Avis Budget Group reports Q2 2026 earnings and fleet updates

Avis Budget Group announced its second‑quarter 2026 financial results. Revenue reached $3.0 billion, net income was $63 million and Adjusted EBITDA stood at $286 million. Earnings per share came in at $0.98, missing analysts’ consensus estimate of $2.05. Total company vehicle utilization rose to 72.6%, with a record‑high 73.2% in the Americas. Per‑unit fleet costs fell 4% to $290 per month.

The company highlighted its autonomous‑vehicle partnership with Waymo, which began operations in Dallas on June 1 and completed thousands of trips in its first month. In May, Avis issued $300 million of add‑on unsecured senior notes due 2031 and used June proceeds to partially repay senior notes due 2027. It also refinanced its existing $2 billion revolving credit facility with a new $2 billion facility maturing in June 2031 and added a $200 million facility maturing in June 2028. Liquidity at quarter‑end was about $1 billion, with an additional $1.9 billion of fleet‑funding capacity.