Avis Budget Group (CAR) Q1 Revenue Tops Consensus

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Go back to Avis Budget Group (CAR) Q1 Revenue Tops Consensus

Avis Budget Group Reports First Quarter Results

May 1, 2023 4:01 PM EDT

PARSIPPANY, N.J., May 01, 2023 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced financial results for first quarter 2023 today.

We ended the quarter with revenues 5% above the first quarter 2022, at $2.6 billion, driven by strong demand and revenue per day in-line with prior year.

Net income was $312 million and our Adjusted EBITDA1 was $535 million. Utilization was up a point compared to first quarter 2022, at 68.4%, as our fleet continues to be well positioned to meet growing demand.

Our liquidity position at the end of the quarter was approximately... More