Avis Budget

Q2 FY2026 EarningsQ2 FY26 results missed consensus on the top line but demonstrated resilience in earnings despite volume headwinds. Revenue of $3.00B was slightly below the $3.10B expected (-3.21% variance), primarily due to a 2% decrease in volume. However, GAAP EPS of $0.98 significantly beat the consensus mean of $1.85 (though comparison is skewed by complex non-controlling interest allocations). Adjusted EBITDA improved YoY to $286M, driven by a reduction in per-unit fleet costs and gains on vehicle sales, particularly in the Americas segment.