Avis Budget Q1 revenue $2.6B record; Adjusted EBITDA $535M, net income $312M

AVIS BUDGET GROUP, INC.

2023-Q1 EPS reported $7.72 revenue$2,557,000,000

Revenue $2.6B, up 5% YoY, a first-quarter record; revenue per day in-line with prior year.
Net income $312M; Adjusted EBITDA $535M (Americas $516M, International $50M, a Q1 record).
Utilization 68.4%, up 1 point YoY; most rental transactions in Q1 history.
Liquidity ~$1.4B plus $2.3B fleet funding capacity; no material debt maturities until late 2024.
CEO highlights strong demand from international inbound and commercial customers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AVIS BUDGET GROUP, INC. reported first quarter 2023 results: revenue $2.6 billion, net income $312 million.

Period: first quarter 2023
Revenue: $2.6 billion
Net income: $312 million
Result: reported results

Exact text from the filing

2023 - Avis Budget Group, Inc. ( NASDAQ: CAR ) announced financial results for first quarter 2023 today. We ended the quarter with revenues 5% above the first quarter 2022, at $2.6 billion, driven by strong demand and revenue per day in-line with prior year. Net income was $312 million and our Adjusted EBITDA 1 was $535 million. Utilization was up a point compared

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Source: SEC EDGAR

accession 0000723612-23-000032

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