Call Start: 08:30 January 1, 0000 9:48 AM ET
Avis Budget Group Inc. (NASDAQ:CAR)
Q3 2023 Earnings Conference Call
November 2, 2023 08:30 ET
Company Participants
David Calabria - SVP of Corporate Finance & Treasurer
Joe Ferraro - CEO
Brian Choi - CFO
Conference Call Participants
Hans Hoffman - Jefferies
Chris Woronka - Deutsche Bank
Ryan Brinkman - JP Morgan
Operator
Good day, everyone and welcome to the Avis Budget Group’s Third Quarter 2023 Conference Call. [Operator Instructions] It is now my pleasure to turn today’s call over to David Calabria, Treasurer and Senior Vice President of Corporate Finance.
David Calabria
Good morning, everyone and thank you for joining us. On the call with me are Joe Ferraro, our Chief Executive Officer; and Brian Choi, our Chief Financial Officer.
Before we begin, I would like to remind everyone that we will be discussing forward-looking information including potential future financial performance which is subject to risks, uncertainties and assumptions that could cause actual results to differ materially from such forward-looking statements and information. Such risks and assumptions, uncertainties and other factors are identified in our earnings release and other periodic filings with the SEC, as well as the Investor Relations section of our website. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results in any or all of our forward-looking statements may prove to be inaccurate and we make no guarantees about our future performance. We undertake no obligation to update or revise our forward-looking statements.
On this call, we will discuss certain non-GAAP financial measures. Please refer to our earnings press release which is available on our website for how we define these measures and reconciliations to the closest comparable GAAP measures.
With that, I'd like to turn the call over to Joe.
Joe Ferraro
Thank you, David. Good morning, everyone. And thank you for joining us today. Yesterday, we reported our third quarter results which delivered a record quarterly revenue of $3.6 billion [ph] and adjusted EBITDA of over $900 million. We all went into this quarter understanding that certain market dynamics of the third quarter of 2022 would not be tailwinds this year. However, our team was able to remain focused on cost discipline while delivering on record customer demand which produced earning results that I am incredibly proud. I'd like to thank all our employees across the world contributing to this achievement and demonstrating operational excellence throughout the year.