Avis Budget Group

Avis Budget Group, Inc. engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean. The International segment leases out vehicles in Europe, the Middle East, Africa, Asia, and Australasia. The company was founded by Warren E. Avis in 1946 and is headquartered in Parsippany, NJ.

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Avis Budget Group achieves record earnings, eyes M&A for growth

Avis Budget Group delivered exceptional financial performance, marked by record EBITDA, strong revenue generation, and effective cost control. While facing challenges such as seasonal RPD declines and automaker production impacts, the company remains agile and focused on customer experience, fleet optimization, and strategic growth initiatives.

Avis Budget Group achieves record Q1 revenue and EBITDA

Avis Budget Group's Q1 performance showcased robust revenue and earnings growth, driven by strong demand in commercial and international travel segments. The company's cautious approach to electric vehicles and strategic fleet actions underscore its commitment to sustainable growth and capital efficiency. With a focus on diverse market expansion and revenue optimization, Avis Budget Group is poised for continued success in the evolving travel landscape.

Avis Budget Group reports solid Q2 earnings amidst travel recovery

Avis Budget Group's Q2 2023 performance showed revenue growth and strong adjusted EBITDA. The company focused on fleet optimization and profitability, with a renewed marketing push for the Avis brand. Challenges include high depreciation and increased vehicle interest costs. Opportunities lie in strong cross-border and domestic travel demand.

Avis Budget Group posts record Q3 revenue, eyes EV opportunities

Avis Budget Group delivered strong financial performance in Q3 2023, driven by robust revenue and adjusted EBITDA figures.
While facing challenges in the International segment and pricing pressures, the company maintains a focus on cost discipline and margin preservation.
Opportunities lie in segment-specific pricing strategies, EV initiatives, and technology utilization for enhanced efficiencies.

Avis Budget Group posts robust earnings, eyes sustained growth in 2024

Avis Budget Group delivered strong financial performance in Q4 2023 and full-year 2023, managing inflationary pressures and achieving robust pricing strategies.
The company's focus on operational efficiency, data utilization, and fleet management contributed to market share gains and sustained demand strength.
While challenges like managing fleet depreciation and operational costs exist, opportunities in capital allocation, EV fleet expansion, and tax optimization are on the horizon.
Overall, Avis Budget Group anticipates continued strong demand, elevated prices, and efficiency improvements in 2024, positioning the company for growth and resilience.

Avis Budget Group reports Q1 revenue over $2.5B, faces fleet challenges

Avis Budget Group's Q1 performance reflects challenges from fleet right-sizing and interest rate impacts but also strengths in strong demand, liquidity position, and technology initiatives. The company is poised for success with opportunities in improved margins, new digital platforms, and international business enhancements.

Avis Budget Group excels in Q3 earnings, eyes growth opportunities

Avis Budget Group's Q3 performance showcases strong revenue and EBITDA figures, with a focus on fleet discipline and high-margin business. While facing pricing challenges, the company is optimistic about future growth opportunities through operational efficiencies and enhanced customer experience.

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Avis Budget Group, Inc. engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean. The International segment is involved in the vehicle rental and car sharing operations in Europe, the Middle East, Africa, Asia, and Australasia. The company was founded in 1946 and is headquartered in Parsippany, NJ.

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Here we pick four business service stocks -- Avis Budget (CAR), S&P Global (SPGI), Fiserv (FISV), and Paychex (PAYX) -- that are likely to pull off earnings surprises this season.

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BOSTON, April 21, 2021 /PRNewswire/ -- Today, Zipcar, the world's leading car-sharing network, is building on its partnership with the City of Philadelphia and the Philadelphia Parking Authority with the addition of nearly 50 Zipcar vehicles to convenient, designated on-street parking spots across the city. Since 2007, Zipcar has been providing members in Philadelphia with access to a vehicle without the cost or hassles of car ownership.

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Conference Call to Discuss Results Scheduled for May 4th, 2021 Conference Call to Discuss Results Scheduled for May 4th, 2021

Avis Budget Group to Announce First Quarter 2021 Results on May 3rd

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The car rental company got pushed lower along with a Wall Street downgrade.

Why Shares of Avis Budget Group Fell 7% in Early Trading Today

Avis Budget's (CAR) ability to cater to a wide range of mobility demands helps it expand and strengthen its global foothold through organic growth.

Reasons to Retain Avis Budget (CAR) Stock in Your Portfolio

Avis Budget Group Inc. said Tuesday it's planning to offer $350 million of high-yield bonds that mature in 2028 in a private offering. The car rental company said proceeds of the deal will be used along with cash on hand to redeem all of the outstanding 6.375% senior notes due 2024.

Avis Budget Group to offer $350 million of high-yield bonds due 2028

PARSIPPANY, N.J., March 09, 2021 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”), intend, subject to market and other customary conditions, to offer $350 million aggregate principal amount of senior notes due 2028 (the “Notes”) in a private offering. The Notes will be guaranteed on a senior unsecured basis by Avis Budget Group, Inc. and certain of its U.S. subsidiaries.

Avis Budget Group Announces Intention to Offer $350 Million of Senior Notes

Shares of Avis Budget Group Inc. hiked 2.5% higher in afternoon trading Wednesday, putting them on track to close at exactly a 6-year high, after BofA Securities analyst Aileen Smith boosted her price target by 40%, saying there's "still good mileage left in this rental." Smith reiterated her buy rating on the rental car company while lifting her price target to $70, which is 15.5% above current levels, from $50.

Avis Budget stock rises toward 6-year high after BofA bumps up price target by 40%

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What's Driving Avis Budget Group Higher Friday?

PARSIPPANY, N.J., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”) priced an offering of $600 million aggregate principal amount of 5.375% senior notes due 2029 (the “Notes”) in a private offering. The Notes will have a maturity date of March 1, 2029. The closing of the offering of the Notes is expected to occur on March 1, 2021, subject to customary closing conditions. The Notes will be issued at par and guaranteed on a senior unsecured basis by the Company and certain of its U.S. subsidiaries.

Avis Budget Group Announces Pricing of $600 Million of Senior Notes

Avis Budget Group, Inc. (CAR) CEO Joe Ferraro on Q4 2020 Results - Earnings Call Transcript

Avis is still dealing with COVID-19 headwinds, but the company is well positioned to drive through 2021.

Why Avis Budget Group Dropped 10% After Solid Progress

PARSIPPANY, N.J., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”), intend, subject to market and other customary conditions, to offer $600 million aggregate principal amount of senior notes due 2029 (the “Notes”) in a private offering. The Notes will be guaranteed on a senior unsecured basis by Avis Budget Group, Inc. and certain of its U.S. subsidiaries.

Avis Budget Group Announces Intention to Offer $600 Million of Senior Notes

Avis Budget (CAR) fourth-quarter 2020 earnings and revenues decrease year over year.

Avis Budget (CAR) Q4 Earnings Beat Estimates, Revenues Miss

Shares of Avis Budget Group Inc. rose nearly 1% in the extended session Tuesday after the car-rental company reported a narrower-than-expected fourth-quarter loss and said it reined in costs. Avis said it lost $90 million, or $1.29 a share, in the quarter, contrasting with a profit of $142 million, or $1.90 a share, in the year-ago quarter.

Avis stock rises on narrower Q4 loss, cost savings

PARSIPPANY, N.J., Feb. 16, 2021 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced financial results for fourth quarter and full year ended December 31, 2020.

Avis Budget Group Removes More than $2.5 billion of Costs Setting the Stage for Future Recovery

Does Avis Budget Group (CAR) have what it takes to be a top stock pick for momentum investors? Let's find out.

Avis Budget Group (CAR) is a Great Momentum Stock: Should You Buy?

Shares of car rental company Avis Budget Group Inc. (NASDAQ: CAR) are up more than six-fold since bottoming at $6.35 last March and three catalysts could help lift shares even higher, according to BofA Securities. The Avis Budget Analyst: Aileen Smith initiated coverage of Avis Budget Group's stock with a Buy rating and $50 price target.

3 Reasons Why Avis Budget Shares Could Go Higher

Shares of Avis Budget Group Inc. rallied toward an 11-month high on Monday, after BofA Securities analyst Aileen Smith recommended investors buy, targeting about a 20% gain.

The Ratings Game: Avis stock rises after BofA says buy, with a $50 target

Fleet expansion and impressive share-holder friendly moves bode well for Avis Budget (CAR).

News for Avis Budget Group Stock (CAR)