Avis Budget Group, Inc. · NASDAQ:CAR
Avis Budget — Q1 2026 Earnings Presentation
12 slides from Avis Budget's earnings presentation, Apr 29, 2026
Slide 1: 1Q 2026 Supplemental Financials
1Q 2026 Supplemental Financials
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements in this presentation constitute “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained herein are subject to known and unknown risks, uncertainties, assumptio
Slide 3: 1Q Results: Total Company
1Q Results: Total Company 1Q ‘26 1Q ‘25 % Change REVENUES $2,530 $2,430 4% AS REPORTED RENTAL DAYS (000s) 39,078 39,455 (1)% REVENUE PER DAY $63.43 $61.59 3% EXCLUDING EXCHANGE RATE EFFECTS AVERAGE RENTAL FLEET 619,669 631,375 (2)% VEHICLE UTILIZATION 70.1% 69.4% 0.7 pps PER-UNIT FLEET COSTS PER MON
Slide 4: 1Q Results: Americas
1Q Results: Americas 1Q ‘26 1Q ‘25 % Change COMMENTARY REVENUES $1,962 $1,907 3% Overall revenue was up 3% compared to prior year, primarily due to AS REPORTED improved pricing in our core US rental car business. RENTAL DAYS (000s) 29,453 29,447 -% Volume was flat for the quarter despite weather-rel
Slide 5: 1Q Results: International
1Q Results: International 1Q ‘26 1Q '25 % Change % COMMENTARY REVENUES $520 $523 (1)% Excluding the closure of Zipcar UK in the quarter, revenue grew 2%. EXCLUDING EXCHANGE RATE EFFECTS Volume was down 4% driven primarily by the impact of restructuring RENTAL DAYS (000s) 9,625 10,008 (4)% activities
Slide 6: Liquidity Profile
Liquidity Profile 1Q ‘26 1Q ‘25 CASH FLOW COMMENTARY ADJUSTED FREE CASH FLOW $80 $(492) Adjusted free cash flow was $80 million, representing an improvement of more than $570 million versus first quarter 2025. CASH AND CASH EQUIVALENTS $528 $516 CAPITAL ALLOCATION AVAILABLE CAPACITY UNDER THE $387 $
Slide 7: Corporate Debt Maturities as of March 31, 2026
Corporate Debt Maturities as of March 31, 2026 $2,000 $1,129 $694 $693 $645 $600 $700 $600 $500 $498 2025 2026 2027 2028 2029 2030 2031 2032 USD Notes Term Loans Revolving Credit Facility Euro Notes Note: Maturity schedule amounts in millions. 7
Slide 8: 2026 Outlook
2026 Outlook FY 2026 ADJUSTED EBITDA (1) $850M - $1,000M 2Q 2026 FY 2026 PER-UNIT FLEET COSTS ~$340 ~$315 -325 PER MONTH Note: (1) We are not able to reconcile this forward-looking non-GAAP financial measure to the most directly comparable GAAP measure without unreasonable efforts because we are una
Slide 9: Appendix
Appendix 9
Slide 10: Definitions
Definitions This presentation includes certain non-GAAP (generally accepted accounting principles) financial measures as defined under SEC rules. We have provided below reasons why we present these non-GAAP financial measures and a description of what they represent. Adjusted EBITDA We define Adjust
Slide 11: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Notes: (a) Costs reported within vehicle depreciation and lease charges, net related to the disposal of certain fleet in our Americas reportable segment. (b) Consists of $1 million reported within selling, general and administrative expenses for the three months e
Slide 12: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures 12