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 ...

The market expects Avis Budget Group (CAR) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be re ...

Avis Budget Group (CAR) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this car rental company have returned -2% over the past month versus the Zacks S&P 500 composite's +1.6% change. The Zacks Transportation - Services industry, to which Avis Budget belongs, has lost 8.8% over this period. Now the key question is: Where could the stock be headed in the near term?Alth ...

The most recent trading session ended with Avis Budget Group (CAR) standing at $167.95, reflecting a -1.04% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.29%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.43%.The car rental company's stock has dropped by 6.89% in the past month, falling short of the Transportation sector's loss of 2.99% and the S&P 500's gain of 2.08%.The upcoming earnings release of Avis Budget G ...