AVIS BUDGET GROUP, INC. 8K

Avis Budget Group announced Q2 2026 results with $3.0 billion in revenue, $63 million in net income, strong Adjusted EBITDA and utilization, and completed multiple refinancing and funding transactions while launching an autonomous vehicle partnership with Waymo in Dallas.

Avis Budget Group, Inc. reported its financial and operating results for the second quarter ended June 30, 2026, disclosing revenues of approximately $3.0 billion, net income of $63 million, and Adjusted EBITDA of $286 million, alongside improved vehicle utilization and lower per-unit fleet costs versus the prior year. The company highlighted operational actions to resize its fleet in response to changing booking trends, record second-quarter utilization in the Americas, and the launch of an autonomous vehicle partnership with Waymo in Dallas beginning June 1, 2026. Avis also undertook significant capital structure actions, including issuing $300 million of add-on unsecured senior notes due 2031 to repay a portion of unsecured senior notes due 2027, refinancing its existing $2 billion senior revolving credit facility with a new $2 billion facility maturing in June 2031, and establishing an additional $200 million senior revolving credit facility maturing in June 2028. The company ended the quarter with total liquidity of about $1.0 billion plus $1.9 billion of fleet funding capacity and provided extensive non-GAAP reconciliations and key operating metrics, while cautioning investors with detailed forward-looking statements and risk factor disclosures.

Filing Facts

CIK

723612

Ticker

-

Form

8K

Source Type

sec

Accession

0000723612-26-000037

Alert Tier

6