Avis Budget Q3 results fall short of expectations

On November 5, 2026, Business Travel News reported that Avis Budget Group's third-quarter adjusted EBITDA was about $50 million below the company's expectations, with revenue exceeding $3.4 billion, down 2% year over year. The company said it reduced its fleet and prioritized longer rentals and contracted commercial customers, causing revenue per day in the Americas to fall about 1% year over year, while a higher share of commercial customers further reduced it by 0.4%. Third-quarter net income was $183 million, down from $359 million in the prior-year period; the Americas fleet shrank 6% to about 510,800 vehicles, and vehicle utilization rose to 74.1%. The report said the company is shifting toward a leisure long-rental strategy.