Investors may access the call at ir. or by dialing (877) 407-2991 and a replay will available on our website and at (877) 660-6853 using conference code 13733521.Īvis Budget Group, Inc.
We will host a conference call to discuss our third quarter results on November 1, 2022, at 8:30 a.m. Additionally, we continue to invest in the build-out of our electric vehicle infrastructure. QuickPass was successfully deployed across all major US airports allowing customers to bypass the counter, select their vehicle, and use an automated express exit and completion of their rental, including their receipt, all through their phone.It is the best quarterly Adjusted EBITDA in International's history. Adjusted EBITDA in International was $291 million for the third quarter 2022 driven by increased pricing and return of demand.It is the best quarterly Adjusted EBITDA in Americas’ history. Adjusted EBITDA in the Americas was $1.2 billion for the third quarter 2022 driven by record demand.Total Company revenues increased by 18% and 29% compared to third quarter 20, respectively.We remain optimistic this will continue throughout the Fall and into the holiday season.” “Despite growing concerns around an economic slowdown, our strong summer performance, driven by increased demand in both the commercial and leisure segments, carried through to September. “I want to thank all the employees for their terrific efforts in helping us deliver the best quarterly results in our Company’s history,” said Joe Ferraro, Avis Budget Group Chief Executive Officer. We have well-laddered corporate debt and no meaningful maturities until 2024. Our liquidity position at the end of the quarter was approximately $1.7 billion, with an additional $2.6 billion of fleet funding capacity. Net income was $1.0 billion and our Adjusted EBITDA was $1.5 billion, our best quarterly net income and Adjusted EBITDA in our history. We ended the quarter with revenues 18% above third quarter 2021, at $3.5 billion, a new quarterly revenue record, surpassing our second quarter 2022 record, driven by continued strong demand and increased revenue per day. ( NASDAQ: CAR) today announced financial results for third quarter 2022. 31, 2022 (GLOBE NEWSWIRE) - Avis Budget Group, Inc.
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