Avis Budget Group, Inc. (CAR)  reported mixed fourth-quarter 2023 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.Adjusted earnings of $7.1 per share beat the consensus estimate by 62.8% but plunged 32.1% year over year. Total revenues of $2.76 billion missed the consensus estimate by 1.3% and decreased slightly from the year-ago reported figure.Investors seem to be unimpressed by the earnings beat as shares of CAR declined 6.7% from the date of earning release ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-10308 AVIS BUDGET GROUP, INC. (Exact name of Registrant as specified in its charter) Delaware 06-0918165 (State or other jurisdiction of (I.R.S. Em ...

Hertz Global Holdings Inc.’s stock tumbled 12% Tuesday to put it on track for a record-low close, pulled down by bad news from its smaller rival, Avis Budget Group Inc.Hertz HTZ, -13.13% was last quoted at $7.61, its lowest level since it emerged from bankruptcy in 2021, according to Dow Jones Market Data. The stock has fallen for four of the past five days and is down 26% in the year to date. Last week, the car-rental company posted weaker-than-expected fourth-quarter earnings as it booked $245 million in ...

Avis Budget Group Inc. investors were having their worst day in four years on Tuesday, after the car-rental company said it sold a record number of vehicles during the fourth quarter in a bad market for used cars, due to vehicle oversupply and a spike in interest costs.Meanwhile, the company reported fourth-quarter profit that was well above expectations, despite a surprise decline in revenue.“Currently, there is a considerable amount of volatility in the used-car market,” said Chief Financial Officer Izzy ...

Start Time: 08:30 January 1, 0000 9:30 AM ET Avis Budget Group, Inc. (NASDAQ:CAR) Q4 2023 Earnings Conference Call February 13, 2024, 08:30 AM ET Company Participants Joe Ferraro - President and CEO Izzy Martins - EVP and CFO Brian Choi - EVP and Chief Transformation Officer David Calabria - SVP, Corporate Finance and Treasurer Conference Call Participants John Healy - Northcoast Research Adam Jonas - Morgan Stanley Chris Stathoulopoulos - SIG Ryan Brinkman - JPMorgan Chris Woronka - Deutsche Bank Stephanie ...

For the quarter ended December 2023, Avis Budget Group (CAR) reported revenue of $2.76 billion, down 0.3% over the same period last year. EPS came in at $7.10, compared to $10.46 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.8 billion, representing a surprise of -1.27%. The company delivered an EPS surprise of +62.84%, with the consensus EPS estimate being $4.36.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

Avis Budget Group (CAR) came out with quarterly earnings of $7.10 per share, beating the Zacks Consensus Estimate of $4.36 per share. This compares to earnings of $10.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 62.84%. A quarter ago, it was expected that this car rental company would post earnings of $14.54 per share when it actually produced earnings of $16.78, delivering a surprise of 15.41%.Over the last four quarter ...

Avis Budget Group Inc (NASDAQ: CAR) is trading down in extended hours even though it reported better-than-expected financial results for its fiscal fourth quarter. Why is Avis Budget stock down in after-hours?Copy link to sectionThe stock is in the red perhaps because the company’s liquidity position inched down sequentially in Q4. Avis Budget ended the quarter with over $800 million in liquidity – down from some $1.0 billion three months ago. Still, Joe Ferraro – chief executive of the car rental firm sai ...

Perhaps it’s better for many of us that the Monday morning following Super Bowl Sunday — especially one that went to the last play of overtime — is not rife with consequential stock market data ahead of the opening bell. We’re down to our last couple busy weeks of Q4 earnings season, and have plenty of economic reports at the ready to help us move trading along this week. Currently, both the S&P 500 and Nasdaq are down -2 points, while the Dow is off -47 points.The biggest print of the week comes tomorrow m ...

In its upcoming report, Avis Budget Group (CAR) is predicted by Wall Street analysts to post quarterly earnings of $4.36 per share, reflecting a decline of 58.3% compared to the same period last year. Revenues are forecasted to be $2.8 billion, representing a year-over-year increase of 1%.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 17.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections duri ...