Avis Budget Group Q3 2023 rev $3.6B, net income $627M, Adj EBITDA $907M; repurchased 2.2M shares

AVIS BUDGET GROUP, INC.

2023-Q3 EPS reported $34.71 revenue$9,244,000,000

Revenue $3.6B, rental days up 5% YoY; record volumes in the Americas.
Net income $627M; Adjusted EBITDA $907M (Americas $740M, International $196M).
Repurchased ~2.2M shares for $487M during Q3.
Issued €400M Senior Notes due 2030 to redeem €300M notes due Nov 2024; no near-term maturities until mid-2025.
Liquidity ~$1.0B plus $1.1B fleet funding capacity; October trend strong.

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 third quarter 2023 results: revenue $3.6 billion, net income $627 million.

Period: third quarter 2023
Revenue: $3.6 billion
Net income: $627 million
Result: reported results

Exact text from the filing

PARSIPPANY, N.J., November 1, 2023 - Avis Budget Group, Inc. ( NASDAQ: CAR ) announced financial results for third quarter 2023 today. We ended the quarter with revenues of $3.6 billion, driven by peak demand and seasonal revenue per day increases. Net income was $627 million and our Adjusted EBITDA 1 was $907 million. Our liquidity position at the end of the

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Source: SEC EDGAR

accession 0000723612-23-000051

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