Avis Budget Group

Creditsafe Releases Financial & Bankruptcy Outlook for U.S. Transportation

Retrieved on: 
Thursday, March 14, 2024
Professional Services, Business, Data Analytics, Transportation, Finance, Travel, Financial management, Day, Bankruptcy, Risk management, Growth, Spirit Airlines, Transport, Landstar System, Intelligence, Yellow Corporation, Acquisition, Avis Budget Group, The Hertz Corporation, J. B. Hunt, Accounts payable, DBT, Avis, FedEx, XPO, Airline

These challenges have created a pressure-cooker situation, driving companies like Yellow Corporation and Hertz Global Holdings to file for bankruptcy.

Key Points: 
  • These challenges have created a pressure-cooker situation, driving companies like Yellow Corporation and Hertz Global Holdings to file for bankruptcy.
  • Today, Creditsafe , the global expert in credit monitoring and risk management, released its Financial & Bankruptcy Outlook: Transportation report , which examines how financial planning, cash flow management and Accounts Payable management have affected the financial health of U.S. transportation and warehousing businesses.
  • The data included in the report was gathered from multiple sources, including financial earnings reports released by the companies, filings with the U.S. Securities and Exchange Commission and the Creditsafe credit risk and intelligence platform .
  • XPO, Inc. is in strong financial shape: XPO’s DBT (Days Beyond Terms) has consistently dropped since August, indicating an improvement in its cash flow and financial management practices.

Diversity Research Institute to Honor Diversity First Top Companies for Diversity and their CEOs at the 20th Annual National Diversity & Leadership Conference in Dallas, TX

Retrieved on: 
Wednesday, March 13, 2024
Professional Services, Business, Human Resources, DEI (Diversity, Equity and Inclusion), Xerox, Kraft Heinz, Microsoft, Bath & Body Works, Hewlett-Packard, Rocket Mortgage, Intel, EBay, Kimberly-Clark, Bath, Conference, PG&E, The Walt Disney Company, Organization, TIAA, AES Corporation, Procter, Coca-Cola, Procter & Gamble, Uber, Health, Gilead Sciences, Edison International, Bank, Diversity, Bristol Myers Squibb, Shantanu Narayen, Avis Budget Group, Science, Rite Aid, CVS Health, Ulta Beauty, Verizon Communications, Conagra Brands, UPS, Science Applications International Corporation, BNY Mellon, DRI, Vertex Pharmaceuticals, Otis Worldwide, Omnicom Group, CDW, DEI

The companies to be honored were selected from the U.S. Fortune 500 Governance Report (2023) published by Diversity First and DRI last year.

Key Points: 
  • The companies to be honored were selected from the U.S. Fortune 500 Governance Report (2023) published by Diversity First and DRI last year.
  • The report evaluates the executive and board demographics of U.S. Fortune 500 companies.
  • It assesses racial/ethnic and gender demographics of each company according to 2019 U.S. Census Data, providing each company with a score and a ranking.
  • The DRI, in affiliation with Diversity First, lists the companies with the highest scores as Diversity First Top 50 Companies.

Avis Budget Group Announces Pricing of €600 Million of Senior Notes

Retrieved on: 
Wednesday, February 21, 2024
Regulation, Avis Budget Group, Person, Note, Security (finance)

PARSIPPANY, N.J., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiary, Avis Budget Finance plc (the “Issuer”), priced a private offering of €600 million aggregate principal amount of 7.00% senior notes due 2029 (the “Notes”), which represents a €200 million increase from the previously announced size of the offering.

Key Points: 
  • PARSIPPANY, N.J., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiary, Avis Budget Finance plc (the “Issuer”), priced a private offering of €600 million aggregate principal amount of 7.00% senior notes due 2029 (the “Notes”), which represents a €200 million increase from the previously announced size of the offering.
  • The closing of the offering of the Notes is expected to occur on February 28, 2024, subject to customary closing conditions.
  • The Notes will be issued at par and guaranteed on a senior unsecured basis by the Company and certain of its U.S. subsidiaries.
  • This press release does not constitute a notice of redemption of the 4.750% senior notes due 2026.

Avis Budget Group Announces Intention to Offer €400 Million of Senior Notes

Retrieved on: 
Tuesday, February 20, 2024
Regulation, Avis Budget Group, Person, Note

PARSIPPANY, N.J., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiary, Avis Budget Finance plc (the “Issuer”), intends, subject to market and other customary conditions, to offer €400 million aggregate principal amount of senior notes due 2029 (the “Notes”) in a private offering.

Key Points: 
  • PARSIPPANY, N.J., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiary, Avis Budget Finance plc (the “Issuer”), intends, subject to market and other customary conditions, to offer €400 million aggregate principal amount of senior notes due 2029 (the “Notes”) in a private offering.
  • The Notes will be guaranteed on a senior unsecured basis by Avis Budget Group, Inc. and certain of its U.S. subsidiaries.
  • This press release does not constitute a notice of redemption of the 4.750% senior notes due 2026.
  • This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities.

Cranemere Appoints Bernardo Hees as an Operating Partner

Retrieved on: 
Wednesday, March 6, 2024
Triple accreditation, Pontifical university, MBA, Aimbridge Hospitality, Avis Budget Group, Bunge Limited, Heinz 57, Harvard Business School, Kraft Heinz, Management

LONDON, March 6, 2024 /PRNewswire/ -- The Cranemere Group ("Cranemere" or the "Firm"), a diversified holding company with permanent capital that allows it to partner with companies for the long term, today announced that Bernardo Hees has been named an Operating Partner, effective March 2024. Mr. Hees will help oversee Cranemere's operating companies, will serve on the boards of select operating companies, and assist in the origination and diligence of new opportunities with a focus on the consumer sector.

Key Points: 
  • LONDON, March 6, 2024 /PRNewswire/ -- The Cranemere Group ("Cranemere" or the "Firm"), a diversified holding company with permanent capital that allows it to partner with companies for the long term, today announced that Bernardo Hees has been named an Operating Partner, effective March 2024.
  • Mr. Hees will help oversee Cranemere's operating companies, will serve on the boards of select operating companies, and assist in the origination and diligence of new opportunities with a focus on the consumer sector.
  • Mr. Hees has extensive experience serving in executive capacities at several large consumer goods companies with globally recognizable brands.
  • Kamil Salame, CEO of Cranemere, said, "Bernardo's track record of successfully leading major global companies including managing brands with enduring consumer appeal makes him an ideal Operating Partner for Cranemere.

WASTE CONNECTIONS APPOINTS CARL D. SPARKS TO ITS BOARD OF DIRECTORS

Retrieved on: 
Tuesday, February 20, 2024
Waste Connections, Copart, WCN, Marketing, Gilt Groupe, Boston Consulting Group, MBA, Princeton University, Expedia Group, Avis Budget Group, Academic Partnerships, Harvard Business School, Management

TORONTO, Feb. 20, 2024 /PRNewswire/ -- Waste Connections, Inc. (TSX/NYSE: WCN) ("Waste Connections" or the "Company") today announced that Carl D. Sparks has been appointed to its Board of Directors, effective March 1, 2024.

Key Points: 
  • TORONTO, Feb. 20, 2024 /PRNewswire/ -- Waste Connections, Inc. (TSX/NYSE: WCN) ("Waste Connections" or the "Company") today announced that Carl D. Sparks has been appointed to its Board of Directors, effective March 1, 2024.
  • "We are very pleased to welcome Carl to our Board," said Ronald J. Mittelstaedt, President and Chief Executive Officer.
  • Mr. Sparks has also served on the board of directors of Copart Inc. since 2021, and the board of directors of Cint Group AB since 2022.
  • Mr. Sparks holds a bachelor's degree from Princeton University and an MBA from Harvard Business School.

Avis Budget Group Reports Fourth Quarter and Full Year Results

Retrieved on: 
Monday, February 12, 2024
Share repurchase, Avis Budget Group, Adjustment, Note, Video game

PARSIPPANY, N.J., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • PARSIPPANY, N.J., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced financial results for the fourth quarter and full year ended December 31, 2023.
  • Adjusted EBITDA in the Americas was $309 million for the fourth quarter and $2.2 billion for the year ended 2023.
  • Adjusted EBITDA in International was $28 million for the fourth quarter and $400 million for the year ended 2023.
  • We will host a conference call to discuss our fourth quarter results on February 13, 2024, at 8:30 a.m. (ET).

Avis Budget Group to Announce Fourth Quarter 2023 Results on February 12th

Retrieved on: 
Friday, January 12, 2024
Avis Budget Group

PARSIPPANY, N.J., Jan. 12, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced today that it plans to report its fourth quarter 2023 results after the market close on Monday, February 12th, 2024, and to host a conference call for institutional investors to discuss these results on Tuesday, February 13th, 2024 at 8:30 a.m. Eastern time.

Key Points: 
  • PARSIPPANY, N.J., Jan. 12, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced today that it plans to report its fourth quarter 2023 results after the market close on Monday, February 12th, 2024, and to host a conference call for institutional investors to discuss these results on Tuesday, February 13th, 2024 at 8:30 a.m. Eastern time.
  • Investors may access the call at ir.avisbudgetgroup.com, or by dialing (877)-407-2991.
  • Investors are encouraged to dial in approximately 10 minutes prior to the call.
  • A telephone replay will be available from 11:00 a.m. Eastern time on February 13th, 2024, until 10:00 p.m. on February 27th at (877)-660-6853 using conference code 13743503.

Avis Budget Group Announces Special Cash Dividend

Retrieved on: 
Tuesday, December 5, 2023
Avis Budget Group, Share repurchase, Holding company

PARSIPPANY, N.J., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) today announced the declaration by its Board of Directors of a special cash dividend of $10.00 per share of common stock.

Key Points: 
  • PARSIPPANY, N.J., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) today announced the declaration by its Board of Directors of a special cash dividend of $10.00 per share of common stock.
  • The special cash dividend is payable on December 21, 2023 to stockholders of record as of the close of business on December 15, 2023.
  • In addition, the Company has purchased approximately 1.3 million shares of its common stock to date in the fourth quarter of 2023 for an aggregate purchase price of approximately $240 million.
  • There is approximately $820 million remaining under its share repurchase program and the Company expects to continue retiring shares throughout the balance of 2023 and beyond (subject to market and other conditions).

Church Mutual® Appoints New Director to Its Board

Retrieved on: 
Tuesday, December 19, 2023
Consumer, Religion, Professional Services, Asset Management, Insurance, Marketing, Economics, Business administration, Voya Financial, Bachelor of Arts, Bachelor, VOYA, University, Human, Master of Business Administration, Columbia Business School, Novartis, Avis Budget Group, ADP, Saperstein, Management

She will replace Director Marsha Lindsay, who will retire from the Board in May 2024.

Key Points: 
  • She will replace Director Marsha Lindsay, who will retire from the Board in May 2024.
  • “I am excited to work with Church Mutual as a member of the Board of Directors,” said Saperstein.
  • “I look forward to using my background in customer experience to help fuel Church Mutual’s growth long into the future.”
    Saperstein is the chief customer experience officer at Voya Financial.
  • Previously, she was head of global strategy at Avis Budget Group, and also led strategy, business development and customer experience at ADP.