Quarterly ResultApr 29, 2026, 07:07 AM
CAR Q1 Revenue $2.5B; Net Loss $234M; Adj EBITDA Loss $113M
AI Summary
Avis Budget Group (CAR) reported its first quarter 2026 results with revenues of $2.5 billion, a net loss of $234 million, and an Adjusted EBITDA loss of $113 million. CEO Brian Choi noted a "meaningful inflection" in operating performance, citing tighter fleet discipline, improving pricing, and stronger utilization. Key operational highlights included a 3% increase in revenue per day in both Americas and International segments, record Q1 vehicle utilization of 70%, and a significant improvement in Adjusted free cash flow to $80 million.
Key Highlights
- Q1 2026 revenue was $2.5 billion.
- Reported a net loss of $234 million for Q1 2026.
- Adjusted EBITDA loss for Q1 2026 was $113 million.
- Revenue per day increased 3% in both Americas and International.
- Vehicle Utilization reached 70% for both Americas and International, a 15-year Q1 record.
- Per-unit fleet costs were flat at $351 per month.
- Adjusted free cash flow improved by over $570 million to $80 million.
- Liquidity position at quarter-end was $915 million with $2.9 billion fleet funding capacity.