Avis Budget Group Reports Third Quarter Results
Avis Budget Group, Inc. (CAR)
Last avis budget group, inc. earnings: 2/19 04:00 pm
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ir.avisbudgetgroup.com
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Source: GlobeNewswire
PARSIPPANY, N.J., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced financial results for third quarter 2024 today. We ended the quarter with revenues of nearly $3.5 billion, net income of $238 million, and Adjusted EBITDA1 of $503 million. “We maintained a strong focus on pricing throughout the quarter, prioritizing higher margin business which allowed us to keep our revenue per day stable with the Americas nearly flat,” said Joe Ferraro, Avis Budget Group Chief Executive Officer. “Vehicle utilization improved by approximately 2 points throughout the Company as we exercised strong fleet discipline. Our U.S. model year 2025 buy is well underway and expected to drive significant savings as these vehicles are rotated into our fleet. Lastly, the holidays look strong, and we believe we are well positioned to capitalize on this demand.” Q3 HIGHLIGHTS Revenues of nearly $3.5 billion with pricing down 2% and rental days in line with third quarter
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