Avis Budget Group (CAR) Tops Q3 EPS by $2.54

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Go back to Avis Budget Group (CAR) Tops Q3 EPS by $2.54

Avis Budget Group Reports Third Quarter Results

November 1, 2023 4:06 PM EDT

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

We ended the quarter with revenues of $3.6 billion, driven by peak demand and seasonal revenue per day increases. Net income was $627 million and our Adjusted EBITDA1 was $907 million.

Our liquidity position at the end of the quarter was approximately $1.0 billion, with an additional $1.1 billion of fleet funding capacity. We have well-laddered corporate debt with no meaningful maturities until mid-2025.

We had record volume in the Americas with anticipated... More