Avis Budget Group (CAR) Misses Q1 EPS by $9.01, Misses on Revenue

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Avis Budget Group Reports First Quarter Results

May 7, 2025 4:00 PM EDT

PARSIPPANY, N.J., May 07, 2025 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced financial results for first quarter 2025 today.

We ended the quarter with revenues of $2.4 billion, net loss of $505 million, and an Adjusted EBITDA1 loss of $93 million.

During the first quarter, as anticipated, we recorded a non-cash fleet charge of $390 million related to the disposition of certain vehicles within the Americas. We do not expect further charges related to our accelerated fleet rotation strategy.

We made substantial progress on our fleet rotation strategy during... More