Avis Budget Group, Inc. (NASDAQ:CAR) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET
Company Participants
David Calabria - Senior Vice President, Corporate Finance and Treasurer
Joseph Ferraro - President and Chief Executive Officer
Izzy Martins - Executive Vice President and Chief Financial Officer
Conference Call Participants
Chris Woronka - Deutsche Bank
Ryan Brinkman - JPMorgan
John Babcock - Bank of America
Lizzie Dove - Goldman Sachs
Stephanie Moore - Jefferies
Operator
Greetings. Welcome to the Avis Budget Group Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.
I will now turn the conference over to David Calabria, Treasurer and Senior Vice President of Corporate Finance. Thank you. You may begin.
David Calabria
Good morning, everyone, and thank you for joining us. On the call with me are Joe Ferraro, our Chief Executive Officer; and Izzy Martins, 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 and any or all of our forward-looking statements may prove to be inaccurate and we can 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 measure, we are unable to reconcile forward-looking adjusted EBITDA to net income without unreasonable efforts given uncertainty in calculating necessary adjustments including the after-tax effect of such adjustments, which would -- could be significant.
With that, I'd like to turn the call over to Joe.
Joseph Ferraro
Thank you, David. Good morning, everyone, and thank you for joining us today. Yesterday, we reported our second quarter results, which delivered quarterly revenue of more than $3 billion and an adjusted EBITDA of $214 million. As we discussed on our last call, to accurately portray the business in this quarter and beyond, we need to bifurcate the impacts of nonrecurring fleet gains, higher vehicle interest and decisions made to rightsize our fleet.