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Avis Budget Group Removes More than $2.5 billion of Costs Setting the Stage for Future Recovery

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PARSIPPANY, N.J., February 16, 2021 – Avis Budget Group, Inc. (NASDAQ: CAR) today  announced financial results for fourth quarter and full year ended December 31, 2020.  Despite revenue being down 37% for the fourth quarter compared to prior year, and a net loss  of $90 million, we generated positive Adjusted EBITDA of $74 million through disciplined cost  […]

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Avis Budget Group Reports Positive Earnings and Removes an Additional $1 Billion of Expenses in Third Quarter

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PARSIPPANY, N.J., October 29, 2020 – Avis Budget Group, Inc. (NASDAQ: CAR) today announced third quarter 2020 financial results, with Net income of $45 million and Adjusted net income of $79 million. Despite revenue being down 44% compared to the same period in the prior year, we achieved positive Adjusted EBITDA of $220 million in […]

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Avis Budget Group Removes over $1 Billion in Expenses in Second Quarter to Mitigate Impacts of COVID-19

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PARSIPPANY, N.J., July 28, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today announced second quarter 2020 financial results, with a Net loss of $481 million and an Adjusted net loss of $388 million. Total Revenues were down 67% year-over-year. Throughout the quarter, we increased the magnitude of our cost removal actions, and […]