![]() We will host a conference call to discuss the Company's third quarter results on November 2, 2021, at 8:30 a.m. We redeemed $235 million of our 5.25% Senior Notes due March 2025 with cash on hand. We repurchased approximately 11.6 million shares of common stock in the third quarter at an average cost of $86, bringing our outstanding share count down by 16% from June 30, 2021. ![]() Total Company revenues increased by 96% and 9% compared to third quarter 20, respectively.Īdjusted EBITDA in the Americas was $952 million for the third quarter 2021 driven by strong pricing and sustained cost discipline.Īdjusted EBITDA in International was $128 million for the third quarter 2021 driven by pricing and volume beginning to recover along with strong cost mitigating actions. “We are seeing the benefits of initiatives we began during the early days of the pandemic and look to build on this positive momentum as the travel environment continues to normalize.” “Our third quarter results are a testament to our team’s on-going focus around cost discipline and ability to execute operationally,” said Joe Ferraro, Avis Budget Group Chief Executive Officer. We have well-laddered corporate debt and no meaningful maturities until 2024. Our liquidity position at the end of the quarter was approximately $1.3 billion with an additional $2.7 billion of fleet funding capacity. Utilization for the quarter was 71.6%, showing sequential quarter improvement and that our fleet was well positioned to meet demand. ![]() Net income was $674 million and our Adjusted EBITDA was $1,057 million, our best quarterly Adjusted EBITDA in our Company's history. Our revenues were driven by increased revenue per day and rental days as demand continued from the second quarter. We ended the third quarter with revenues almost double the prior year and 9% above the third quarter 2019, at $3.0 billion. ( NASDAQ: CAR) today announced its third quarter 2021 financial results. 01, 2021 (GLOBE NEWSWIRE) - Avis Budget Group, Inc. ![]()
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