CAR - Avis Budget GAAP EPS of $7.72 beats by $3.10 revenue of $2.6B beats by $60M
2023-05-01 16:04:03 ET
- Avis Budget press release ( NASDAQ: CAR ): Q1 GAAP EPS of $7.72 beats by $3.10 .
- Revenue of $2.6B (+8.3% Y/Y) beats by $60M .
- Adjusted EBITDA in the Americas was $516 million for the first quarter of 2023 driven by strong demand and improved utilization.
- Adjusted EBITDA in International was $50 million, a new first quarter record, driven by improved pricing, volume and utilization.
- Voluntary cash contribution of nearly $500 million to vehicle programs.
- Company liquidity position at the end of the quarter was approximately $1.4 billion, with an additional $2.3 billion of fleet funding capacity.
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Avis Budget GAAP EPS of $7.72 beats by $3.10, revenue of $2.6B beats by $60M