Here is a summary of Avis Budget Group Q4 2024 results;
- Avis Budget Group Q4 2024 revenue fell 2% y/y to $2.71 billion (analysts estimate: $2.73 billion) while EPS came in at -$0.23 versus analysts estimate of -$0.96.
- The outgoing CEO Joseph Ferraro said demand was strong during the quarter and that they saw a continuation of a strong leisure demand in January.
- Pricing was down 2% y/y but improved sequentially throughout the quarter, and is expected to be down slightly in Q1 as well.
- Its vehicle depreciation and lease charges rose 37.6% y/y, a deceleration from 55.9% growth in Q3, but is expected to remain elevated in Q1.