Avis Posts Record Q4, FY19 Revenues
In the fourth quarter of 2019, Avis Budget Group posted record revenues on improved fleet costs, utilization. Full-year revenues increased to a record $9.2 billion.
Revenues increased to a record $9.2 billion, up 2% excluding currency exchange rate movements, for a tenth consecutive year of revenue growth, year over year.
Photo via Depositphotos.
Avis Budget Group has reported record fourth quarter revenues of $2.2 billion, up 6% excluding currency exchange rate movements. Net income was $142 million, and adjusted net income was $54 million.
Revenues increased to a record $9.2 billion, up 2% excluding currency exchange rate movements, for a tenth consecutive year of revenue growth, year over year. For 2019, net income was $302 million or $3.98 per diluted share and adjusted net income was $279 million or $3.68 per diluted share.
Fourth quarter revenues increased 6% compared to prior year excluding a $19 million impact from currency exchange rate movements, primarily due to a 5% increase in rental days and a 1% increase in revenue per day, excluding exchange rate effects. Per-unit fleet costs, excluding exchange rate effects, improved by 3% and utilization improved 100 basis points.
For the quarter, net income was $142 million, or $1.90 per diluted share. Adjusted EBITDA was $143 million and adjusted net income was $54 million.
More Rental Operations
What Does It Take to Succeed in B2B Rentals?
The fundamentals may be familiar to daily car rental operators, but project-based truck rentals put different demands on the fleet and the business.
Read More →
NPR Builds on International Partnerships to Grow Rental Bookings
With Ana Laborde supporting broker development, NPR Auto Group is tailoring distribution strategies, rate packages, and partnerships to grow international reservations across its three brands.
Read More →
Advantage, Sixt Place Among Top Five in Annual Satisfaction Study
While Enterprise and National retain the top spots in JD Power’s 2026 rankings, the latest customer satisfaction results suggest renters can find competitive service beyond the biggest car rental names.
Read More →
The $100,000 Insurance Trap in Exotic Car Rentals
Exotic rental agencies often rely on customers’ personal auto policies to protect six-figure vehicles. But policy language can dramatically change the coverage for vehicles over $100,000 MSRP.
Read More →
The Booking Is Confirmed, But Is Your Customer Ready to Drive?
For international renters, a confirmed reservation doesn’t always mean they’re eligible to drive. Earlier checks can help operators catch documentation and payment issues before the customer reaches the counter.
Read More →
ICRS 2027 Opens Call for Papers
The International Car Rental Show seeks session proposals on the business, operational, and technology issues facing car rental operators. Submissions are due Jan. 15.
Read More →
Turo to Launch Vehicle Delivery Service
Turo Delivered will let travelers search for vehicles that hosts can deliver directly to hotels, homes, airports, train stations, and other locations.
Read More →
Palm Beach Airport Code Change Creates Car Rental Distribution Gap
A test of rental searches under the old PBI and new DJT airport codes returned largely different sets of brands and vehicles, highlighting a potential distribution problem for rental operators.
Read More →
U-Save Continues Dominican Republic Expansion with Launch in Punta Cana
The new franchise location builds on U-Save’s existing Santo Domingo operation and will begin taking reservations for October 2026.
Read More →
When AI Books the Rental Car, Who Controls the Sale?
As AI moves from comparing rental rates to completing transactions, operators need to understand how travelers find, interpret, rank, and ultimately see their offers. (Part 2 of 2.)
Read More →