Avis Budget Stock Price, News & Analysis

Avis Budget Group (NASDAQ: CAR) has announced a strategic multi-year partnership with Waymo to launch and scale a fully autonomous ride-hailing service in Dallas. Under the agreement, Avis will serve as Waymo's fleet operations partner, providing infrastructure, vehicle readiness, maintenance, and depot operations.

The partnership marks Avis's evolution from a traditional rental car company to a fleet management provider for autonomous mobility. Initial testing is already underway, with the public launch scheduled for 2026. The collaboration positions Avis to leverage its core fleet management expertise in the growing autonomous vehicle sector, with plans to expand to additional cities in the future.

Avis Budget Group (NASDAQ: CAR) has scheduled its second quarter 2025 financial results announcement for July 29th, 2025, after market close. The company will host a conference call for institutional investors on July 30th, 2025, 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 IR website, and a telephone replay will be accessible from 12:30 p.m. ET on July 30th until 10:00 p.m. on August 13th.

Avis Budget Group (NASDAQ: CAR) has launched Avis First, a premium concierge-level car rental service that revolutionizes the traditional rental experience. The new service offers curbside pickup, premium vehicles, and a personal concierge, eliminating the need for shuttle buses or parking garage navigation.

The service is currently available at major airports in Denver, Honolulu, Palm Beach, and Fort Lauderdale, as well as in local markets including Manhattan, Hoboken, Jersey City, Chicago, San Francisco, Miami, Orlando, Washington D.C., and Seattle. Avis First features include personalized concierge service, automated fuel fill-up at market price, and curbside drop-off at departures.

Avis Budget Group (NASDAQ: CAR) has launched Avis First, a premium concierge-level car rental service that revolutionizes the traditional rental experience. The new service offers curbside pickup, premium vehicles, and a personal concierge to handle all aspects of the rental process.

The service is currently available at major airports in Denver, Honolulu, and Palm Beach, as well as in local markets including Manhattan, Hoboken, Jersey City, Chicago, San Francisco, Miami, Orlando, Washington D.C., and Seattle. Avis First features include personalized concierge service, curbside vehicle delivery, CarPlay connection assistance, and convenient vehicle return at departures with complimentary fuel fill-up at market price.

Avis Budget Group (NASDAQ: CAR) has announced the appointment of Daniel Cunha as Chief Financial Officer, effective July 1, 2025, replacing Izzy Martins who will depart on June 30, 2025. Cunha joins from Orion Services Group where he served as CFO, and previously held CFO positions at Ocean Spray and Heinz North America. His background includes consulting at McKinsey & Company and private equity experience at GP Investments. He holds an engineering degree from Instituto Tecnológico de Aeronáutica and an MBA from Harvard Business School. Martins, who served the company for over 20 years, will continue advising through August 31, 2025, to ensure a smooth transition. The appointment comes as Brian Choi prepares to assume the role of Chief Executive Officer.

Avis Budget Group (NASDAQ: CAR) has announced the pricing of $600 million in senior notes, due June 15, 2032, with an interest rate of 8.375%. This represents a $100 million increase from the previously announced offering size. The notes will be issued at par and guaranteed on a senior unsecured basis by the company and certain U.S. subsidiaries. The offering is expected to close on May 19, 2025.

The company plans to use the proceeds for general corporate purposes, including potential repayment of its floating rate term loan A maturing in December 2025 and a portion of its outstanding fleet debt. The notes are being offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

Avis Budget Group (NASDAQ: CAR) announced its intention to offer $500 million in senior notes due 2032 through its subsidiaries Avis Budget Car Rental, LLC 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 proceeds for general corporate purposes, including potential repayment of indebtedness such as its floating rate term loan A maturing in December 2025 and a portion of outstanding fleet debt. The offering is limited to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

Avis Budget Group (NASDAQ: CAR) reported its Q1 2025 financial results with revenues of $2.4 billion, a net loss of $505 million, and an Adjusted EBITDA loss of $93 million. The company recorded a significant non-cash fleet charge of $390 million related to vehicle dispositions in the Americas. Revenue metrics showed a 2% decline in revenue per day and a 1% decrease in rental days compared to Q1 2024. The Americas segment posted an Adjusted EBITDA loss of $67 million, while International operations reported a $3 million loss, improving from a $15 million loss year-over-year. Notably, Avis strengthened its financial position by issuing a $500 million floating rate term loan and increasing fleet funding capacity by $640 million. The company's liquidity position stood at over $1.1 billion, with an additional $3 billion in fleet funding capacity.

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.