NASDAQ$CAR
Avis Budget Group Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Avis Budget Group's Q3 2023 performance was marked by robust revenues driven by peak demand and seasonal revenue per day increases, alongside solid net income and Adjusted EBITDA.
Avis Budget Group reported Q3 2023 revenues of $3.6 billion, net income of $627 million, and Adjusted EBITDA of $907 million. The company experienced record volume in the Americas, driven by strong demand and seasonal revenue per day increases.
- Revenues reached $3.6 billion, with rental days up 5% compared to Q3 2022.
- Adjusted EBITDA in the Americas was $740 million, fueled by strong demand and a seasonal revenue per day increase.
- Adjusted EBITDA in International was $196 million, driven by peak demand.
- The company repurchased approximately 2.2 million shares of common stock for $487 million during the quarter.
Headline financials
Revenue & EPS history
Avis · Revenue · Quarterly
$3.56B
Revenue by segment
Avis · $3.56B total across 2 segments · Q3 2023
- Americas$2.74B+1.2%76.8%
- International$828M-1.9%23.2%
Forward guidance
October started off strong and we expect it to continue throughout the holiday season.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.8%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+1.0%
Avg return
30 days after
43%
28 / 65 earnings
Positive
+106.1%
Q3 2021
Best reaction
-25.8%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.1% | -11.6% | -3.1% | |
| Q4 2025 | -21.7% | -23.8% | -19.0% | |
| Q3 2025 | -6.1% | -12.3% | -13.7% | |
| Q1 2025 | +0.6% | +5.8% | +22.4% | |
| Q4 2024 | -6.8% | +1.2% | -30.9% | |
| Q3 2024 | +7.1% | +3.0% | +26.9% | |
| Q2 2024 | +2.2% | +3.0% | -11.7% | |
| Q1 2024 | +19.2% | +27.3% | +19.2% | |
| Q4 2023 | -23.1% | -33.5% | -33.0% | |
| Q3 2023 | +14.9% | +23.1% | +20.2% | |
| Q2 2023 | +1.9% | +1.3% | -1.1% | |
| Q1 2023 | -2.8% | -5.2% | -5.0% | |
| Q4 2022 | +13.6% | +12.1% | -12.9% | |
| Q3 2022 | -9.4% | -4.7% | -8.1% | |
| Q2 2022 | -5.2% | +1.1% | -8.0% | |
| Q1 2022 | +6.6% | -4.4% | -30.0% | |
| Q4 2021 | -5.5% | -11.5% | +55.3% | |
| Q3 2021 | +106.1% | +71.6% | +46.1% | |
| Q2 2021 | -12.8% | -2.7% | +10.5% | |
| Q1 2021 | -7.0% | -8.2% | -3.3% | |
| Q4 2020 | -4.2% | +9.0% | +50.6% | |
| Q3 2020 | -4.2% | -13.1% | +5.3% | |
| Q2 2020 | -4.1% | -9.5% | +19.3% | |
| Q1 2020 | -0.1% | +6.0% | +95.7% | |
| Q4 2019 | +21.8% | +6.8% | -73.4% | |
| Q3 2019 | -8.0% | -1.1% | -1.4% | |
| Q2 2019 | -3.0% | -9.6% | -29.8% | |
| Q1 2019 | +1.6% | +3.3% | -20.2% | |
| Q4 2018 | +16.5% | +19.3% | +12.3% | |
| Q3 2018 | -2.1% | +6.8% | -7.7% | |
| Q2 2018 | -8.2% | -5.8% | -12.4% | |
| Q1 2018 | -9.6% | -7.2% | -19.8% | |
| Q4 2017 | +10.7% | +15.9% | +15.2% | |
| Q3 2017 | -14.2% | -18.3% | -3.6% | |
| Q2 2017 | -6.6% | +8.0% | +11.7% | |
| Q1 2017 | -5.5% | -13.0% | -27.3% | |
| Q4 2016 | -6.9% | -12.1% | -14.9% | |
| Q3 2016 | +12.3% | +20.0% | +18.4% | |
| Q2 2016 | +2.5% | +6.6% | +0.2% | |
| Q1 2016 | +1.5% | — | — | |
| Q4 2015 | -25.8% | — | — | |
| Q3 2015 | -7.2% | — | — | |
| Q2 2015 | +3.8% | — | — | |
| Q1 2015 | -2.9% | — | — | |
| Q4 2014 | +2.9% | — | — | |
| Q3 2014 | -1.5% | — | — | |
| Q2 2014 | +4.6% | — | — | |
| Q1 2014 | -3.9% | — | — | |
| Q4 2013 | +12.1% | — | — | |
| Q3 2013 | +8.0% | — | — | |
| Q2 2013 | -6.7% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2012 | +4.6% | — | — | |
| Q3 2012 | -0.4% | — | — | |
| Q2 2012 | +7.7% | — | — | |
| Q1 2012 | +3.9% | — | — | |
| Q2 2011 | +1.0% | — | — | |
| Q4 2011 | +1.0% | — | — | |
| Q3 2011 | -5.8% | — | — | |
| Q4 2010 | -5.3% | — | — | |
| Q1 2010 | +1.2% | — | — | |
| Q1 2011 | -1.5% | — | — | |
| Q3 2010 | +5.2% | — | — | |
| Q2 2010 | -0.5% | — | — | |
| Q4 2009 | -0.5% | — | — |
Discussion
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