Second quarter revenues featured a 2% increase in rental days.
Avis Schedules Q2 Financial Call
Investors are encouraged to dial in approximately 10 minutes prior to the call.
Investors are encouraged to dial in approximately 10 minutes prior to the call.
Revenues grew 2% to $2.1 billion in the fourth quarter and 3% for the full year to $9.1 billion.
Revenues grew to a record $2.8 billion in the third quarter on both higher volume and increased underlying pricing in the Americas.
Net income improved to $26 million and adjusted net income increased 84% to $46 million, or $0.57 per diluted share.
All vehicles are Avis Certified — meaning they have passed a rigorous multi-point, bumper-to-bumper inspection process completed by certified mechanics, including ASE-Certified and ASE Master Technicians.
Revenue growth was driven by a 5% increase in total rental days and strong pricing.
Jay Cadigan will retire from Manheim, capping a 40-year career in the remarketing industry that included stints at auctions, as well as leasing companies and rental car operators.
Avis Budget Group has reported revenue of $2.2 billion for its second quarter 2017, unchanged compared to Q2 2016. This is primarily due to an increase in overall rental days being offset by a decrease in pricing.
Avis Budget Group Inc. plans to report its second quarter 2017 results after the market close on Monday Aug. 7.
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