---
schema_version: "secwatch.filing_event.v1"
accession: "0000723612-25-000053"
form_type: "8-K"
ticker: "CAR"
cik: "0000723612"
company_name: "AVIS BUDGET GROUP, INC."
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T09:46:49.596340+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Avis Budget Q1 net loss $505M on $2.4B revenue; records $390M fleet charge, no further charges expected

## Summary
- Q1 revenue $2.4B; net loss $505M; Adjusted EBITDA loss $93M; includes $390M non-cash fleet charge for Americas vehicle dispositions.
- Americas Adjusted EBITDA loss $67M; International loss $3M, improved from $15M loss in prior year.
- Issued $500M floating-rate term loan due Dec 2025; increased fleet funding capacity by $640M in April.
- Liquidity over $1.1B with $3B additional fleet funding; management says no further fleet charges expected.

## SEC filing metadata
- accession: 0000723612-25-000053
- form_type: 8-K
- ticker: CAR
- cik: 0000723612
- company_name: AVIS BUDGET GROUP, INC.
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723612/000072361225000053/0000723612-25-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723612/000072361225000053/car-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000723612-25-000053
- JSON: https://secwatch.observer/filing/0000723612-25-000053.json
- Plain text: https://secwatch.observer/filing/0000723612-25-000053.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.