Companies /Industrials

Avis Budget Group Inc

NASDAQ: CAR Rental & Leasing Services
$137.84
▼ $2.86 (−2.03%) today
Markets closed · 2:18am ET

Q4 2025 Earnings

Reported Feb 18, 2026, 4:02pm ET · SEC source
$-21.25
Miss −11,014.02%
EPS · est. $-0.19
$2.7B
Miss −2.65%
Revenue · est. $2.7B
+15.2%
Beating market
CAR vs S&P since report
2 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−18%−9%0+9%Feb 18Feb 19report 4:02pm ETearnings−0.2%−14.8%
−18%−9%0+9%Feb 18Feb 19earnings−0.2%−14.8%
CAR −14.8%S&P 500 −0.2%
−18%−9%0+9%Feb 18Feb 19report 4:02pm ETearnings−0.3%−14.8%
−18%−9%0+9%Feb 18Feb 19earnings−0.3%−14.8%
CAR −14.8%NASDAQ −0.3%
−20%0+20%Feb 17Feb 26report 4:02pm ETearnings+0.5%−8.8%
−20%0+20%Feb 17Feb 26earnings+0.5%−8.8%
CAR −8.8%S&P 500 +0.5%
−20%0+20%Feb 17Feb 26report 4:02pm ETearnings+0.7%−8.8%
−20%0+20%Feb 17Feb 26earnings+0.7%−8.8%
CAR −8.8%NASDAQ +0.7%
−21.54%
Day of report
−0.28%
Next session
−0.21%
One week
+10.90%
30 days

S&P 500 over the same 30 days: −4.25%.

Did CAR Beat Earnings? Q4 2025 Results

Avis Budget Group delivered a deeply disappointing fourth quarter for fiscal 2025, with earnings collapsing far below expectations as a $518.00 million impairment charge tied to the accelerated rotation of its U.S. electric vehicle rental fleet drove a net loss of $856.00 million. The company posted an EPS of -$21.25, missing the consensus estimate of -$0.23 by a staggering 8946.40%, while revenue of $2.66 billion fell 2.96% short of the $2.75 billion estimate and declined 1.7% year-over-year. The EV write-down, connected to a strategic fleet restructuring and the Interpace Ventures transaction, proved the dominant story, overwhelming otherwise encouraging signals like an 18% decline in per-unit fleet costs and Adjusted EBITDA swinging to a positive $5.00 million from a loss of $101.00 million a year prior. Shares have shed roughly 21.8% since the February release, reflecting investor unease. CEO Brian Choi acknowledged the turbulence but pointed toward 2026, framing tighter fleet discipline and a projected Adjusted EBITDA of $800.00 million to $1.00 billion as evidence the repositioning is gaining traction.

Key Takeaways
  • Lower per-unit fleet costs drove Adjusted EBITDA improvement in both Americas and International segments
  • Revenue per day excluding exchange rate effects declined 2% year-over-year
  • Rental days declined 1% year-over-year
  • Vehicle utilization improved slightly to 68.0% from 67.7%
  • $518 million EV impairment charge from shortened useful life of certain U.S. electric vehicles

“As we enter 2026, we've repositioned the business and turned a challenging fourth quarter into a catalyst for meaningful change. We are tightening fleet discipline, strengthening our balance sheet, and raising the bar on customer experience to drive sustainable earnings growth.”

Avis Budget Group CEO, on the earnings call

Forward Guidance & Outlook

CEO Brian Choi indicated the company has repositioned the business heading into 2026, focusing on tightening fleet discipline, strengthening the balance sheet, and raising the bar on customer experience to drive sustainable earnings growth.

CAR YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$1.0B$2.0B$2.7B$2.7BRevenue$-461,538,462$-747,000,000Net Income
$0$1.0B$2.0BRevenueNet Income

CAR Revenue by Segment

Americas$2.0B−4.0%
International$624.0M+5.0%

CAR Revenue by Geography

Americas
Rest of World
International

Figures from SEC filings and company reports. Not investment advice.