#Avis budget group inc full#
It is the best full year Adjusted EBITDA in International's history. Adjusted EBITDA in International was $63 million for the fourth quarter and $560 million for the year ended 2022 driven by increased pricing and return of demand.It is the best full year Adjusted EBITDA in Americas' history. Adjusted EBITDA in the Americas was $624 million for the fourth quarter and $3.7 billion for the year ended 2022 driven by record demand.It is the best full year revenue in the Company's history. Total Company revenues was $2.8 billion for the fourth quarter and $12.0 billion for the year ended 2022 driven by strong demand and pricing.“2022 was a record setting year for our Company, and I want to thank our team, all around the world, for their outstanding efforts and look forward to another successful year in 2023.” These trends have continued into the first quarter,” said Joe Ferraro, Avis Budget Group Chief Executive Officer. "Our fourth quarter demand was strong with our commercial business performing well above 2019 levels, and the leisure segment continuing its strong performance, especially over the holiday period. We have well-laddered corporate debt and no meaningful maturities until 2024.
Our liquidity position at the end of the quarter was approximately $1.6 billion with an additional $1.9 billion of fleet funding capacity.
Net income was $2.8 billion and Adjusted EBITDA was $4.1 billion, both full year records for the Company. Utilization for the quarter was 67.0%, showing that our fleet continues to be well positioned to meet demand.įull year revenues increased 29% compared to the prior year and 31% compared to 2019, at $12.0 billion. Net income was $424 million and Adjusted EBITDA 1 was $658 million. Our revenues were driven by increased revenue per day and strong demand from both our commercial business and leisure holiday travel. We ended 2022 with fourth quarter revenues 8% above prior year and 28% above fourth quarter 2019, at $2.8 billion. ( NASDAQ: CAR) today announced financial results for fourth quarter and full year ended December 31, 2022. 13, 2023 (GLOBE NEWSWIRE) - Avis Budget Group, Inc.
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