Avis Budget Group (CAR) Tops Q1 EPS by $1.68
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Avis Budget Group Capitalizes on Continued Economic Recovery
May 3, 2021 4:01 PM EDTPARSIPPANY, N.J., May 03, 2021 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced first quarter 2021 financial results.
Despite revenue being down 22% for the first quarter compared to prior year, and net loss of $170 million, we achieved Adjusted EBITDA of $47 million in the first quarter through cost discipline and double digit growth in revenue per day in the Americas. This is our best first quarter Adjusted EBITDA since 2015 and is now our third consecutive quarter of positive Adjusted EBITDA since the start of the pandemic.
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