The earnings call highlighted strong full-year revenue and record-breaking holiday demand, supported by technological advancements and improved vehicle utilization. However, significant challenges included a large non-cash asset impairment, adjusted EBITDA loss, and decreased international rental performance. The sentiment is balanced with notable achievements offset by substantial challenges.

Company Guidance

During Avis Budget Group's fourth quarter and full year 2024 earnings call, significant guidance was provided regarding the company's financial outlook and strategic initiatives. For 2024, Avis reported revenue of $11.8 billion with an adjusted EBITDA of $628 million, despite a $2.5 billion non-cash asset impairment due to an accelerated fleet rotation strategy. This strategy aims to replace higher-cost model year '23 and '24 vehicles with more affordable model year '25 vehicles, thus positioning the company to normalize fleet costs and improve utilization. The Americas segment reported $2.1 billion in revenue for the fourth quarter with an adjusted EBITDA loss of $63 million, while international operations saw revenue of over $590 million with an adjusted EBITDA loss of $11 million. Vehicle utilization in the Americas and international regions improved year-over-year by more than two and three percentage points, respectively. Looking ahead, Avis anticipates generating no less than $1 billion in adjusted EBITDA in 2025, with fleet cost per unit per month expected to decrease throughout the year, exiting at approximately $300. The company is also focused on leveraging data analytics and new technologies to enhance customer experience and operational efficiencies.

Strong Full Year Revenue

Achieved $11.8 billion in revenue for the full year 2024, indicating strong demand and performance.

Record December Holidays

Record-breaking revenue during the Christmas period in the U.S., indicating strong holiday demand.

Improved Vehicle Utilization

Americas vehicle utilization over 67%, more than two points higher than Q4 2023, with December at the high end of historic norms.

Technological Advancements

Launch of a new customer app and digital tools to improve customer experience and operational efficiency.

Positive Leisure Demand Trends

Strong leisure demand continued into January 2025 with robust MLK weekend performance.

International Utilization Improvement

International vehicle utilization over 68%, up nearly 3 points compared to the prior year.

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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
May 05, 2025	2025 (Q1)	-5.54 / -	-3.07	―	―	―
Feb 11, 2025	2024 (Q4)	-1.10 / 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)	―
Feb 12, 2024	2023 (Q4)	4.16 / 7.38	10.46	-29.49% (-3.09)	―
Nov 01, 2023	2023 (Q3)	14.18 / 16.86	21.7	-22.30% (-4.84)	―
Jul 31, 2023	2023 (Q2)	9.45 / 11.14	15.94	-30.13% (-4.80)	―
May 01, 2023	2023 (Q1)	3.07 / 7.72	9.99	-22.72% (-2.27)	―
Feb 13, 2023	2022 (Q4)	6.67 / 10.46	7.08	47.74% (+3.38)	―

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

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CAR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 11, 2025	$89.71	$83.59	-6.82%
Oct 31, 2024	$83.00	$92.06	+10.92%
Aug 05, 2024	$83.96	$86.27	+2.75%
May 01, 2024	$94.75	$113.77	+20.07%

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.

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