Welcome to our dedicated page for Avis Budget news (Ticker: CAR), a resource for investors and traders seeking the latest updates and insights on Avis Budget stock.
Avis Budget Group, Inc. (CAR) delivers innovative mobility solutions through its Avis, Budget, and Zipcar brands worldwide. This news hub provides investors and industry observers with timely updates on corporate developments shaping the vehicle rental and car-sharing sectors.
Access official press releases, financial disclosures, and strategic announcements covering key operational areas. Track updates on fleet management innovations, partnership expansions, and market leadership initiatives across North America, Europe, and Australasia.
Our curated news collection enables informed analysis of the company's premium rental services (Avis), value-focused solutions (Budget), and urban mobility platforms (Zipcar). Discover updates on licensing agreements, technological advancements in digital booking systems, and sustainability efforts within the transportation sector.
Bookmark this page for centralized access to CAR's evolving position in the competitive mobility landscape. Monitor critical updates including quarterly earnings reports, leadership changes, and industry recognition that impact long-term strategic positioning.
Avis Budget Group (NASDAQ: CAR) has scheduled its first quarter 2025 financial results announcement for May 7th, 2025, after market close. The company will host a conference call for institutional investors on May 8th, 2025, at 8:30 a.m. Eastern time.
Investors can access the call through the company's investor relations website or by dialing (877)-407-2991. A web replay will be available on the IR website, and a telephone replay will be accessible from 12:30 p.m. Eastern time on May 8th until 10:00 p.m. on May 22nd using conference code 13752755.
Avis Budget Group (NASDAQ: CAR) reported Q4 2024 revenues of $2.7 billion and full-year revenues of $11.8 billion. The company posted a Q4 net loss of nearly $2 billion and an Adjusted EBITDA loss of $101 million. The full-year results showed a net loss of $1.8 billion with Adjusted EBITDA of $628 million.
The significant losses reflect a strategic decision to accelerate fleet rotations, resulting in a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million. The company's liquidity position stood at $1.1 billion, with an additional $2.8 billion in fleet funding capacity.
The company announced a leadership transition, with CEO Joe Ferraro stepping down on June 30, 2025, to be succeeded by Brian Choi, the current Chief Transformation Officer. The company projects Adjusted EBITDA of no less than $1 billion for 2025.
Avis Budget Group (NASDAQ: CAR) has announced it will release its fourth quarter 2024 financial results after market close on February 11th, 2025. The company will host a conference call for institutional investors to discuss these results on February 12th, 2025, at 8:30 a.m. Eastern time.
Investors can access the call through the company's investor relations website or by dialing (877)-407-2991. A web replay will be available on the company's IR website after the call, and a telephone replay will be accessible from 11:00 a.m. Eastern time on February 12th until 10:00 p.m. on February 26th using conference code 13751081.
Avis Budget Group reported Q3 2024 financial results with revenues of $3.5 billion, net income of $238 million, and Adjusted EBITDA of $503 million. The company maintained stable pricing with Americas nearly flat, while improving vehicle utilization by approximately 2 points. Adjusted EBITDA reached $384 million in Americas and $139 million in International, with the latter showing a 5% increase in rental days. The company issued $700 million in unsecured Senior Notes and repurchased about 526,000 shares for nearly $43 million. Quarter-end liquidity exceeded $1.2 billion, with an additional $3.2 billion in fleet funding capacity.
Avis Budget Group (NASDAQ: CAR) has scheduled its third quarter 2024 financial results announcement for October 31st, 2024, after market close. The company will host a conference call for institutional investors on November 1st, 2024, at 8:30 a.m. Eastern time. Investors can access the call through the company's investor relations website or by phone. A web replay will be available on the company's website, and a telephone replay will be accessible from November 1st until November 15th.
Avis Budget Group (NASDAQ: CAR) announced the pricing of a $700 million private offering of 8.250% senior notes due 2030, representing a $200 million increase from the initially announced size. The notes, to be issued by Avis Budget Car Rental, and Avis Budget Finance, Inc., will mature on January 15, 2030, and will be guaranteed by the Company and certain U.S. subsidiaries. The offering is expected to close on September 13, 2024.
The Company plans to use the net proceeds for general corporate purposes, including potential repayment of indebtedness such as its floating rate term loan C maturing in 2029 and outstanding fleet debt. The notes are being offered only to qualified institutional buyers and non-U.S. persons, and have not been registered under the Securities Act.
Avis Budget Group (NASDAQ: CAR) has announced its intention to offer $500 million in senior notes due 2030 through its subsidiaries, Avis Budget Car Rental, and Avis Budget Finance, Inc. The notes will be guaranteed on a senior unsecured basis by Avis Budget Group and certain U.S. subsidiaries. The company plans to use the net proceeds for general corporate purposes, including potential repayment of existing debt such as its floating rate term loan C maturing in 2029 and outstanding fleet debt. The offering is subject to market and other customary conditions and is to qualified institutional buyers and non-U.S. persons in compliance with SEC regulations.
Avis Budget Group (NASDAQ: CAR) reported its Q2 2024 financial results, with revenues exceeding $3.0 billion. The company saw a 2% increase in rental days compared to Q2 2023, with sequential improvements in revenue per day. Net income stood at $15 million, while Adjusted EBITDA reached $214 million. The Americas segment reported Adjusted EBITDA of $186 million, with a 1% increase in rental days. International operations contributed $48 million in Adjusted EBITDA, driven by improved vehicle utilization and a 5% increase in rental days. Vehicle utilization for the quarter was 70.2%, with June showing a one-point improvement compared to June 2023. The company's liquidity position at quarter-end was $822 million, with an additional $2.9 billion in fleet funding capacity.
Avis Budget Group (NASDAQ: CAR) will announce its Q2 2024 results after market close on August 5, 2024. The company will conduct a conference call to discuss these results on August 6, 2024, at 8:30 a.m. Eastern Time. Investors can access the call via the company's investor relations website or by dialing (877)-407-2991. A web replay will be available shortly after the call on the same website. Additionally, a telephone replay will be accessible from 11:00 a.m. Eastern Time on August 6 until 10:00 p.m. on August 19, 2024, at (877)-660-6853 using the conference code 13743682.
AVIS has announced a multi-year extension of its partnership with the PGA TOUR, PGA TOUR Champions, and Korn Ferry Tour, continuing through 2028. AVIS will remain the Official Rental Car Company for these events, providing vehicles for players, caddies, employees, and fans. The partnership, which began in 2011, will also feature the AVIS ‘Plan on Us’ campaign to engage fans during the FedExCup season. Additionally, AVIS has signed a two-year partnership with PGA TOUR winner and Olympic Gold Medalist Xander Schauffele, who will serve as a brand ambassador.
