Avis Budget (CAR) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 04, 2026

After Close (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

2.1

Last Year’s EPS

2.7

Same Quarter Last Year

Analyst Consensus

Moderate Sell

Based on 6 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveys meaningful operational progress and financial improvement—beat on adjusted EBITDA, raised full-year guidance, pricing recovery in the Americas, improved utilization, fleet youth and liquidity/ refinancing wins—while acknowledging material near-term challenges including elevated leverage, governance/stock volatility tied to a large shareholder sale and uneven international demand. Management presented a clear plan (fleet discipline, debt repayment, ongoing EBITDA growth) and expects continued improvement, supporting an overall constructive tone.

Company Guidance

Management raised full‑year adjusted EBITDA guidance to $850M–$1.0B after Q1 outperformance of roughly $50M; net corporate leverage was 7.6x as of March 31 with a plan to get below 6x by year‑end and a longer‑term target of 2–4x. Liquidity exceeded $900M with ~$2.9B of ABS capacity; the company renewed a ~€2.4B European securitization (extended two years), issued $668M of AESOP term debt across 3‑ and 5‑year tenors, expects to renew a $2.4B AESOP VFN facility, has $480M of seasonal capacity through Oct‑2026, and has no corporate debt maturities until 2027. Operationally, Americas revenue grew 2.9% with rental days essentially flat and RPD up 2.8% (exiting March ~+4%), ancillary +1.9%, leisure share +1.1 pts, TSA volumes +1.6% and a deliberate Americas fleet reduction of ~0.6%; utilization hit the highest Q1 level in 15+ years, the fleet is ~20% younger, and monthly Americas depreciation averaged about $380 in Q1 (from >$500 in January into the mid‑$300s by March) with a meaningful decline expected in Q2. International rental days were down 3.8% while RPD rose ~3% on a constant‑currency basis, and management said Americas rental days are trending mid‑single‑digit growth with RPD holding into the summer (Waymo Dallas launch on track for Q3).

Adjusted EBITDA Beat and Raised Guidance

Adjusted EBITDA exceeded plan by approximately $50 million in Q1; company raised full-year adjusted EBITDA guidance to a range of $850 million to $1.0 billion.

Revenue and Pricing Improvement in Americas

Americas revenue grew 2.9% year-over-year; revenue per day (RPD) in the Americas increased 2.8% YoY (exited the quarter up nearly 4% YoY), marking the first quarter of positive pricing in the Americas since Q4 2022.

Improved Ancillary Revenue and Mix

Ancillary revenue grew 1.9% year-over-year and leisure share of revenue increased by 1.1 percentage points, supporting a shift toward higher-quality revenue.

Higher Utilization and Fleet Optimization

Utilization in the Americas was the highest seen in over 15 years for a Q1; fleet was deliberately reduced by 0.6% while maintaining rental days, and the fleet is approximately 20% younger versus prior period.

Depreciation Normalization Progress

Monthly depreciation in the Americas averaged roughly $380 for the quarter, improving from above $500 in January and moving into the mid-$300s by March; company expects depreciation to decline meaningfully in Q2.

Strong Liquidity and Refinancing Activity

As of March 31, available liquidity exceeded $900 million with about $2.9 billion of additional ABS capacity; renewed EUR 2.4 billion European securitization facility (extended 2 years) and issued $668 million of AESOP term debt across 3- and 5-year tenors.

Operational Dispositions and Used-Car Market Execution

Teams disposed of a record number of vehicles in the Americas, taking advantage of stronger-than-expected first-quarter used-car demand (Manheim Index above prior years) to rightsize fleet and accelerate depreciation normalization.

Strategic Product and Partnership Progress

Avis First expanded to 36 locations (including 9 international airports) with strong customer satisfaction metrics; Waymo partnership on track for Dallas launch in Q3 with impending public rider availability and potential future city expansions.

Avis Budget (CAR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CAR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 04, 2026	2026 (Q2)	2.10 / -	2.699	―	―	―
Apr 29, 2026	2026 (Q1)	-6.83 / -6.31	-2.106	-199.62% (-4.20)
Feb 18, 2026	2025 (Q4)	-0.38 / -4.60	17.493	-126.31% (-22.09)
Oct 27, 2025	2025 (Q3)	7.98 / 10.96	7.238	51.35% (+3.72)
Jul 29, 2025	2025 (Q2)	2.21 / 2.70	1.558	73.23% (+1.14)
May 07, 2025	2025 (Q1)	-5.95 / -2.11	-3.07	31.40% (+0.96)	―
Feb 11, 2025	2024 (Q4)	-1.16 / 17.49	7.375	137.19% (+10.12)	―
Oct 31, 2024	2024 (Q3)	8.26 / 7.24	16.86	-57.07% (-9.62)	―
Aug 05, 2024	2024 (Q2)	2.49 / 1.56	11.137	-86.01% (-9.58)	―
May 01, 2024	2024 (Q1)	-2.94 / -3.07	7.72	-139.77% (-10.79)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CAR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 29, 2026	$182.00	$181.15	-0.47%
Feb 18, 2026	$123.30	$96.74	-21.54%
Oct 27, 2025	$155.18	$145.77	-6.06%
Jul 29, 2025	$203.88	$172.46	-15.41%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.