CAR - Avis Budget GAAP EPS of $11.01 beats by $1.27 revenue of $3.12B misses by $90M
2023-07-31 16:03:25 ET
- Avis Budget press release ( NASDAQ: CAR ): Q2 GAAP EPS of $11.01 beats by $1.27 .
- Revenue of $3.12B (-3.7% Y/Y) misses by $90M .
- Utilization was up 50 basis points compared to second quarter 2022, at 70.5%, as our fleet continues to be well positioned to meet growing demand.
- Adjusted EBITDA in the Americas was $631 million, driven by strong demand and improved utilization.
- Adjusted EBITDA in International was $126 million, driven by strong seasonally increasing volume.
- Voluntary cash contribution of nearly $400 million to vehicle programs in the quarter.
- In July 2023, we issued €400 million Senior Notes due July 2030 primarily to redeem our outstanding €300 million Senior Notes due November 2024.
- Shares +1.23% .
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Avis Budget GAAP EPS of $11.01 beats by $1.27, revenue of $3.12B misses by $90M