Avis Budget Group Reports First Quarter 2026 Results
Avis Budget Group, Inc. (NASDAQ: CAR) announced its financial results for the first quarter ended March 31, 2026, on April 29, 2026. The company reported revenues of $2.5 billion, a net loss of $234 million, and an Adjusted EBITDA loss of $113 million. The results reflect operational changes implemented in the prior quarter, focusing on fleet discipline, pricing improvements, and increased utilization.
Operational Highlights
- Revenue per day, excluding exchange rate effects, increased by 3% in both the Americas and International regions compared to the first quarter of 2025.
- Vehicle Utilization reached 70% in both the Americas and International segments, marking a fifteen-year record for both.
- Total Company per-unit fleet costs remained flat at $351 per month, excluding exchange rate effects, compared to the first quarter of 2025.
- Adjusted free cash flow improved to $80 million, a significant increase of over $570 million compared to the first quarter of 2025.
- The company’s liquidity position at the end of the quarter was $915 million, with an additional $2.9 billion in fleet funding capacity.
Management Commentary
“We executed on the changes we outlined last quarter, and the first quarter reflects a meaningful inflection in our operating performance,” said Brian Choi, CEO of Avis Budget Group. “With tighter fleet discipline, improving pricing, and stronger utilization, we are building a more resilient business with clear momentum heading into the rest of the year.”
Investor Information
Supplemental financial information for the first quarter of 2026 is available on the company’s investor relations website at ir.avisbudgetgroup.com.
Conference Call Details
A conference call to discuss the first quarter results was held on April 29, 2026, at 8:30 a.m. (ET). Investors could access the call via the company’s investor relations website or by dialing (877) 407-2991. A replay of the call is available on the website and at (877) 660-6853, using conference code 13760060.