Hertz's Q3 earnings are up 12% year over year, yet car sales gains came in lower as residual values declined steeper than expected.
Compared to the same period last year, Sixt has increased its consolidated revenue by 59.4% to €1.32 billion, the strongest first half of the year in the company’s history for revenue.
In the Americas segment, Hertz finished with 422,113 average vehicles in its fleet, a 21% gain over the second quarter of 2021, while depreciation per unit fell 36% to only $49 a vehicle.
Both rental car companies plan to report their second quarter 2022 financial results in the next few weeks.
RateGain, a provider of SaaS solutions for the travel industry, experienced strong growth due to a demand for technology-enabled solutions. In the car rental industry, RateGain’s revAI product helps with automation and revenue maximization.
This quarter’s revenue was also 27% higher than the same period 2019, the last normalized quarter.
Revenues were 78% higher than the fourth quarter of 2020 yet were 9% below the fourth quarter of 2019. Adjusted corporate EBITDA of $628 million for the quarter was a record for the company.
Avis Budget Group was able to pivot to meet rapidly changing conditions last year. Can Avis and the rest of the industry manage what’s ahead in 2022?
Avis Budget Group’s adjusted EBIDTA of $683 million in the fourth quarter of 2021 was its best in the company’s history. Full-year revenues beat 2019 by 2%.
For the quarter, Avis recorded more than $1 billion in adjusted EBITDA, its best adjusted EBITDA in company history. Stock surges on Avis's electrification intent.
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