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Avis Budget Group Inc - CAR STOCK NEWS

Welcome to our dedicated news page for Avis Budget Group (Ticker: CAR), a resource for investors and traders seeking the latest updates and insights on Avis Budget Group.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Avis Budget Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Avis Budget Group's position in the market.

Rhea-AI Summary
Avis Budget Group, Inc. announced a private offering of €600 million senior notes due 2029, increasing the size from the initial announcement. The proceeds will be used to redeem existing notes and for general corporate purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.81%
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Rhea-AI Summary
Avis Budget Group, Inc. announced a private offering of €400 million senior notes due 2029 by its subsidiary Avis Budget Finance plc. The Company plans to use the proceeds to redeem existing senior notes and for general corporate purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.35%
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Rhea-AI Summary
Avis Budget Group, Inc. (CAR) reported strong financial results for Q4 and full year 2023, with record revenues of $2.8 billion and $12.0 billion respectively. Net income reached $260 million for Q4 and $1.6 billion for the full year. Adjusted EBITDA stood at $311 million for Q4 and $2.5 billion for the full year. The company ended the year with a liquidity position of over $800 million and additional fleet funding capacity of $900 million. A special cash dividend of $10 per share was paid to shareholders, and share repurchases totaled $257 million in Q4 and $889 million for the year. A successful debt refinancing was also completed in November.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-22.9%
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none
Rhea-AI Summary
Avis Budget Group, Inc. (CAR) will report its Q4 2023 results on February 12th, 2024, and host a conference call for institutional investors on February 13th, 2024. The call will be accessible at ir.avisbudgetgroup.com or by dialing (877)-407-2991. A web replay and telephone replay will also be available.
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earnings
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Rhea-AI Summary
Zipcar (ZIP) Launches Electric Vehicle (EV) Initiative in 10 U.S. Cities
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.92%
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Rhea-AI Summary
Avis Budget Group, Inc. (NASDAQ: CAR) declared a special cash dividend of $10.00 per share of common stock, payable on December 21, 2023, to stockholders of record as of December 15, 2023. The company has also purchased approximately 1.3 million shares of its common stock in the fourth quarter of 2023, with $820 million remaining under its share repurchase program.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.8%
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dividends
Rhea-AI Summary
Avis Budget Group, Inc. (NASDAQ: CAR) announced a private offering of $500 million aggregate principal amount of 8.00% senior notes due 2031. The Notes will be issued at an issue price of 99.341% and guaranteed by the Company and certain subsidiaries. The net proceeds will be used for redeeming outstanding senior notes, repaying a portion of a term loan, and general corporate purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.5%
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Rhea-AI Summary
Avis Budget Group, Inc. (NASDAQ: CAR) announced a private offering of $500 million aggregate principal amount of senior notes due 2031 to redeem outstanding senior notes due 2025, repay a portion of its floating rate term loan, and cover general corporate purposes. The Notes and related guarantees are being offered to qualified institutional buyers under Rule 144A or to non-U.S. persons under Regulation S. The offering is not registered under the Securities Act and is for informational purposes only.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.6%
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Rhea-AI Summary
Avis Budget Group, Inc. (NASDAQ: CAR) reported Q3 2023 financial results with revenues of $3.6 billion, net income of $627 million, and Adjusted EBITDA of $907 million. The company ended the quarter with a liquidity position of $1.0 billion and additional fleet funding capacity of $1.1 billion. Q3 highlights include rental days up 5% compared to the same period last year and strong demand in the Americas and International segments. Avis Budget Group also repurchased 2.2 million shares of common stock for $487 million during the quarter.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
14.01%
Tags
earnings
Rhea-AI Summary
Avis Budget Group announces significant changes within its leadership team. Izzy Martins will become EVP & CFO, Brian Choi will become EVP & Chief Transformation Officer, Jagdeep Pahwa will become Chairman, and Bernardo Hees will continue as a Board Member. The changes will be effective from January 1, 2024. Avis Budget Group is a leading global provider of mobility solutions with rental locations in approximately 180 countries.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
14.01%
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Avis Budget Group Inc

Nasdaq:CAR

CAR Rankings

CAR Stock Data

3.92B
17.37M
2.49%
96.61%
8.69%
Passenger Car Rental
Real Estate and Rental and Leasing
Link
US
Parsippany

About CAR

avis budget group, inc. is a leading global provider of vehicle rental services, both through its avis and budget brands, which have more than 10,000 rental locations in approximately 175 countries around the world, and through its zipcar brand, which is the world's leading car sharing network, with more than 900,000 members. avis budget group operates most of its car rental offices in north america, europe and australia directly, and operates primarily through licensees in other parts of the world. avis budget group has approximately 30,000 employees and is headquartered in parsippany, n.j.