Rental volume and pricing for both Avis Budget Group and
Hertz grew year over year in the second quarter. Avis Budget's revenue inched
up slightly to $2.34 billion, a quarterly record. Rental days rose 2 percent in
the Americas and 3 percent outside the Americas. Revenue per rental day increased
1 percent in the Americas but declined 1 percent outside of the Americas. Net
income for the quarter was $62 million, compared with $26 million in the second
quarter of 2018.
At Hertz, global revenue rose 5 percent to $2.5 billion
during the quarter. In the U.S., revenue jumped 10 percent amid a 6 percent
increase in transaction days and a 3 percent increase in pricing. Hertz noted
"strong growth" in corporate rentals and "favorable
pricing" on those rentals. Outside the U.S., transaction days declined 1
percent as pricing rose 1 percent. Hertz reported a net income of $38 million
for the quarter, up from a $63 million loss in the second quarter of 2018.
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Avis Budget Q1 earnings & Hertz
Q1 earnings