Core Viewpoint - Investors with significant losses in Avis Budget Group, Inc. have the opportunity to lead a securities fraud class action lawsuit against the company due to undisclosed financial impacts related to fleet rotation and impairment charges [1][3]. Summary by Sections Lawsuit Details - The lawsuit alleges that from February 16, 2024, to February 10, 2025, Avis failed to disclose a plan to accelerate fleet rotation, which shortened the useful life of vehicles in the Americas segment and reduced their recoverable value [3]. - As a result of this acceleration, Avis is expected to recognize billions of dollars in impairment charges and incur substantial losses, negatively impacting the company's financial results [3]. - The lawsuit claims that Avis's financial and business prospects were overstated, and positive statements made by the company were materially misleading [3]. Participation Information - Investors who suffered losses in Avis Budget Group are encouraged to contact the Law Offices of Howard G. Smith before June 24, 2025, to participate in the ongoing lawsuit [2][4]. - Interested parties can reach out via email, phone, or the law firm's website for more information regarding their legal rights [2][4].

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]

NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Avis Budget Group, Inc. (NASDAQ: CAR). Shareholders who purchased shares of CAR during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/avis-budget-loss-submission-form/?id=147119&from=3 CLASS PERIOD: February 16, ...

NEW YORK, May 05, 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 ...

Core Viewpoint - A class action lawsuit has been filed against Avis Budget Group, Inc. for misleading statements regarding its financial health and fleet management practices during the specified Class Period from February 16, 2024, to February 10, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit alleges that Avis Budget implemented a plan to accelerate fleet rotation, which shortened the useful life of its vehicles, leading to billions in impairment charges and substantial losses [5]. - It is claimed that the company's public statements regarding its financial and business prospects were materially false and misleading, resulting in investor damages when the true situation was revealed [5]. Group 2: Class Action Participation - Investors who purchased Avis Budget securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, investors can submit a form online or contact the law firm directly for more information [3][6].

NEW YORK, May 1, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Avis Budget Group, Inc. (NASDAQ: CAR).Shareholders who purchased shares of CAR during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/avis-budget-loss-submission-form/?id=146178&from=4CLASS PERIOD: February 16, 2024 to ...

NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Avis Budget Group, Inc. (“Avis Budget” or the “Company”) (NASDAQ:CAR) in the United States District Court for the District of New Jersey on behalf of all persons and entities who purchased or otherwise acquired Avis Budget securities between February 16, 2024 and February 10, 2025, both dates inclusive (the “Class Period”) ...

Core Viewpoint - Hertz Global Holdings has experienced significant volatility, including a bankruptcy due to the COVID-19 pandemic, followed by a turnaround plan that has not gained traction [1] - Investor Bill Ackman has made a substantial investment in Hertz, believing in its potential for a brighter future [1][2] Investment Details - Pershing Square disclosed the purchase of 12.7 million shares of Hertz, leading to a significant increase in Hertz's stock price [2] - Ackman sees potential in Hertz's rental car business amid tariff uncertainties, particularly due to its fleet of over 500,000 vehicles valued at approximately $12 billion [5][6] Asset Valuation - A 10% increase in used car prices could result in a $1.2 billion gain for Hertz's automotive assets, which is significant compared to its current market capitalization of $2.7 billion [6] - Ackman believes that the market undervalues Hertz's assets, although the recent stock price increase may have corrected this perception [6][10] Operational Improvements - For Hertz to realize its potential, it must achieve specific operational metrics, including revenue per unit of $1,500, daily per-vehicle operating expenses below $45, and depreciation per unit of roughly $300 [8] - The company also needs to improve fleet utilization to 85%, up from a historical average of 80% [8] Future Outlook - Ackman predicts that Hertz could reach $30 per share by 2029, with the stock currently trading below $9, indicating significant upside potential [7] - The company must rotate its fleet away from electric vehicles and reduce operating costs to improve unit revenue and margins over time [9]

Financial Data and Key Metrics Changes - Revenue for Q4 was just over $2 billion, representing a 7% year-over-year decrease largely driven by a decrease in volume [24] - Adjusted EBITDA for the quarter was a loss of $357 million [24] - Fleet utilization improved year-over-year for the first time in 2024, with a DPU (depreciation per unit) target of below $300 [25][32] Business Line Data and Key Metrics Changes - The fleet size was down 4% year-over-year in Q4, with a 7% reduction compared to the start of 2024 [18] - The company sold over 100,000 vehicles in Q4, significantly up from just over 30,000 in Q4 2023 [9] - The average fleet consisted of over 60% vehicles one year old or less by year-end 2024 [9] Market Data and Key Metrics Changes - Hertz serviced 154 million transaction days in 2024, with year-over-year utilization improving by 270 basis points from Q3 to Q4 [11] - Loyalty enrollments grew 18% year-over-year in Q4, indicating a positive trend in customer retention [21] Company Strategy and Development Direction - The company is focused on a "back to basics" roadmap anchored by three core financial pillars: fleet, revenue, and cost management [8] - A transformative fleet rotation strategy is underway, with a goal to complete it by year-end 2025 [9] - The company aims to enhance customer experience through improved service recovery and digital experiences [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged 2024 as a challenging year but expressed optimism about the foundational changes being implemented for long-term success [5] - The company expects to face a seasonal EBITDA loss in Q1 2025, with a gradual improvement throughout the year [31] - Management is confident in achieving a sub-$300 DPU by the end of 2025, supported by improved fleet management and sales strategies [40][44] Other Important Information - The company raised $500 million through the issuance of additional first lien senior secured notes due in 2029 to enhance liquidity [32] - Upcoming debt maturities are being actively planned for, with confidence in managing these obligations [33] Q&A Session Summary Question: What metrics should be used to gauge Hertz's operational progress? - Management highlighted DPU as a key metric, aiming for less than $300, along with utilization and NPS (Net Promoter Score) as critical indicators [40][42] Question: How should net DPU be expected to trend throughout the year? - Management indicated that net DPU would be inflated in Q1 but expected to decline through the year, aiming for sub-$300 by year-end [43][44] Question: What is the outlook for fleet size moving forward? - Management expects to maintain a smaller fleet while maximizing RPU (Revenue Per Unit) through improved demand capture strategies [45][46] Question: What is the medium or long-term margin target for the company? - Management suggested using North Star metrics, targeting RPU above $1,500 and DOE (Daily Operating Expense) in the low 30s [50][52] Question: How is the company addressing liquidity and cash considerations? - Management confirmed a strong liquidity position of $1.8 billion, with plans to manage cash flow through fleet rotation and operational improvements [67][70] Question: What avenues are being explored for vehicle disposals? - Management is focusing on increasing retail sales channels while reducing reliance on auctions, aiming for higher net margin sales [73][74] Question: What options are available for refinancing upcoming maturities? - Management expressed confidence in addressing refinancing needs, with ongoing discussions for the revolver due in the first half of the year [78][79]