-=Avis Budget (CAR) reported earnings on Wed 2 May 2018 (a/h)

Avis Budget beats by $0.28, beats on revs; guides FY18 EPS in-line, revs above consensus 

• Reports Q1 (Mar) loss of $0.74 per share, excluding non-recurring items, $0.28 better thanthe Capital IQ Consensus of ($1.02); revenues rose 7.0% year/year to $1.97 bln vs the $1.92 bln Capital IQ Consensus.
• "The first quarter has our year starting on a very positive note with strong demand, higher underlying pricing in the Americas, improved utilization and lower per-unit fleet costs," said Larry De Shon, Avis Budget Group President and Chief Executive Officer.
• Co issues guidancefor FY18, sees EPS of $2.90-$3.75, excluding non-recurring items, vs. $3.37 Capital IQ Consensus Estimate; sees FY18 revs of $9.20-$9.45 bln vs. $9.18 bln Capital IQ Consensus Estimate.