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. reports developments in global mobility services, including vehicle rental under the Avis and Budget brands, car sharing through Zipcar, and licensee operations in markets where it does not operate directly. The company operates most rental offices in North America, Europe and Australasia and describes its business through Americas and International segments.
Recurring news centers on quarterly results, fleet discipline, pricing, utilization, per-unit fleet costs and rental-day metrics. Updates also cover product and mobility initiatives such as Avis First, strategic fleet-management partnerships, customer-experience programs and fleet strategy changes, including disclosures tied to electric vehicle rental assets.
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 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) 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.