Earnings ·
Avis Budget reports Q3 net income of $199 million and plans to repay $350M in notes
CARAvis Budget Group, Inc.
Avis Budget Group reported third-quarter 2026 results with revenues of $3.4 billion, net income attributable to the company of $183 million ($5.15 diluted EPS), and Adjusted EBITDA of $513 million. Vehicle utilization reached a record high of 74.0% for the quarter. The company also announced it received a $650 million cash settlement from Pentwater Capital Management LP, to be recognized in Q4, and delivered a redemption notice on November 2nd to repay the remaining $350 million outstanding principal amount of its 5.750% Senior Notes due 2027 prior to year-end. Avis Budget Group is a leading global provider of mobility solutions through brands including Avis, Budget, and Zipcar.