400 Million of Senior Notes

Avis Budget's (CAR) earnings and revenues were down year over year in the fourth quarter of 2023.

Avis Budget (CAR) Stock Loses 6.7% Despite Q4 Earnings Beat

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Hertz Global Holdings Inc.'s stock tumbled 12% Tuesday to put it on track for a record-low close, pulled down by bad news from its smaller rival, Avis Budget Group Inc.

Hertz's stock headed for fresh closing low after being caught in downdraft created by Avis

Avis Budget Group Inc. investors were having their worst day in four years on Tuesday, after the car-rental company said it sold a record number of vehicles during the fourth quarter in a bad market for used cars, due to vehicle oversupply and a spike in interest costs.

Avis's stock drops after company sells record number of cars into a tough used-car market

Avis Budget Group, Inc. (CAR) Q4 2023 Earnings Call Transcript

While the top- and bottom-line numbers for Avis Budget (CAR) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Avis Budget (CAR) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Avis Budget Group (CAR) came out with quarterly earnings of $7.10 per share, beating the Zacks Consensus Estimate of $4.36 per share. This compares to earnings of $10.46 per share a year ago.

Avis Budget Group (CAR) Q4 Earnings Surpass Estimates

Avis Budget Group Inc (NASDAQ: CAR) is trading down in extended hours even though it reported it better-than-expected financial results for its fiscal fourth quarter. Why is Avis Budget stock down in after-hours?

News for Avis Budget Group Stock (CAR)