Earnings ·
Avis Budget reports Q2 revenue of $3.0B, net income of $63M as vehicle utilization hits record 72.6%
CARAvis Budget Group, Inc.
Avis Budget Group, Inc. reported second quarter 2026 financial results for the period ended June 30, 2026. The company generated revenues of $3.0 billion, net income of $63 million, and Adjusted EBITDA of $286 million. Total company vehicle utilization reached 72.6%, a record high for the quarter, while per-unit fleet costs decreased 4% year-over-year to $290 per month. During the quarter, the company issued $300 million in add-on unsecured Senior Notes due 2031 to repay a portion of notes due 2027, refinanced its $2 billion senior revolving credit facility with a maturity in June 2031, and established a new $200 million senior revolving credit facility maturing in June 2028. Liquidity stood at approximately $1.0 billion with $1.9 billion of additional fleet funding capacity. Avis Budget Group operates in the car rental and mobility solutions industry.