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 (CAR) reported strong financial results for Q4 2021 and full-year 2021, with Q4 revenues reaching $2.6 billion, up 90% year-over-year and 19% compared to Q4 2019. Net income was $381 million, while Adjusted EBITDA hit a record $683 million for the quarter. Full-year revenues increased 72% to $9.3 billion, with net income at $1.3 billion. The company's liquidity stood at $757 million, with $2.6 billion fleet funding capacity. CEO Joe Ferraro emphasized significant demand and cost discipline despite Omicron's impact.
Avis Budget Group (NASDAQ: CAR) will announce its Q4 2021 results after market close on February 14, 2022. Following the report, a conference call for institutional investors is scheduled for February 15, 2022, at 8:30 a.m. Eastern time. Investors can access the call via ir.avisbudgetgroup.com or by calling (877)-407-2991. A web replay will be available post-call, and a telephone replay will be accessible from February 15 to March 1, 2022 using conference code 13726207. For more information, contact David Calabria at IR@avisbudget.com.
Avis Budget Group reported strong third quarter 2021 results, with revenues reaching $3 billion, a 96% increase from the previous year and 9% higher than Q3 2019. Net income was $674 million, while Adjusted EBITDA soared to a record $1,057 million. Fleet utilization improved to 71.6%, signaling effective demand management. The company maintained a robust liquidity position of $1.3 billion and $2.7 billion in fleet funding capacity, with manageable corporate debt maturities until 2024. The results reflect successful cost discipline and operational execution stemming from pandemic initiatives.
Avis Budget Group (NASDAQ: CAR) plans to report its Q3 2021 results after market close on November 1, 2021. A conference call for institutional investors will be held on November 2, 2021 at 8:30 a.m. ET to discuss these results. Investors can access the call by dialing (877)-407-2991 or visiting ir.avisbudgetgroup.com. The company operates over 10,000 rental locations worldwide and includes brands like Avis, Budget, and Zipcar, headquartered in Parsippany, N.J.
Avis Budget Group (NASDAQ: CAR) reported robust Q2 2021 financial results, with revenues of $2.4 billion, up 212% from Q2 2020 and 1% above Q2 2019. Net income reached $398 million, while Adjusted EBITDA soared to $624 million, marking a record in the company's 75-year history. Fleet utilization improved to 71.3%, indicating strong demand recovery. The company maintains a healthy liquidity position of $1.8 billion and an additional $3.4 billion in funding capacity, with no significant debt maturities until 2024.
Avis Budget Group plans to release its second quarter 2021 results on August 3, 2021, after market close. A conference call for institutional investors will be held on August 4, 2021, at 8:30 a.m. Eastern time. Investors can join the call via ir.avisbudgetgroup.com or by calling (877)-407-2991. A replay of the call will be available on the website and via telephone until August 18, 2021. Avis Budget Group operates over 10,000 rental locations globally and includes the Zipcar brand.
Avis Budget Group (NASDAQ: CAR) reported Q1 2021 results with a 22% revenue decline year-over-year, resulting in a net loss of $170 million. However, the company achieved an Adjusted EBITDA of $47 million, marking its best performance in Q1 since 2015 and the third consecutive quarter of positive Adjusted EBITDA since the pandemic began. The Americas saw a 12% increase in Revenue per Day and record Adjusted EBITDA margins. Liquidity at quarter-end was approximately $1.2 billion, with $4.8 billion in fleet funding capacity. The company faces uncertainty due to a global semiconductor shortage impacting fleet supply.
Zipcar is expanding its partnership with the City of Philadelphia by adding nearly 50 vehicles to on-street parking spots, enhancing access to car-sharing services since 2007. This initiative supports Philadelphia's Transit Plan aimed at reducing personal vehicle reliance and promoting sustainable transport. Notably, 81% of Zipcar members in Philadelphia do not own a car, saving an average of $633 monthly compared to traditional car ownership. The move aligns with the city’s goal to improve mobility and decrease congestion.
Avis Budget Group (NASDAQ: CAR) plans to release its Q1 2021 results post-market on May 3rd, 2021. A conference call to discuss these results will be held on May 4th, 2021, at 8:30 a.m. Eastern time. Investors can participate via ir.avisbudgetgroup.com or by calling (877)-407-2991.
The company operates globally with over 10,000 rental locations and is a leader in mobility solutions through its Avis, Budget, and Zipcar brands.
Avis Budget Group announced a $500 million offering of 4.75% senior notes due 2028, increasing from a previously planned $350 million. The offering is set to close on March 23, 2021. Proceeds will be used to redeem 6.375% senior notes due 2024 and 5.250% senior notes due 2025, along with covering related expenses. The notes are available only to qualified institutional buyers under Rule 144A and are not registered under the Securities Act. Avis Budget Group is a global provider of mobility solutions with over 10,000 rental locations worldwide.
