Fleet Operations Associate - Autonomous Vehicles

What Could send Avis Budget stock higher? October 21st, 2026 · by Trefis Team CARYTD-23.3% SPYYTD+14.0% XLIYTD+9.1% For questions about this article or underlying research, email [email protected]. Shares of Avis Budget (CAR) have fallen 85.7% from their April high. That peak was brief, with the stock dropping 38% and then 48% over the next two trading days. The company's total debt equals 805% of its market value, compared with 19.7% for the S&P 500. Management expects a large cash payment by year-end, however, and has said part of that money will pay off debt. So where is that cash coming from, and how sure is it? Avis Budget Expects $650 Million From Pentwater On the company's July 29, 2026 call, management said Pentwater agreed to pay Avis Budget $650 million in cash under a settlement related to short-swing profits. Management expects the matter to be resolved by year-end. The deal still needs final court approval. Management has also outlined what part of the cash is for. In May, Avis Budget used new notes due in 2031 to cut its notes due in 2027 from $650 million to $350 million. The company plans to retire that remainder by year-end with part of the Pentwater proceeds. Questions like this one test every retirement plan. If your advisor recently retired, it is a good moment for a free second opinion from our partner firm. Is $650 Million Enough To Bring Avis Budget's Leverage Down? Not on its own. The payment equals about 18% of Avis Budget's $3.6 billion market value, a large sum for a company of its size. Against total debt of $29.1 billion, however, it comes to about 2%. Management's leverage goal counts only net corporate debt, which is a smaller part of that total. The business has to help. Higher earnings lower the leverage ratio management is targeting just as repaying debt does. The company's net corporate leverage ratio, measuring debt against adjusted EBITDA, stood at 7.4 times on the July call. Management expects to cut it by at least a full turn by the end of 2026, and reiterated its full-year adjusted EBITDA guide of $850 million to $1 billion. The business is moving the right way so far. Avis Budget reported operating income of $572 million over the twelve months to June 2026, compared with an operating loss of $170 million a year earlier. The shares have not followed. Over the year to October 20, 2026, they lost 31.9% while the S&P 500 returned 17.1%. What Could Keep Avis Budget's Leverage High? Soft travel demand and car recalls are the risks to those earnings. On the July call, management said strategic accounts declined 10% from a year earlier, dropping more than the company had planned. In June, TSA check-ins also fell 1.3% from a year earlier. Recalls added to the pressure. Three carmakers notified Avis Budget of new recalls in April 2026, leaving about 18,000 of its vehicles grounded in total. Management put the direct cost of recalls in 2026 at more than $50 million up to the July call, before lost profit. Even so, management expects adjusted EBITDA to grow from a year earlier in the third quarter, the period Avis Budget reports next. The Pentwater cash is agreed upon and waits only on the court, while the earnings needed to bring leverage down must arrive despite softer travel and grounded cars. Avis Budget's third-quarter adjusted EBITDA is the number to watch in its next report, expected on or around November 3, 2026. Your Advisor Retired? Get A Second Opinion Before You Settle Avis Budget holders are waiting for something new to move the stock. When the advisor who built your plan moves on, it is a natural moment to ask whether the plan still fits the life you have now. Our partner advisory firm offers a free review of your holdings, fees and income plan.

Cargo Airline Association appoints Josh Dover as Managing Director for Legislative Affairs. * The Cargo Airline Association has announced the latest appointed of Josh Dover, as Managing Director for Legislative Affairs. * Dover brings more than 15 years of experience in government affairs, with strong relationships across Washington, to progress the association's advocacy. * Dover has joined from Avis Budget Group having previously served as Legislative Director for Congresswoman Colleen Hanabusa (D-Hawaii) and Legislative Assistant to Congressman Dale Kildee (D-Michigan). The Cargo Airline Association (CAA) has announced the appointment of Josh Dover as Managing Director for Legislative Affairs. Dover brings more than 15 years of experience in government affairs, aviation and transportation policy, legislative and regulatory strategy and stakeholder engagement. In his new role, Dover will lead CAA's legislative and government affairs efforts and work closely with members, policymakers and industry stakeholders to advance policies that support the safety, security, efficiency and competitiveness of the U.S. air cargo industry. "Josh brings deep aviation experience, strong relationships across Washington and a proven record of advancing sound policy priorities. His experience working with Congress, the Administration, federal agencies and industry partners will be a tremendous asset to CAA and our members. We are excited to welcome Josh to the team," Lauren Beyer, President of the CAA said. Dover joins CAA from Avis Budget Group, where he served as Vice President of Government Affairs and led the company's public policy efforts. In that role, he worked with policymakers at the federal, state and local levels, built coalitions with industry partners and trade associations, and advised senior leadership. Prior to Avis, Dover spent eight years at JetBlue Airways, serving as Director of Government Affairs. Earlier in his career, Dover served as Legislative Director for Congresswoman Colleen Hanabusa (D-Hawaii) and Legislative Assistant to Congressman Dale Kildee (D-Michigan). Dover holds a Master of Arts in Public Policy from Brown University and a Bachelor of Arts in Political Science from Pepperdine University. He has also been recognized multiple times as one of The Hill's Top Lobbyists.