leverage sets role. up CFO business experience of nearly and now Americas prior of this years been I everyone, as performance in us thank welcome Tax, a worked She Americas, as well joining come. years, together excited of the knowledge recently last the depth instrumental for as the record-setting Accounting over Head years Chief experience Thank to you, to to David. grow of new Good I'm these X VP in Officer morning, new and I role for prior XX we have is profitably her today. for Officer. has and from and our Financial moved want you and the the Izzy and for delivering a and us Izzy who Americas the a Chief Martins, has
I on from into new happy results, be Before conference call world to headquarters. to everyone our our I'm get talking this
just previous collaboration the technologies thought building, facility great our this well advanced opportunities state-of-the-art benefits. and we features as performance Although increased productivity believe teams, increased as development miles few our for allows and a from new and between for
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Yesterday, we full reported our and year results. fourth quarter
$X.X of an year, the the a adjusted annual record revenue achieved billion we for And our highest For revenue EBITDA quarter, we delivered approximately million second EBITDA. of full $XX billion. and for of adjusted company $X.X over ever of approximately and $XXX all-time billion
Looking the at were see our our to business. to to results, seasonality return expectations fourth industry continue our quarter and
relates this year. months it is and on line than calls, with with with but are and from prepandemic and previously. price in again We transition the as now to year historic is the last trending that the a the norm stating well fourth third quarters quarter much this the line been as believe at I've quarter in with very seasonality. it The this higher each to into thinking continues the As seasonality previous volume of much of level apparent quarters just
volume improvement And our strong activity rate company and in second our in did and in largest and well led the in we've a being with in in the performed increased and Christmas Thanksgiving increase in we Volume having company of more was history extremely in third season the strong most the which importantly, to saw an with the in the XXXX highest most year-over-year, the and holiday extremely so history of a experienced. quarter. pressures all, vehicles month October rented any decline producing generated All inflationary Europe, Americas, we as challenges adjusted the team interest of revenue compared more XXXX, than to EBITDA. despite the the our
producing entire I hard maintained level cost results, achievement. want to incredibly their took proud of ultimately of getting of. our are to that for level earning thank produced this terrific and us team all discipline customers, work in record care the results we They service
results. Americas to the Now moving on
in and business leisure went of trips, a trips [ ] turned a getaways as fall As being Americas of the to vehicles month with I at in of in improved commercial both company United our and States on rented any business in month see combination getaway. into the a the a history demand mentioned was October strong with in both earlier, travelers weekend the combination as times, strongest the client
We increased Christmas kicked winter the and airline Volume the year-over-year as on terrific was and dot saw travel and in demand enjoy ever own associations with season coms. leisure quarter away up Thanksgiving We for people XXXX. and growth from partnerships X% versus as our see holiday vacations XX% in off our to of as with home. up the from over or growth both well activity strongest experienced season we've family
and initiative year Plan reservations. marketing the XXXX on deployed again Our of Us campaign announced strategic drove in was record and early
to but it only our recall sure we've all last as more a point our with well this again to for resonate You seems Avis, keep is had years, you plan "At for well one call us, a customers yours." on This performed My make quarter. to and XX action taglines, may this demand. of than slogan,
record choosing brands, traveling books. sometimes there and significant well. on our the drop I reason season when Christmas can this a been no last you on you not have follows this case record is but It change. a As had a to busiest is to that And stated are us were call, summer to for peak, as the our see as and expect apparent the and that we consumers has October
adjusted pricing seasonally transitioned was up still the out but summer fourth peak. of expected, more year-over-year, XXXX. Pricing the XX% down than in As X% quarter we from as
disruptions significant as runways of last This there If due weather last this flight we a cancellations year. come not year December. do you and that volume number from recall, in RPD helped to were the did system have but issues hurt year typically flight like higher-priced we
full third XX%, up XXXX down for being with sequential was over the Pricing with from XXXX, quarter in X% a year line nearly to XXXX. fourth XXXX Americas change pricing the is from quarter the quarter-to-quarter.
our streamlined did last our mentioned these would not the and delivered to the vehicle from showcase cost responsibilities Instead, pandemic. due interest built On But continue how during abdicate team factor discipline I that into results. call, operating we to on results we headwinds structure vehicle depreciation and quarter factors. as usual, focus lean fourth and the
billion, keenly seasonal peak. with As inflationary headwinds, we margins over through $XXX record we EBITDA will and revenues transition with said while and of rising the rental aware of days we're seeing we continue XX%, navigating the $X.X driven adjusted and costs adjusted the combat of are the data. EBITDA achieved sustainable to pressures by from million gains summer Despite before, technology productivity
XXXX. benefited several the met of which significant as nearly came showed million challenges shortages chain the still The well impacted to versus market Team and continue Interests headwind million we timing into dynamics. operating our again vehicle fourth costs. earlier vehicle faced with climb Looking to in quarter deliveries of was quarter. that have more with utilization slated for the Vehicle of and depreciation, $XXX negatively was quarter. costs interest once this quarter across another XXXX supply year later fourth normalization fourth due by was at the in with of the $XX in of XXXX, the
more demonstrating discipline new line challenged, supply approach you expect We vehicle continue than prior with this this the quarter by prior which history, but this the delayed quite utilization year, to increases, and the were have is while not utilization timing year. set the demand, enough selling offset completely still fourth should quarter new periods. full see difference to it to year our stringent in in to was from in our And cars was and
Overall, the XX% adjusted $XXX quarter, above in up demand XX% in year EBITDA resulting had periods, from holiday generating over over pricing million a X% seasonally and Americas and and adjusted with great versus XXXX. up with record-setting last fall XXXX quarter-to-quarter
EBITDA. close $X.X to with in adjusted year billion Team another with ended great
Going forward, to year. demand grow and in I this well course as general we strong, the are is of as expecting with mentioned, travel
Easter still both activity, the summer year, with January XXXX from we'll business the while As continuing quarter, similar quarter quarter, in to travel. warm activity well the destinations and leisure quarter expected will and year amount versus and above be year. fourth inbound vacation elevated early close were first remaining prior of and spring prior XXXX peaking as be while to Pricing the we take we months the in the throughout move for improved and with third up to down in into the versus advantage a
international. to Let's shift gears
was recovery we our XXXX. through follow and the than a into call, in last later recovery trajectory building with while would mentioned days view Europe our Americas, continued that started on similar post eventually As XXXX in
year compared in third fourth volume down XXXX. show the compared X% that to industry overall will did While this up quarter won't an XXXX. be it line. as with we while versus of a XX% still XX% range to take, believe quarter down this to see after only And in holds the this this the continues This cost the being is quarter straight quarter improvement true, the we is and still macro prior
instead a fourth have volume, international saw conscious that low forego concentrate XX% RPD to inbound and of While the Europe to increase business business have continued on quarter invested decision segments, hurdles. from we chasing a travelers. compared a meet of our the capital transactions return those to return Again, made to domestic XXXX we on slow cross-border from
rate compared almost XX% Overall quarter up saw only reported versus and a revenue basis. was XXXX excluding down X%, XXXX effects, exchange the including RPD International fourth and exchange effects to up on rate of X%.
to is focus international operating direct SG&A expenses international also our compared fourth on resulted down quarter X% This the control. they and in be to Our XXXX. could team focused the cost
monthly kept per that, monthly inflationary costs unit an margin. XX% at year cost focused where million on with of XX% a adjusted a margin-accretive environment business an out we in remain and were costs, disciplined, fleet environment. up came Full interest In in EBITDA multiple $XXX and
reservations America XXXX. of quarter into early, XXXX North pricing are into in going as with the both inbound from Europe well first than as slightly showing While growth better
as it it substantial to and region continue there opportunity the believe this that team returns. in capture We recovery ready is is for to
as We on where, Americas said Moving quarter of on depreciation roughly to that last towards depreciation per we segment. the focus to monthly fleet more usual, vehicle. $XXX gross increase our we expected
quarter of Our XX vehicle. sale depreciation which net million on approximately depreciation, of vehicles a of in vehicle, $XXX difference the were led per per $XX to gains vehicle gross and $XXX per million,
As there. of a market, normalizing quarter I the sold a driven opportunity year of in the to older on This quarters. to by wanted while fourth was was vehicles used mentioned compared fleets car still number we earlier, forecast in record part and other harvest fourth gains model we our
factor quarter that our in deliveries fleet OEM the partners. of outsized delayed defleeting new of by another several to But our contributed was
it most older throughout size of first peak, new summer that exit to but fleet year the to of rightsize We we'll our year. were necessary quarter into worked quarter, demand. delivered model fourth continue Given that to through was the the this vehicles to vehicles rightsize after
management. point stability for of creating cycling we'll units a and creating vehicles past and balance throughout price fleet in demand a to as calls, utilization and our in of year vehicles rotation of ensure continue less stated to our stabilization used are cost element vehicle. addresses quarter this quarter, our older critical continues and fleet we do into fleets be some and disposing of age earnings represent as bring past a is while to This new There in line and the value with fourth throughout We type than as of cars As of mileage in year of $XX,XXX still over I time. we fleet this first a a demand, fleet did management. new consumers and this this as the
shift interest. Let's monthly gears now vehicle to
last size, increase. costs $XXX more than company additional monthly than fourth the per total input XXXX. rising, On supply of the from than feel Our I vehicle be said in this XXXX to of demand. I from cost per our cash the must an more in of year, it quarter to expense the total fleet And reiterate, a costs vehicle vehicles core interest compared where and but are quarter million a finance, the the outflow to equates company's XX% we time, per ever. fourth unit were of XXXX, our more to matching of under hypervigilant it's $XXX,XXX, just cost this environment important fourth interest important quarter vehicle of $XX in $XX both that
Before fleet moment a I take talk section, EVs. leave the let me about and
taken always general, in are and fleet prudent to no have exception. a approach We EVs
if with allows fleet is in Our goal required. flexibility demand that a was line to size and have and growth for
a and that in develop to was rental to infrastructure efficient first asset. this a type strategy use properly Our vehicles this for allows seamless charge of the way of
on most our facility a adjust been have for year complete this of over now, we We upgrades. with about
ICE we varied from with from associated make from type. concerns a ensured vehicles we residual group may value vehicles, and any that and Having vehicle with types maintenance-related insulates pressures general inventory X manufacturers. of model purchased or of us As protects us be recalls varied in a
have been keeping outcome criteria allows at staff experience profit rental logistics create be to product, primarily Our a certain readiness in with while expectations. this to our more line the our and the additionally economics because unit for goal consistency our customers has on per trained and airports for
and environment our it to will and be supply-demand with comfortable should we continue required. ever-changing quite are this strategy monitor We EV relationships,
to technology, and our for systems in improved is creates the our Turning business day-to-day and efficiency and continue to as experience an key a of and aspect performance redefine processes. allows which customer we iterate
we a for improvements and on focused head much business incredibly to are process, up data, in in our so evolution much-needed aspirational business efficiency our technology transformation decision-making, outcomes. our asked step We allowing learning and utilize as driving so to Brian I business, machine that inform sustainable
us generates our optimization has the managing revenue contribution significant over pricing cars our to have addition, combination the a that a our and and this advantage and fleet believe an prices forecast team vehicle experience, location inventories The combined we produces accordingly. demand past insight success of demand field and of technology, in demand. margin. great supply been continued with on accuracy large tremendous part several strategy, gives pricing our which We and years, In proprietary to improve down vehicle system,
level Data experienced is analytics, of levels and created as SG&A percent stayed an wage operating inflationary our many challenged with combined expenses system, our why throughput, pressures. direct that is productivity above the our own one has environment a increasing well on-the-ground XXXX. by This efficiency relatively in have in consistent in of our revenue, location reasons performance
record of reservations, provided seamlessly benefits our modernization revenue. IT stability, uptimes, system create The our demand partners to systems have generating producing and increased and real-time allowing
has improved return. to in-car been improvements an provide we check-in which due improved telematics, and you customer our automated provided of asset control As gas upon experience have adopters know, early collections,
Avis a at points locations rolled this rentals. experience allows a vehicles, Customers the customers us thus level process. touchless their preferred it traditional customers transfer On our customer upon exit facility up used digital in counterverification NPS process. quickly can higher to be an process agreement, their arrival our their majority out than exit technology which choose to phone on or Facial to airport vehicles rental side, our XX bypassing our technology using score creating current of through automated to gate of exchange first-time
our to sent enhance be they to scores the for their upon improved gate. vehicle choice of These zone, to picture improved agreement customer year, customers a NPS technologies and them budget exit a application; facility, the record the from experience rental unmanned an currently are digitally a our at. plate take at we the reserve rolled have and quick overall the Fastbreak arrival have allowing an budget During license use out highs
the the cost year fall focused a International deliver and quarter to the had quarter and and our seasonality, strong culminating the leveled another and the larger XXXX. The Americas profitable first strong, and great normal So we adjusted have to summer winter to that team past terrific year efficiencies. on with is towards have driven the Both season. stringent record-setting another the the in with margin again finishing cost in same employed expectation strong is representing environment once revenue full second EBITDA quarter, drive record. is seasonality conclude, than demand second with perform with revenue we pricing third to peak attainment with continuing another and with discipline, quarters dynamics highest The and seen
in the to first price to compared peaking half year, levels high throughout expect elevated continue We in and XXXX. seasonally while quarter, maintaining the third the moderate adjust to
And them deplete while to team once to fleet continue will strong deliver costs and and our to again will in focused is with driven the present challenges, demand, line another our we vehicles year. keep
throughout in to of identified stakeholders, Brian as a our the operationalize operations. Officer, forward new and across the now these look today. year. Izzy, bring group I excited company last off I'm were over our opportunities Brian develop even take to the about start seeing for in X years to and team field Before time transformation helping these it the turn for running headquarters thankful I into a us both thank what as would work, great Transformation CFO past his work and his more and our future many CFO. while and as are minute in his Chief like in And his I'm his partnering he's we to the the are role business with going I to as during efficiencies
to me over Brian. With turn it that, let
