Avis Budget Group Reports Positive Earnings and Removes an Additional $1 Billion of Expenses in Third Quarter
PARSIPPANY, N.J., Oct. 29, 2020 (GLOBE NEWSWIRE) — 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 […]
Avis Budget Group to Announce Third Quarter 2020 Results on October 29th
Conference Call to Discuss Results Scheduled for October 30th, 2020 PARSIPPANY, N.J., Oct. 13, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) announced today that it plans to report its third quarter 2020 results after the market close on Thursday, October 29th, 2020, and to host a conference call for institutional investors to discuss these […]
Avis Budget Group Announces Chief Financial Officer Transition
PARSIPPANY, N.J., Aug. 13, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today announced that John F. North III will transition from Chief Financial Officer to pursue other interests. Brian Choi will assume the role of Chief Financial Officer on August 24, 2020. As part of the transition, Mr. Choi will resign from the Avis […]
Avis Budget Group Announces Pricing of $350 Million of Senior Notes
PARSIPPANY, N.J., Aug. 04, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”), priced an offering of $350 million aggregate principal amount of 5.75% senior notes due 2027 (the “Notes”) in a private […]
Avis Budget Group Announces Intention to Offer $350 Million of Senior Notes
PARSIPPANY, N.J., Aug. 03, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”), intend, subject to market and other customary conditions, to offer $350 million aggregate principal amount of 5.75% senior notes due […]
Avis Budget Group Removes over $1 Billion in Expenses in Second Quarter to Mitigate Impacts of COVID-19
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 […]
Avis Budget Group to Announce Second Quarter 2020 Results on July 28th
Conference Call to Discuss Results Scheduled for July 29th, 2020 PARSIPPANY, N.J., July 13, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) announced today that it plans to report its second quarter 2020 results after the market close on Tuesday, July 28th, 2020, and to host a conference call for institutional investors to discuss these […]
Avis Budget Group Appoints Joe Ferraro Chief Executive Officer
Bernardo Hees Named Executive Chairman PARSIPPANY, N.J., June 15, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today announced that its Board of Directors has appointed Joe Ferraro, who has been serving as interim Chief Executive Officer, as CEO, effective immediately. The Company also announced that Bernardo Hees, who has been serving as […]
Avis Budget Group Announces Pricing of $500 Million of Senior Secured Notes
PARSIPPANY, N.J., May 05, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., priced an offering of $500 million aggregate principal amount of 10.500% senior secured notes due 2025 in a private offering, which represents a $100 million […]
Avis Budget Group Announces Intention to Offer $400 Million of Senior Secured Notes
PARSIPPANY, N.J., May 04, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., intend, subject to market and other customary conditions, to offer $400 million aggregate principal amount of senior secured notes due 2025 in a private offering. […]