Avis Budget Q1 net loss $113M on $2.6B revenue; Adjusted EBITDA $12M

AVIS BUDGET GROUP, INC.

2024-Q1 EPS reported -$3.21 revenue$2,551,000,000

Net loss of $113 million; Adjusted EBITDA of $12 million on revenue of $2.6 billion.
Americas segment Adjusted EBITDA $44 million; International loss $15 million.
Rental days up 5% YoY; record vehicle disposals to align fleet size.
Issued €600M senior notes due 2029, repaid €350M notes due 2026.
Liquidity $0.7B plus $3.8B fleet funding capacity; no maturities until 2027 after April repayment.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AVIS BUDGET GROUP, INC. reported first quarter 2024 results: revenue $2.6 billion, net income $113 million.

Period: first quarter 2024
Revenue: $2.6 billion
Net income: $113 million
Result: reported results

Exact text from the filing

Results PARSIPPANY, N.J., May 1, 2024 - Avis Budget Group, Inc. ( NASDAQ: CAR ) announced financial results for first quarter 2024 today. We ended the quarter with revenues of $2.6 billion, driven by strong travel demand. Net loss was $113 million and our Adjusted EBITDA 1 was $12 million. Our liquidity position at the end of the quarter was approximately $0.7

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Source: SEC EDGAR

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