Avis Budget Group reported $513 million in third-quarter adjusted EBITDA, about $50 million below expectations, as travel demand weakened. Better fleet use and slightly higher rental prices, plus its roughly $850 million full-year forecast, offer support but do not erase the quarterly miss.
Fewer travelers left Avis with less business than it expected, especially in August. Better fleet use, slightly higher rental prices, and cost cuts support its full-year forecast, but the demand drop and missed quarterly target weigh more.
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