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Avis Budget Group (CAR) investor relations material

Avis Budget Group Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary30 Jul, 2025

Executive summary

  • Second quarter 2025 revenue was $3.0B, net income $5M, and Adjusted EBITDA $277M, reflecting a 29% year-over-year increase, driven by sustained volume and lower fleet costs despite a slight revenue per day decline.

  • For the six months ended June 30, 2025, revenue was $5.5B, net loss $501M, and Adjusted EBITDA $184M, with losses driven by accelerated fleet disposal costs.

  • Launched Avis First, a premium rental service, and announced a multi-year partnership with Waymo for autonomous ride-hailing in Dallas.

  • Americas segment saw robust leisure demand offsetting commercial softness, with Adjusted EBITDA up 18% in Q2 2025; International Adjusted EBITDA rose 71% on stronger pricing and cost control.

  • CEO transition and new CFO appointment marked a shift in strategic focus toward innovation and premium offerings.

Financial highlights

  • Q2 2025 revenue was $3.039B, nearly flat year-over-year; net income attributable to shareholders was $4M, down from $14M.

  • Adjusted EBITDA for Q2 2025 was $277M, up 29% year-over-year; YTD Adjusted EBITDA was $184M, down 19% from prior year.

  • Diluted EPS for Q2 2025 was $0.10, compared to $0.41 in Q2 2024.

  • Per-unit fleet costs per month improved 13% year-over-year to $300 in Q2 2025.

  • Vehicle utilization increased to 70.7% in Q2 2025.

Outlook and guidance

  • FY 2025 Adjusted EBITDA expected in the range of $900M–$1,000M, with per-unit fleet costs per month projected at $310–$320 for the year.

  • Management expects further restructuring expenses of $15M and officer separation costs of $7M in 2025.

  • The company is focused on scaling premium and autonomous offerings, with long-term EBITDA targets unchanged despite macroeconomic headwinds.

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Frequently asked questions

Avis Budget Group Inc provides vehicle rental and mobility solutions through a portfolio of brands including Avis, Budget, and Zipcar. The company offers short-term vehicle rentals, car sharing, and leasing services to individual and corporate clients worldwide. Avis Budget Group operates within the transportation and consumer services sectors. The company is headquartered in Parsippany, New Jersey, and its shares are listed on the NASDAQ.

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