Nov 3, 4:03 PM ET
Avis Budget Group reported third quarter 2026 revenue of $3.4 billion, down 2% from a year earlier, and net income attributable to the company of $183 million, down 49%. Adjusted EBITDA fell 8% to $513 million, and diluted earnings per share were $5.15 versus $10.11 a year earlier, though the company said Americas vehicle utilization hit a third-quarter record.
- Q3 revenue $3.4 billion ($3,436 million) vs. $3,519 million in Q3 2025; Adjusted EBITDA $513 million vs. $559 million
- Diluted EPS $5.15 vs. $10.11 a year earlier; net income attributable to the company $183 million vs. $359 million
- Total Company vehicle utilization 74.0%, up 2.0 points; Americas utilization 74.1%, both third-quarter record highs
- Received $650 million from Pentwater Capital Management settlement on October 5, to be recognized in Q4; redeeming remaining $350 million of 5.750% Senior Notes due 2027
Read the filing on SEC.gov ↗
Nov 2, 4:05 PM ET
Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., wholly-owned subsidiaries of Avis Budget Group, Inc., sent notice on November 2, 2026 that they will redeem all $350 million of their outstanding 5.750% Senior Notes due July 2027. The notes will be repaid in full on December 30, 2026 at 100% of principal plus accrued and unpaid interest. The filing is a debt repayment notice that does not report any change to earnings or guidance.
- Redemption of all $350 million aggregate principal of 5.750% Senior Notes due July 2027
- Redemption price is 100% of principal amount, plus accrued and unpaid interest to the Redemption Date
- Redemption Date is December 30, 2026
Read the filing on SEC.gov ↗
Sep 24, 4:16 PM ET
On September 21, 2026, Avis Budget Group subsidiary Avis Budget Rental Car Funding (AESOP) LLC issued $650 million of asset-backed notes maturing in five years, secured by vehicles in its domestic fleet and related assets. The filing describes the notes as new direct financial obligations, and it does not state how the proceeds will be used.
- Notes total $650 million across Class A, B, C and D tranches, with coupons from 5.69% to 8.14%
- Class A notes total $474.5 million at 5.69%; Class D notes total $66.625 million at 8.14%
- Subordinated Class R notes of $35.75 million at 9.598% were issued for U.S. risk retention rules and are held by AESOP Leasing L.P.
- Notes were issued under a Series 2026-5 Supplement with The Bank of New York Mellon Trust Company, N.A. as trustee
Read the filing on SEC.gov ↗
Sep 1, 4:17 PM ET
Avis Budget Group announced that Ravi Simhambhatla, Executive Vice President and Chief Digital & Innovation Officer, will leave the company. He will stay in his current role until September 30, 2026 to ensure a smooth transition. The filing contains no financial results or replacement details.
- Ravi Simhambhatla, Executive Vice President and Chief Digital & Innovation Officer, is leaving the company
- He remains in his current position until September 30, 2026
- Company says he served for the past four years
- Filing does not name a successor
Read the filing on SEC.gov ↗
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