Avis Budget Group Q2 2025 Earnings Call Transcript: David Calabria, Brian Choi, Daniel Cunha

Avis Budget Group reported Q2 2025 earnings, with CEO Brian Choi and CFO Daniel Cunha participating in the call. Treasurer David Calabria discussed forward-looking information, cautioning that actual results may differ from such statements. The company's financial performance in Q2 2025 was not specified in the transcript.

Avis Budget Group, Inc. (NASDAQ: CAR) announced its second-quarter 2025 financial results today, highlighting a mix of performance metrics and strategic initiatives. The company reported revenues of $3.0 billion, net income of $5 million, and Adjusted EBITDA of $277 million. CEO Brian Choi and CFO Daniel Cunha participated in the earnings call, while Treasurer David Calabria discussed forward-looking information, cautioning that actual results may differ from projected statements [1].

Revenue was stable at $3.0 billion, with revenue per day, excluding exchange rate effects, down 1%. Rental days remained flat compared to the second quarter of 2024. Adjusted EBITDA in the Americas increased to $220 million, driven by lower fleet costs and improved vehicle utilization. International Adjusted EBITDA grew to $82 million, primarily due to stronger pricing and decreased fleet costs, slightly offset by a decrease in rental days. The company also reported a significant liquidity position of nearly $950 million, with an additional $1.7 billion of fleet funding capacity [1].

Strategic initiatives were a key focus for Avis Budget Group during the quarter. The company launched Avis First, a premium product offering that includes frictionless curbside pick-up and drop-off, a dedicated concierge, and premium current-model-year vehicles. Additionally, Avis Budget Group announced a multi-year partnership with Waymo to launch fully autonomous ride-hailing operations in Dallas, Texas. Avis will serve as a mobility operations partner, providing end-to-end fleet management services [1].

The company also reported significant financial transactions. In May, Avis Budget Group issued $600 million of unsecured Senior Notes, which were used to repay outstanding borrowings under a secured floating rate term loan due in 2025 and a portion of unsecured Senior Notes due in 2027. In July, the company amended its $1.1 billion floating rate term loan, extending its maturity date from August 2027 to July 2032 [1].

Despite the mixed results, Avis Budget Group remains optimistic about its future prospects. The company is focused on scaling its operations and taking a leading role in the evolving mobility ecosystem. However, investors should be mindful of the risks and uncertainties that could impact the company's performance, including competition, changes in fleet costs, and volatility in travel demand [1].

References:
[1] https://ir.avisbudgetgroup.com/news-releases/news-release-details/avis-budget-group-reports-second-quarter-results-2