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Sixt:Quarterly Results/2024 Q2: Difference between revisions
→Avis Budget Group
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==== Earnings call insights ==== | |||
===== Pricing ===== | |||
* '''CEO Joe Ferraro said though pricing was down 3% y/y, it improved sequentially.''' "Sequentially, pricing improved 7% quarter over quarter this year compared to only 4% over the same period last year. Denoting an accelerated improvement in price," he said. | |||
* Ferraro expects pricing to remain up in the summer and around flat for the quarter. | |||
* Ferraro said they will continue to prioritize pricing over volume. | |||
===== Used car prices ===== | |||
* Ferraro said their 2025 fleet negotiations with OEMs are ongoing but their current prices are below what they have achieved in recent years. | |||
===== Demand ===== | |||
* Ferraro said demand in Q2 was up 1% in the Americas in Q2 and that he expects this to continue. | |||
* In the European market, Ferraro said summer reservations are strong and and trending positively with demand arising from inter European cross border and international inbound travelers. | |||
* Ferraro pointed out that Europe continue to be a popular cross border destination in their reservations metrics. | |||
* In general, they expect demand in Q3 to be at the same level as in Q2. | |||
===== Interest expense ===== | |||
* CFO Izzy Martins said they expect interest expense in the second half to be similar to that of first half. | |||
===== Outlook ===== | |||
* Avis is guiding Q3 adjusted EBITDA to be in the range of $500 million and $600 million. | |||
== References == | == References == | ||