<\/p>\n
October started off strong for Avis Budget Group and it expects to continue throughout the holiday season.<\/p>\n
Graphic: Avis Budget Group \/ Bobit<\/p>\n
Avis Budget Group, Inc. ended the third quarter with revenues of $3.6 billion, driven by peak demand and seasonal revenue per day increases, according to company financial results announced Nov. 1.<\/p>\n
Net income was $627 million and adjusted EBITDA was $907 million.<\/p>\n
The company’s liquidity position at the end of the quarter was about $1 billion, with an additional $1.1 billion of fleet funding capacity. Avis Budget Group has well-laddered corporate debt with no meaningful maturities until mid-2025.<\/p>\n
“We had record volume in the Americas with anticipated seasonal price improvements transitioning from the second to the third quarter,” said Joe Ferraro, Avis Budget Group CEO, in a news release. “October started off strong and we expect it to continue throughout the holiday season.”<\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"