Photo via Travelarz/Wikimedia.

Photo via Travelarz/Wikimedia. 

In the first quarter of 2018, Avis Budget Group reported an increase in revenue of 7% compared to 2017 based on a 5% increase in total rental days and strong pricing in the Americas.

Net loss for the quarter narrowed from $107 million in 2017 to $87 million, while adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) improved by $29 million, driven by a 4% reduction in per-unit fleet costs.

"The first quarter has our year starting on a very positive note with strong demand, higher underlying pricing in the Americas, improved utilization and lower per-unit fleet costs," Larry De Shon, Avis Budget Group president and chief executive officer, said in a press release. “With both pricing and fleet costs in the Americas having stabilized, the benefits of our strategic initiatives were clearly evident this quarter with year-over-year profitability improving significantly."

Internationally, revenue growth was driven by 9% higher volume offset by lower pricing and other costs.

Avis Budget Group reaffirmed its full-year estimates of revenues from $9.2 to $9.45 billion and adjusted net income of $240 to $310 million.

Related Content: Avis Budget Group 2017 Results: Revenues Up, Adjusted Income Down

Originally posted on Auto Rental News

About the author
Staff Writer

Staff Writer


Our team of enterprising editors brings years of experience covering the fleet industry. We offer a deep understanding of trends and the ever-evolving landscapes we cover in fleet, trucking, and transportation.  

View Bio