Jun. 24 at 3:08 AM
$CAR Just a reminder of Q1 earnings: https://ir.avisbudgetgroup.com/news-releases/news-release-details/avis-budget-group-reports-first-quarter-results-2
Revenues were
$2.4 billion, with revenue per day, excluding exchange rate effects, down 2%, and rental days down 1% from first quarter 2024.
Adjusted EBITDA in the Americas was a loss of
$67 million
Adjusted EBITDA in International was a loss of
$3 million
In February, we issued a
$500 million floating rate term loan due December 2025 [loan rate SOFR + 2% = 6.42%].
The term loan was repaid using
$600 million senior notes at 8.375% interest. https://www.globenewswire.com/news-release/2025/05/14/3081722/14887/en/Avis-Budget-Group-Announces-Pricing-Of-600-Million-Of-Senior-Notes.html
Good luck with the debt.