Avis Budget Group (CAR) Tops Q4 EPS by 93c
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Avis Budget Group Reports Record Revenues, Net Income and Adjusted EBITDA
February 14, 2022 4:05 PM ESTPARSIPPANY, N.J., Feb. 14, 2022 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced financial results for fourth quarter and full year ended December 31, 2021.
We ended 2021 with fourth quarter revenues 90% above prior year and 19% above fourth quarter of 2019, at $2.6 billion. Our revenues were driven by increased revenue per day and rental days as demand continued from the third quarter. Net income was $381 million and Adjusted EBITDA was $683 million, our best fourth quarter Adjusted EBITDA in Company history. Utilization for the quarter was 68.2%, showing that our fleet was well positioned to meet demand.
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