Market Overview - The global market for Automotive Equipment Rental and Leasing was valued at US$457.1 Billion in 2024 and is projected to reach US$976.0 Billion by 2030, growing at a CAGR of 13.5% from 2024 to 2030 [1][14]. Market Trends & Drivers - The automotive equipment rental and leasing market is gaining momentum due to rising demand for flexible vehicle ownership models and cost-effective solutions [3][6]. - Consumers and businesses are increasingly opting for rental and leasing options to reduce upfront capital expenditures, particularly in urban areas where ownership costs are high [4][7]. - The growth of ride-sharing services and corporate fleets is driving the preference for leasing over purchasing, allowing for cash flow flexibility and access to the latest vehicle models [5][6]. - Key factors driving growth include shifting consumer preferences, technological advancements in fleet management, and the rise of shared mobility services [6][7]. Segment Analysis - The Passenger Car Rental segment is expected to reach US$583.1 Billion by 2030 with a CAGR of 12.9%, while the Truck, Utility Trailer, and RV Rental & Leasing segment is projected to grow at a 13.9% CAGR [11]. - The U.S. market is valued at $120.1 Billion in 2024, and China is forecasted to grow at an impressive 17.8% CAGR to reach $228.9 Billion by 2030 [11]. Tariff Impact Analysis - Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness, with the report reflecting the latest developments as of April 2025 [12][13]. - The report includes tariff-adjusted market forecasts by region and segment, analyzing cost and supply chain implications [17]. Company Profiles - The report covers key players in the market, including A-Aerial Service Company Inc., Affiliated Car Rental, Amazing RVs, American Dream Vacations, and Avis Budget Group, Inc. [16][21].

Core Viewpoint - A class action securities lawsuit has been filed against Avis Budget Group, Inc. alleging securities fraud that negatively impacted investors between February 16, 2024, and February 10, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that Avis Budget implemented a plan to significantly accelerate its fleet rotation in Q4 2024, which shortened the useful life of most vehicles in the Americas segment [2]. - This acceleration is alleged to have led to billions of dollars in impairment charges and substantial losses for the company [2]. - The financial and business prospects of Avis Budget were reportedly overstated, and the public statements made by the defendants were materially false and misleading [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until June 24, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Avis Budget Group, Inc. ("Avis Budget" or the "Company") (NASDAQ: CAR) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Avis Budget investors who were adversely affected by alleged securities fraud between February 16, 2024 and February 10, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/avis-budge ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File No. 001-10308 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (973) 496-4700 (Registrant's telephone number, including area code) Securities registered pursuant to Sect ...

Financial Data and Key Metrics Changes - The company reported quarterly revenue of $2.4 billion, down from $2.5 billion in Q1 2024, reflecting a year-over-year decline driven by calendar shifts and a 2% decrease in pricing [5][31] - Adjusted EBITDA loss was $93 million compared to a positive $12 million in Q1 2024, marking a $105 million year-over-year change [30][35] - Total net debt leverage ratio remained stable at around 5x, with approximately $1.1 billion in available liquidity as of March 31 [36][37] Business Line Data and Key Metrics Changes - The Americas segment generated over $1.9 billion in revenue with an adjusted EBITDA loss of $67 million, reflecting a 4% decrease in revenue on a constant currency basis [9][17] - International segment revenues were $523 million with an adjusted EBITDA loss of $3 million, showing a year-over-year improvement of $12 million due to better pricing and cost discipline [19][20] Market Data and Key Metrics Changes - In the Americas, vehicle utilization improved nearly four points year-over-year, reaching nearly 70% for the quarter [11][12] - International utilization was 69%, up more than two points compared to the first quarter of 2024 [21] Company Strategy and Development Direction - The company is focused on an accelerated fleet rotation strategy, achieving a record number of vehicle disposals and accepting deliveries of model year 2025 vehicles [6][18] - The strategy aims to maintain fleet discipline, optimize costs, and enhance customer experience through technology investments [8][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about leisure travel demand, with forward bookings up year-over-year, despite a pullback in commercial demand [16][66] - The company anticipates adjusted EBITDA in Q2 to exceed $200 million, supported by improved pricing and operational efficiencies [39][40] Other Important Information - The company is navigating uncertainties related to automotive tariffs and their potential impact on fleet costs and vehicle pricing [14][16] - Management emphasized the importance of flexibility in fleet management to adapt to changing demand conditions [93] Q&A Session Summary Question: What operational strategies are in place to maintain higher utilization rates? - Management highlighted the importance of fleet planning and operational efficiencies to optimize vehicle utilization while meeting demand [43][46] Question: How are tariffs impacting fleet plans for model year 2026 vehicles? - Management noted ongoing discussions with OEMs and emphasized flexibility in fleet size and vehicle selection based on market conditions [49][52] Question: What is the competitive landscape like in the Americas? - Management indicated that the competitive environment remains intense but stable, with a focus on execution and operational efficiency [56][58] Question: What gives confidence in achieving the long-term adjusted EBITDA target? - Management cited strong leisure demand, improved fleet management, and operational agility as key factors supporting their outlook [66][70] Question: How is the company balancing buybacks versus deleveraging? - Management reiterated a balanced approach, prioritizing deleveraging while also investing in capital expenditures that drive operational efficiencies [81][84]

Financial Data and Key Metrics Changes - The company reported quarterly revenue of $2.4 billion, down from $2.5 billion in Q1 2024, reflecting a year-over-year decrease of 4% [4][32] - Adjusted EBITDA loss was $93 million compared to a positive $12 million in Q1 2024, marking a $105 million year-over-year change [31][32] - Total net debt leverage ratio remained stable at around 5x, with approximately $1.1 billion in available liquidity as of March 31 [36][37] Business Line Data and Key Metrics Changes - The Americas segment generated over $1.9 billion in revenue with an adjusted EBITDA loss of $67 million, reflecting a 4% decrease in revenue on a constant currency basis [8][19] - International segment revenues were $523 million with an adjusted EBITDA loss of $3 million, showing a year-over-year improvement of $12 million [19][20] Market Data and Key Metrics Changes - In The Americas, vehicle utilization improved nearly four points year-over-year, reaching nearly 70% for the quarter [11][12] - International utilization was 69%, up more than two points compared to Q1 2024 [21] Company Strategy and Development Direction - The company is focused on an accelerated fleet rotation strategy, achieving a record number of vehicle disposals and accepting deliveries of model year 2025 vehicles [5][18] - Investments in technology are aimed at enhancing customer experience, revenue generation, and operational efficiencies [7][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about leisure demand growth, with forward bookings up over the prior year, despite a pullback in commercial demand [15][38] - The company anticipates adjusted EBITDA in Q2 to exceed $200 million, driven by improved pricing and operational agility [39][40] Other Important Information - The company is navigating uncertainties related to automotive tariffs and their potential impact on fleet costs and vehicle pricing [14][15] - Management emphasized the importance of maintaining fleet flexibility to adapt to changing demand conditions [16][39] Q&A Session Summary Question: What operational strategies are in place to maintain higher utilization rates? - Management highlighted the importance of fleet planning and operational efficiencies to optimize vehicle utilization while meeting demand [44][46] Question: How might rising vehicle prices impact fleet plans for model year '26 vehicles? - Management noted that flexibility in fleet size and strategic modeling will help navigate the evolving tariff environment and vehicle pricing [49][52] Question: What is the competitive landscape like in The Americas? - Management indicated that the competitive environment remains intense but stable, with a focus on execution and operational excellence [56][58] Question: What gives confidence in achieving the long-term adjusted EBITDA target? - Management pointed to strong advanced reservations and a favorable used car market as indicators of potential success [66][70] Question: How is the company balancing buybacks versus deleveraging? - Management stated a balanced approach is being taken, prioritizing deleveraging while also investing in capital expenditures that drive operational efficiencies [82][84]

Financial Performance - For the quarter ended March 2025, Avis Budget Group reported revenue of $2.43 billion, down 4.7% year-over-year [1] - EPS for the quarter was -$14.35, compared to -$3.21 in the same quarter last year, indicating a significant decline [1] - The reported revenue was below the Zacks Consensus Estimate of $2.52 billion, resulting in a surprise of -3.62% [1] - The company experienced an EPS surprise of -150.87%, with the consensus EPS estimate being -$5.72 [1] Key Metrics - Avis Budget's shares returned +54.8% over the past month, outperforming the Zacks S&P 500 composite's +10.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3] Operational Metrics - Americas - Per-Unit Fleet Costs per Month: $378, better than the three-analyst average estimate of $401.5 [4] - International - Per-Unit Fleet Costs per Month: $273, compared to the three-analyst average estimate of $300.8 [4] - International - Rental Days: 10,008 Days, below the three-analyst average estimate of 10,542.26 Days [4] - Americas - Revenue per Day, excluding exchange rate effects: $64.92, slightly below the three-analyst average estimate of $65.86 [4] - Americas - Vehicle Utilization: 69.6%, exceeding the 68.1% average estimate based on three analysts [4] - Total - Average Rental Fleet: 631,375, compared to the 654,009 estimated by three analysts [4] Geographic Revenue - Geographic Revenue - International: $523 million, below the three-analyst average estimate of $559.88 million, representing a -6.3% change year-over-year [4] - Geographic Revenue - Americas: $1.91 billion, compared to the $1.96 billion average estimate based on three analysts, reflecting a -4.3% change year-over-year [4]

Group 1 - Avis Budget Group reported a quarterly loss of $14.35 per share, significantly worse than the Zacks Consensus Estimate of a loss of $5.72, and compared to a loss of $3.21 per share a year ago, indicating an earnings surprise of -150.87% [1] - The company posted revenues of $2.43 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 3.62%, and down from $2.55 billion in the same quarter last year [2] - Over the last four quarters, Avis Budget has surpassed consensus EPS estimates only once, indicating challenges in meeting market expectations [2] Group 2 - The stock has increased by approximately 20.7% since the beginning of the year, contrasting with a -4.7% decline in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $2.63 on revenues of $3.1 billion, and for the current fiscal year, it is $8.89 on revenues of $11.91 billion [7] - The Zacks Industry Rank places the Transportation - Services sector in the bottom 37% of over 250 Zacks industries, suggesting potential headwinds for stock performance [8]

Avis Budget Group Reports First Quarter Results PARSIPPANY, N.J., May 7, 2025 - Avis Budget Group, Inc. (NASDAQ: CAR) announced financial results for first quarter 2025 today. We ended the quarter with revenues of $2.4 billion, net loss of $505 million, and an Adjusted EBITDA loss of $93 million. 1 During the first quarter, as anticipated, we recorded a non-cash fleet charge of $390 million related to the disposition of certain vehicles within the Americas. We do not expect further charges related to our ac ...

Core Insights - Avis Budget Group, Inc. reported a revenue of $2.4 billion for Q1 2025, a decrease of 5% compared to Q1 2024, with a net loss of $505 million and an Adjusted EBITDA loss of $93 million [1][16][20]. Financial Performance - The company recorded a non-cash fleet charge of $390 million related to the disposal of certain vehicles within the Americas [2]. - Adjusted EBITDA in the Americas was a loss of $67 million, driven by decreased revenue and higher fleet costs, partially offset by increased vehicle utilization compared to Q1 2024 [8][20]. - International Adjusted EBITDA showed a loss of $3 million, an improvement from a loss of $15 million in the same period last year, attributed to stronger pricing and decreased fleet costs [8][20]. Operational Highlights - The company made significant progress on its fleet rotation strategy, disposing of a record number of vehicles, which is expected to improve vehicle costs sooner than anticipated [3]. - Advanced reservations are trending positively, and the company plans to monitor demand trends closely while adjusting its fleet accordingly [3]. Liquidity and Financing - As of the end of Q1 2025, the company's liquidity position was over $1.1 billion, with an additional $3 billion of fleet funding capacity [8]. - In February, Avis Budget issued a $500 million floating rate term loan due December 2025, primarily to pay down fleet indebtedness [8]. Key Metrics - Rental days decreased by 1% to 39,455, while revenue per day fell by 3% to $61.59 [22]. - Vehicle utilization improved to 69.4%, up from 65.9% in the previous year [22]. - Per-unit fleet costs increased by 10% to $351 per month [22].