Reports Q1 revenue $2.4B, consensus $2.49B. Reports Q1 adjusted EBITDA loss of $93M. “We made substantial progress on our fleet rotation strategy during the first quarter, disposing of a record number of vehicles,” said Joe Ferraro, Avis Budget (CAR) Group CEO. “These actions will allow us to realize improved vehicle costs sooner than we anticipated. We had a solid first quarter, coming in as expected given the calendar shifts. Advanced reservations continue to trend positively, and we will keep a close watch on demand trends while maintaining the ability to adjust our fleet accordingly.”
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