Avis Budget Group reported third‑quarter 2025 financial results, posting revenue of $3.5 billion, up 1.1% year‑over‑year, and net income of $360 million, a 51.9% increase from $237 million in the same quarter last year. Adjusted EBITDA reached $559 million.
The company beat consensus estimates, with revenue surpassing the $3.49 billion forecast and earnings per share of $10.11 exceeding the $8.12 consensus. The earnings beat was driven largely by lower fleet costs, which fell 17% to $303 per unit per month, and a modest 1% rise in rental days, offset by a slight decline in revenue per day to $71.22.
Avis Budget Group also announced a $1.1 billion floating‑rate term loan amendment that extends the maturity of the loan from August 2027 to July 2032, providing additional liquidity and flexibility for future capital expenditures.
CEO Brian Choi highlighted that the quarter marked meaningful progress, noting the return to revenue growth and continued investment in the company’s future, while reaffirming a focus on cost discipline and fleet optimization to sustain margin expansion through the peak travel season.
The company’s liquidity position at the end of the quarter was nearly $1.0 billion, with an additional $1.9 billion of fleet‑funding capacity.
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