$CAR · AVIS BUDGET GROUP, INC.
Avis Budget Group filed its Q3 FY2026 10-Q. Revenue was $3.436B, down 2.4% from $3.519B a year earlier. Net income attributable to Avis Budget Group fell to $183M ($5.15 diluted EPS) from $359M ($10.11). Nine-month results swung to a $65M attributable loss ($1.83 diluted EPS) versus a $142M loss a year ago, with vehicle depreciation and lease charges down to $1.915B from $2.369B.
- Q3 revenue $3.436B, down 2.4% from $3.519B a year earlier.
- Q3 net income attributable to Avis fell to $183M from $359M.
- Diluted EPS dropped to $5.15 from $10.11.
- Nine-month vehicle depreciation fell to $1.915B from $2.369B.
- Restructuring charges fell to $5M from $13M in Q3.
Shares rose 7.32% to $117.34 in the regular session, up 0.73% from the filing-time price of $116.49, suggesting investors read the cost discipline and margin recovery favorably despite the YoY profit decline.
Avis's Q3 shows sharply lower profit YoY but improving cost structure, a key signal for rental-car margin recovery.
Rental-car peers are benefiting from lower vehicle depreciation as used-car values stabilize, a tailwind visible in Avis's 19% YoY drop in nine-month depreciation charges.
Fleet costs remain exposed to tariffs, trade disputes, and used-vehicle price swings; the company also cites substantial debt and interest-rate sensitivity as ongoing risks.