Avis Budget Group Q1 Revenue $2.5B, Utilization Hits 70% Record
Avis Budget Group reported Q1 revenue of $2.5 billion and a net loss of $234 million, with an Adjusted EBITDA loss of $113 million. Vehicle utilization reached a first-quarter record 70% in both Americas and International, revenue per day rose 3%, and adjusted free cash flow improved by $570 million to $80 million.
1. First Quarter Financial Results
Avis Budget Group generated $2.5 billion in revenue for Q1 2026, reporting a net loss of $234 million and an Adjusted EBITDA loss of $113 million. These results reflect the impact of prior cost-control measures and fleet adjustments implemented late in 2025.
2. Operational Performance Improvements
Revenue per day, excluding currency effects, increased 3% year-over-year in both the Americas and International segments. Vehicle utilization climbed to 70% across both regions, marking the highest first-quarter rate in over fifteen years.
3. Cash Flow and Liquidity Position
Adjusted free cash flow improved by $570 million compared with Q1 2025, reaching $80 million. The company closed the quarter with $915 million of liquidity and $2.9 billion of additional fleet funding capacity, underpinning balance sheet resilience.