Avis Budget Group, Inc. (CAR) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please note that today's conference is being recorded, and a question and answer session will follow the formal presentation. I'll now turn the conference over to David Calabria, Treasurer and Senior Vice President, Corporate Finance. Mr. Calabria, you may now begin. Good morning, everyone, and thank you for joining us. On the call with me are Joe Ferraro, our Chief Executive Officer, and Izzy Martins, our Chief Financial Officer. Before we begin, I would like to remind everyone that we will be discussing forward-looking information including potential future financial performance, which is subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from such forward-looking statements and information. Such risks and assumptions, uncertainties, and other factors are identified in our earnings release and our periodic filings with the SEC, as well as the Investors Relations section of our website. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results and any or all of our forward-looking statements may prove to be inaccurate and we make no guarantees about our future performance. We undertake no obligation to update or revise our forward-looking statements. On this call, we will discuss certain non-GAAP financial measures. Please refer to our earnings press release, which is available on our website, for how we define these measures and reconciliations to the closest comparable GAAP measures. With that, I'd like to turn the call over to Joe. Thank you, David. Good morning, everyone, and thank you for joining us today. Yesterday, we reported our first quarter results, which delivered quarterly revenue of $2.4 billion and an adjusted EBITDA loss of $93 million. Overall, travel demand...