Avis Budget Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 04:05 pm EDT
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Avis Budget Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 3,564 million compared to USD 3,547 million a year ago. Net income was USD 626 million compared to USD 1,034 million a year ago. Basic earnings per share from continuing operations was USD 16.96 compared to USD 22.08 a year ago. Diluted earnings per share from continuing operations was USD 16.78 compared to USD 21.67 a year ago.
For the nine months, sales was USD 9,244 million compared to USD 9,223 million a year ago. Net income was USD 1,373 million compared to USD 2,341 million a year ago. Basic earnings per share from continuing operations was USD 35.11 compared to USD 47.34 a year ago. Diluted earnings per share from continuing operations was USD 34.71 compared to USD 46.32 a year ago.
Avis Budget Group, Inc. is a provider of mobility solutions through its three brands, Avis, Budget and Zipcar, as well as several other brands. Its brands offer a range of options, from car and truck rental to car sharing. Its segments include Americas and International. The Americas segment consists primarily of vehicle rental operations in North America, South America, Central America and the Caribbean, and operates a car sharing business in these markets. The International segment consists of vehicle rental operations in Europe, the Middle East, Africa, Asia and Australasia, and operates a car sharing business in these markets. The Avis brand provides vehicle rental and other mobility solutions at price points generally above non-branded and value-branded vehicle rental companies and serves the premium commercial and leisure segments of the travel industry. Its other brands include Payless, Maggiore and Morini Rent, FranceCars, Apex, Turiscar and ACL Hire and McNicoll Hire.
AVIS BUDGET GROUP, INC. 
