Avis Budget Group, Inc. filings document the formal disclosure record for its common stock, listed on the Nasdaq Global Select Market under CAR, and for its global rental and mobility operations. Current reports cover operating results, non-GAAP measures, rental-day, revenue-per-day, vehicle-utilization and fleet-cost metrics across the Americas and International businesses.
Material-event filings also describe fleet financing through Avis Budget Rental Car Funding (AESOP) LLC, including asset-backed notes and variable-funding facilities secured primarily by domestic rental vehicles and related assets. Proxy materials cover annual meeting votes, board elections and governance matters, while current-report disclosures address equity distribution arrangements, capital structure, shareholder voting matters and fleet strategy items.
Avis Budget Group, Inc. (CAR) received $650,000,000 in cash on October 5, 2026, under the Settlement and Release Agreement it entered into on June 19, 2026, with Pentwater Capital Management LP and certain affiliated persons. The agreement settles the company's lawsuit seeking recovery of short-swing profits under Section 16(b) of the Securities Exchange Act of 1934. The court approved the payment.
Avis Budget expects to use a portion of the settlement amount to repay the remaining $350 million outstanding principal on its 5.750% Senior Notes due 2027 before year-end. The company says this expected use may be affected by market conditions, liquidity needs or other factors. It will recognize the settlement amount in its fourth-quarter financial statements. The company stated that this disclosure is not a notice of redemption for the notes.
Avis Budget Group's Avis Budget Rental Car Funding (AESOP) LLC subsidiary, ABRCF, issued $650 million of Series 2026-5 asset-backed securities with a five-year maturity. The amount comprises Class A notes of $474.5 million at 5.69%, Class B notes of $61.75 million at 5.95%, Class C notes of $47.125 million at 6.44%, and Class D notes of $66.625 million at 8.14%.
ABRCF separately issued $35.75 million of Class R notes at 9.598%. The Class R notes are subordinated to Classes A through D and were issued to comply with applicable U.S. risk retention rules. AESOP Leasing L.P., another Avis Budget Group subsidiary, holds the Class R notes.
The notes are secured by vehicles in Avis Budget Group's domestic fleet and other related assets. ABRCF also entered into technical amendments to certain rental-car fleet financing documents.
Avis Budget Group, Inc. (CAR) reported that Ravi Simhambhatla, its Executive Vice President and Chief Digital & Innovation Officer, will be leaving the company. He will continue in his current role until September 30, 2026 to support a smooth transition.
The company expressed appreciation for his leadership and contributions over the past four years. No successor, compensation changes, or strategic shifts were described in this report.
Avis Budget Group EVP Ravi Simhambhatla, EVP, Chief Digital & Innovation Officer, reported three open‑market sales of Avis Budget Group common stock on 2026-08-07. He sold 4,702 shares total: 2,936 shares at $138.27, 1,490 shares at $139.53, and 276 shares at $140.27, each price disclosed as a weighted average with intraday ranges.
Avis Budget Group reported second-quarter 2026 revenues of $2,998 million, slightly below 2025, with income before income taxes of $73 million and net income attributable to the company of $35 million (basic EPS $1.00). For the first six months, revenues were $5,528 million and the net loss attributable to the company narrowed to $248 million. Adjusted EBITDA reached $286 million in the quarter and $173 million year to date, as lower per‑unit fleet costs and higher revenue per day offset softer rental volumes.
Operating cash flow for the first half was $1,066 million, funding significant fleet investment and vehicle programs. As of June 30, 2026, total assets were $32,328 million, including $21,465 million of assets under vehicle programs; corporate long‑term debt was $5,999 million and debt under vehicle programs $19,850 million, with stockholders’ equity at a negative $3,374 million, largely reflecting substantial treasury stock. The company disclosed a proposed $650 million cash settlement in a Section 16(b) action that will be recognized only if court approval and other conditions are satisfied, and vehicle purchase commitments of approximately $2.6 billion over the next 12 months.
Avis Budget Group reported second-quarter 2026 revenue of $2.998 billion, down 1% year over year, with net income attributable to the company of $35 million, total net income of $63 million, Adjusted EBITDA of $286 million (up 3%) and diluted EPS of $0.98.
Total vehicle utilization reached a record second-quarter 72.6% for the company and 73.2% in the Americas, while total per‑unit fleet costs per month declined 4% to $292. Revenue per day increased 1% year over year and rental days fell 2%. The company highlighted its autonomous vehicle partnership with Waymo in Dallas and several financing actions, including issuing $300 million of add-on senior notes, refinancing a $2 billion revolving credit facility to 2031 and adding a new $200 million facility. Quarter-end liquidity was about $1.0 billion, plus $1.9 billion of fleet funding capacity.
Avis Budget Group executive Ravi Simhambhatla settled equity awards as 16,878 restricted stock units and 913 dividend equivalent units automatically converted into 17,791 shares of common stock on July 26, 2026. 8,155 shares were withheld at $159.48 per share to satisfy tax obligations associated with the vesting.
Daniel Crestian Cunha, EVP and CFO of Avis Budget Group, reported the vesting of 969 restricted stock units on July 23, 2026. These units automatically converted into 969 shares of Common Stock, and 304 shares were withheld at $159.04 per share to cover tax obligations. After the conversion, he holds 1,940 restricted stock units, with the units associated with this award vesting in three equal installments on July 23, 2026, 2027 and 2028. The transactions were not reported as made under a Rule 10b5-1 trading plan.
Avis Budget Group updated its main corporate credit facilities through an Eleventh Amendment to its existing credit agreement. The company refinanced its existing $2 billion revolving loan facility with a new $2 billion 2031 Revolving Facility, which now matures on June 29, 2031, subject to a springing maturity if certain long-term debt exceeds $300 million.
The Borrower also established a new $200 million 2028 Revolving Facility maturing on June 29, 2028, with a springing maturity tied to the same long-term debt threshold and to any legal settlement cash proceeds above $500 million. These changes reset the company’s revolving credit maturities and add additional committed liquidity capacity under revised terms.