Avis Budget posts record FY2022 revenue $12.0B, net income $2.8B; board adds $1B buyback

AVIS BUDGET GROUP, INC.

2022-FY EPS reported $57.16 revenue$11,994,000,000

Q4 revenue $2.8B (+8% YoY); net income $424M; Adjusted EBITDA $658M; utilization 67.0%.
Full-year revenue $12.0B (+29% YoY, record); net income $2.8B; Adjusted EBITDA $4.1B (records).
Americas segment FY Adj. EBITDA $3.7B; International $560M (both all-time highs).
Board approved $1.0B increase to share repurchase authorization; total remaining ~$1.7B.
Liquidity $1.6B plus $1.9B fleet funding capacity; no debt maturities until 2024.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AVIS BUDGET GROUP, INC. reported full year ended December 31, 2022 results: revenue $12.0 billion, net income $2.8 billion.

Period: full year ended December 31, 2022
Revenue: $12.0 billion
Net income: $2.8 billion
Result: reported results

Exact text from the filing

was 67.0%, showing that our fleet continues to be well positioned to meet demand. Full year revenues increased 29% compared to the prior year and 31% compared to 2019, at $12.0 billion. Net income was $2.8 billion and Adjusted EBITDA was $4.1 billion, both full year records for the Company. Our liquidity position at the end of the quarter was approximately $1.6

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AVIS BUDGET GROUP, INC. reported fourth quarter ended December 31, 2022 results: revenue $2.8 billion, net income $424 million.

Period: fourth quarter ended December 31, 2022
Revenue: $2.8 billion
Net income: $424 million
Result: reported results

Exact text from the filing

financial results for fourth quarter and full year ended December 31, 2022. We ended 2022 with fourth quarter revenues 8% above prior year and 28% above fourth quarter 2019, at $2.8 billion. Our revenues were driven by increased revenue per day and strong demand from both our commercial business and leisure holiday travel. Net income was $424 million and Adjusted

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Source: SEC EDGAR

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