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I want to thank all the employees for their continued tireless efforts in helping us achieve this milestone.”Ĭertain statements in this press release constitute “forward-looking statements.” Any statements that refer to outlook, expectations or other characterizations of future events, circumstances or results, including all statements related to our future results, impacts from the COVID-19 outbreak, future travel levels, cost-saving actions, the global semiconductor shortage and liquidity and cash flows are forward-looking statements. “Our team continues to excel at managing the increased demand of our customers while supplying the outstanding service they have come to expect.

“Through enhanced revenue generation, diligent fleet management and stringent cost control, we generated another record quarter for the Company, highlighted by the Americas reporting over one billion of Adjusted EBITDA for the first time in a quarter and International achieving their highest second quarter Adjusted EBITDA ever,” said Joe Ferraro, Avis Budget Group Chief Executive Officer.

We have well-laddered corporate debt and no meaningful maturities until 2024. Our liquidity position at the end of the quarter was approximately $850 million, with an additional $1.9 billion of fleet funding capacity. Net income was $774 million and our Adjusted EBITDA was $1.2 billion, our best quarterly net income and Adjusted EBITDA in our history. Our revenues were driven by continued strong demand and increased revenue per day. We ended the quarter with revenues 37% above second quarter 2021, at $3.2 billion, making it our best quarter revenue in Company history. (NASDAQ: CAR) today announced financial results for second quarter 2022. PARSIPPANY, N.J., Aug– Avis Budget Group, Inc.