Avis Budget Group, Inc. · NASDAQ:CAR
Avis Budget — Q2 2026 Earnings Presentation
12 slides from Avis Budget's earnings presentation, Jul 29, 2026
Slide 1: 2Q 2026 Supplemental Financials
2Q 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: 2Q Results: Total Company
2Q Results: Total Company 2Q ‘26 2Q ’25 % Change YTD 2026 YTD 2025 % Change REVENUES $2,998 $3,039 (1)% $5,528 $5,469 1% AS REPORTED RENTAL DAYS (000s) 43,907 44,945 (2)% 82,985 84,400 (2) % REVENUE PER DAY $67.84 $67.62 -% $65.76 $64.80 1% EXCLUDING EXCHANGE RATE EFFECTS AVERAGE RENTAL FLEET 664,63
Slide 4: 2Q Results: Americas
2Q Results: Americas 2Q ‘26 2Q ‘25 % Change COMMENTARY REVENUES $2,288 $2,332 (2)% As demand weakened during the quarter, we prioritized fleet discipline, AS REPORTED utilization, and higher-contribution demand over volume. RENTAL DAYS (000s) 32,597 33,292 (2)% Rental days declined 2%, materially le
Slide 5: 2Q Results: International
2Q Results: International 2Q ‘26 2Q '25 % Change COMMENTARY REVENUES $689 $707 (3)% Excluding the closure of Zipcar UK, revenue was relatively flat in the quarter. EXCLUDING EXCHANGE RATE EFFECTS RENTAL DAYS (000s) 11,310 11,653 (3)% Rental days declined 3% driven primarily by the impact of network
Slide 6: Liquidity Profile
Liquidity Profile 2Q ‘26 2Q ‘25 CASH FLOW COMMENTARY ADJUSTED FREE CASH FLOW $161 $(475) Adjusted free cash flow was $161 million, representing an improvement of more than $636 million versus the six months ended June 30, 2025. CASH AND CASH EQUIVALENTS $558 $541 CAPITAL ALLOCATION AVAILABLE CAPACIT
Slide 7: Corporate Debt Maturities as of June 30, 2026
Corporate Debt Maturities as of June 30, 2026 $2,000 $1,127 $686 $685 $200 $700 $799 $500 $600 $600 $348 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 3Q 2026 FY 2026 PER-UNIT FLEET COSTS ~$310-$320 ~$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 ar
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 $2 million and $1 million reported within selling, general, and administrative expenses for th
Slide 12: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures 12