Financial Performance - For the quarter ended September 2025, Avis Budget Group reported revenue of $3.52 billion, reflecting a 1.1% increase year-over-year [1] - Earnings per share (EPS) for the quarter was $10.11, compared to $6.65 in the same quarter last year, indicating significant growth [1] - The reported revenue exceeded the Zacks Consensus Estimate of $3.48 billion by 1.1%, while the EPS surprise was +24.66% against the consensus estimate of $8.11 [1] Key Metrics - In the Americas, per-unit fleet costs were $309 per month, lower than the estimated $343.5 [4] - Internationally, per-unit fleet costs were $285 per month, slightly below the estimated $290.8 [4] - Total rental days reached 49,400, surpassing the average estimate of 48,708.20 [4] - Geographic revenue for the International segment was $898 million, exceeding the average estimate of $843.11 million, with a year-over-year increase of 6.9% [4] - Revenue from the Americas was $2.62 billion, slightly below the average estimate of $2.64 billion, representing a year-over-year decline of 0.7% [4] Stock Performance - Shares of Avis Budget have returned -2.6% over the past month, contrasting with the Zacks S&P 500 composite's +2.5% change [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), suggesting potential underperformance relative to the broader market in the near term [3]

Core Insights - Hertz Global reported a significant operational turnaround, achieving positive Adjusted Corporate EBITDA for the first time in nearly two years, with results surpassing consensus expectations [1][5][6] - Despite improvements, the company remains overall loss-making, with GAAP revenue declining year-over-year [1][6] Financial Performance - Non-GAAP loss per share was $0.34, better than the estimated loss of $0.41, while GAAP revenue was $2,185 million, exceeding analyst estimates of $2,156.98 million but down 7.1% from $2,353 million in Q2 2024 [1][2] - Adjusted Corporate EBITDA was $1 million, a significant improvement from a loss of $460 million in the previous year [2][6] - Net loss (GAAP) narrowed from $865 million in Q2 2024 to $294 million in Q2 2025, with adjusted net loss shrinking 76% year-over-year [6] Operational Highlights - Vehicle utilization increased to 83%, up 3 percentage points from the prior year, despite a 6% drop in fleet size [2][8] - Depreciation per unit per month decreased by 57.8% to $251, well below the target of $300, supported by a younger fleet [2][7] - Direct operating expenses fell 3% year-over-year, and customer satisfaction improved, as indicated by an 11-point rise in the Net Promoter Score [9] Strategic Focus - The company is concentrating on fleet management, cost discipline, and technological upgrades, including partnerships with ride-share services and investments in digital tools [4][10] - Management plans to maintain tight fleet levels while focusing on improving utilization and margins rather than expanding volume [12] Future Outlook - Management anticipates a "sizable profit" and positive net income in the next quarter, with a target of achieving positive EBITDA over $1 billion by fiscal 2027 [12][13] - The company has secured vehicle purchases at pre-tariff prices, mitigating risks from rising vehicle costs [12]