Avis Budget reports Q3 EPS $16.78, consensus $14.16

Reports Q3 revenue $3.56B, consensus $3.59B…”We ended the quarter with revenues of $3.6 billion, driven by peak demand and seasonal revenue per day increases. Net income was $627 million and our Adjusted EBITDA was $907 million.Our liquidity position at the end of the quarter was approximately $1.0 billion, with an additional $1.1B of fleet funding capacity. We have well-laddered corporate debt with no meaningful maturities until mid-2025.”We had record volume in the Americas with anticipated seasonal price improvements transitioning from the second to the third quarter,” said Joe Ferraro, Avis Budget Group Chief Executive Officer. “October started off strong and we expect it to continue throughout the holiday season. I want to thank our employees for their ability to provide exceptional service while managing through our record volumes, and I look forward to closing out another successful year.”