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. (NASDAQ: CAR) generates frequent news and disclosures as a global provider of mobility solutions in the passenger car rental sector. Through its Avis, Budget, Payless and Zipcar brands, the company reports on developments that span vehicle rental, car sharing, financing activities and broader mobility initiatives. News items often include quarterly earnings releases, capital markets transactions and updates on strategic partnerships.
Investors following CAR stock news can expect regular coverage of financial results, such as first, second and third quarter earnings announcements. These releases typically discuss revenues, net income or loss, Adjusted EBITDA and key operating metrics like rental days, revenue per day, vehicle utilization and per-unit fleet costs. The company also uses news releases to explain non-GAAP financial measures and to highlight factors affecting performance, including fleet rotation strategies and changes in fleet costs.
Avis Budget Group also issues news on strategic and product developments. In 2025, it announced the launch of Avis First, described as a premium, concierge-level car rental experience within the Avis brand, and a multi-year strategic partnership with Waymo to support a fully autonomous ride-hailing service in Dallas as a fleet operations partner. These announcements reflect how the company presents its role in the evolving mobility ecosystem.
Other CAR news items include updates on senior note offerings, amendments to credit agreements, asset-backed securities issuances secured by its vehicle fleet, and governance or shareholder-related matters disclosed via Form 8-K. For readers tracking Avis Budget Group, the news feed provides a centralized view of earnings, financing actions, new product offerings and material corporate events referenced in both press releases and SEC filings.
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.
Avis Budget Group (NASDAQ: CAR) announced its intention to offer $350 million in senior notes due 2028 via its subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. The net proceeds will be used to redeem existing 6.375% senior notes due 2024 and cover related expenses. This offering is targeted at qualified institutional buyers under Rule 144A of the Securities Act. The Notes and guarantees are unregistered and cannot be sold in the U.S. without exemption. The company faces uncertainties that could impact the offering due to market conditions and the COVID-19 pandemic.
Avis Budget Group (NASDAQ: CAR) announced a private offering of $600 million in 5.375% senior notes due 2029. The offering is set to close on March 1, 2021. The proceeds will be used to redeem existing 10.500% senior secured notes due 2025, along with associated fees. These notes will be available exclusively to qualified institutional buyers and will not be registered under the Securities Act. The company highlighted potential risks, including market conditions and the economic impacts of the COVID-19 pandemic.
Avis Budget Group (NASDAQ: CAR) announced a private offering of $600 million in senior notes due 2029. The offering is contingent on market conditions and will be guaranteed by the company and select subsidiaries. Proceeds will be used to redeem outstanding 10.500% senior secured notes due 2025, along with related fees. The offering complies with Rule 144A and is not open to U.S. residents except under specific exemptions. The press release serves informational purposes and does not represent a solicitation for securities.
Avis Budget Group (NASDAQ: CAR) reported a 37% revenue decline in Q4 2020, resulting in a net loss of $90 million. Despite challenges from the COVID-19 pandemic, the company achieved a positive Adjusted EBITDA of $74 million through cost reductions exceeding $500 million.
For the full year, revenue dropped 41%, with a net loss of $684 million. The company maintained a liquidity position of $1.3 billion, enabling continued fleet investment for 2021. Leadership emphasized the strong performance in the Americas' Adjusted EBITDA margins, noting that effective cost management remains a key focus moving forward.
Avis Budget Group (NASDAQ: CAR) will announce its Q4 2020 and full year results on February 16, 2021, after market close. A conference call for institutional investors is scheduled for February 17, 2021, at 8:30 a.m. Eastern, where results will be discussed. The call can be accessed via ir.avisbudgetgroup.com or by calling (877)-407-2991. A web replay will be available afterward. Avis Budget operates over 11,000 rental locations across approximately 180 countries and is headquartered in Parsippany, N.J.
Avis Budget Group reported third quarter 2020 results with a net income of $45 million and adjusted net income of $79 million despite a 44% drop in revenue year-over-year. Positive adjusted EBITDA reached $220 million through aggressive cost-cutting, removing approximately $1 billion in costs during the quarter and $2 billion year-to-date. The company's liquidity position improved to $2.4 billion, enabling plans to reinvest in its 2021 fleet. Though the fourth quarter is expected to experience normal seasonal declines, Avis anticipates remaining positive in adjusted EBITDA and adjusted free cash flow.
Avis Budget Group (NASDAQ: CAR) will release its third quarter 2020 results on October 29, 2020, after market close. A conference call for institutional investors is scheduled for October 30, 2020, at 8:30 a.m. Eastern time. Investors can access the details through their website or by phone, with a replay available after the call. Avis Budget Group, a global mobility solutions provider with over 11,000 rental locations, operates under the Avis and Budget brands and manages Zipcar, the leading car-sharing network.