=Avis Budget (CAR) reported earnings on Tue 28 July 20 (a/h)

Avis Budget beats by $0.24, beats on revs, reports cash burn of $580 mln, 36% better than company forecasted

Reports Q2 (Jun) loss of $5.60 per share, $0.24 better than the S&P Capital IQ Consensus of ($5.84); revenues fell 67.5% year/year to $760 mln vs the $732.05 mln S&P Capital IQ Consensus.

Liquidity & Cash Burn: CAR's liquidity at the end of the quarter was $1.5 billion. Co estimated cash burn would be approximately $900 million, including $100 million in previously scheduled debt retirements. CAR's second quarter cash burn was $580 million, an improvement of $320 million, or 36%, to prior estimates, due to continued vigilance around expense control and stronger than anticipated vehicle fleet disposals.

Expense Reduction: CAR reduced its cost base to match current revenue trends, removing more than $2.5 billion of annualized costs compared to the initial $400 million we announced in late March. Second quarter expenses were 47% lower than prior year, as co removed over $1 billion of costs.

Outlook: Revenues in the second quarter showed sequential improvement, down 78% in April and finished June down 59% from prior year. Revenue improvement has been more robust in our off-airport locations and is close to pre-pandemic levels. CAR expects the velocity of improvement to moderate in the third quarter but anticipates utilization will continue to improve as we further match fleet with demand.

Earnings this week : July 27 - 31, 20 (wk 31)

Monday (July 27)

• Afternoon: AGNC ARE AMKR BRO CATY CINF FIX CR EHC FFIV HSTM HTLF HXL IBTX JJSF JBT MEDP NOV NXPI OGS OMF PCH PFG QTS RNST SSD TCF TNET TBI UHS VCRA

Tuesday

• Morning: MMM MO ARCH AWI ABG B CNC CVLT GLW CMI DHI DTE ECL FBP EBC FELE BEN HOG HUN IVZ IRDM JBLU LH LW MLM MCD MDC MSCI NEO EDU OMC PFE PII PRLB RTX ROK ROP SPGI ST SHW SSTK SITC TRU TPB WAB WDR XRX YNDX ZBRA
• Afternoon: ACCO AMD AFL AKAM AMED AMGN APAM ASH ATRC CAR AXS BE BGFV BXP BYD CHRW CE CB CYH CSGP DENN DXCM EGP EBAY EIX ENVA EQR EEFT FEYE FCF FTV THG HA HP HIW IMAX JNPR KAI LSCC MASI MTDR MXIM MDLZ MPWR MRC NCR NWE OMCL OKE PKG PEGA PKI PLT RNR RXN STX SSNC STAG SBUX SYX TENB TRMK UDR UMBF UNM V WRE WH

Wednesday

• Morning: AAN AER ALKS ANTM APHA ADP AXTA BKU BDC BXMT BA BSX BCO BG CCJ CLS GIB CHEF CME CRTO DIN DT ETN ENB ETR EPD FSS FDP GRMN GD GE GM HES IPG JHG LIVN MHO MGLN MTOR MNRO NYCB NSC OC PAG PB RDWR ROL RES R SAIA SNY SC SMG SHOP SLAB SITE SIX SPOT TSEM FLOW SMP SHOO TROW TEL MEET TT UMC UTHR WNC WING

• Afternoon: AEGN AEM AGI ALGT AMP NLY AM AR APA ACGL ADM ASGN AVB AVTR AX BHE BLKB WHD CERN CAKE CHE CHDN CDE CGNX CTSH CXO CNMD CCI CONE DORM DRE WIRE EQIX EQC FB FICO FBHS FCPT GNW HOLX HPP PI INOV ISBC KRC KGC KN KLIC LRCX MTSI MANT VAC MGRC MMSI MAA MKSI MOBL MC MSA EGOV ORLY OII OIS PGRE PYPL PDM PPC PS PTC QRVO QCOM RJF SANM SIGI SCI NOW SIMO SKY SFM SRI RGR FTI TDOC TTEK TSE TROX TTMI TYL UCTT URI VICI WRI WERN WPX YUMC

Thursday (July 30)

• Morning: AOS ALXN AMT BUD APO APTV AZXN BAX BPMC BC CWT CRAI CI CLF COHU CMCSA COP COR CROX DAN DBD DNKN DD EXP ELAN LLY ES FMS FCN GNRC GPC GIL GPI GRUB HBI HGV IP ITGR ICE K KDP KEX KHC LNTH LKQ MMP MMC MA MPW MD MGPI TAP MCO MYE NTCT NEM NOC NVCR ODFL OSK OSTK PATK PRFT PBI PQG PG PFS RGEN RDS.A SNDR SIRI SM SAH SO SWK SF TMHC TRP TFX TPX TNC TXT TW TRS UPS GRA WM WEX YUM
• Afternoon: TWOU EGHT AIMT MDRX GOOG ATUS AMZN AAPL ATR ACA AJG TEAM BGA BAND BIO BEAT BRKS BVN BLDR COG CPT CC CXP COLM OFC CUZ CVA CACC CRY DVA DECK DLX DLR DRQ LOCO EA EBS NVST EXAS EXPE EXPO FHI FLEX FND FLS F FORM FTAI FWRD GLPI GILD HIG HTGC HTH HOPE HST HUBG MX MTZ MELI MGM MTX MITK MHK MOH PFPT PRO QDEL RP RDFN SGEN SHAK SKYW SPSC SYK TNDM X VRTX VRTU INT WWE XLNX XPO ZEN

Friday (July 31)

• Morning: ABBV AXL AON BCPC BERY BAH CAT CBOE CBRE CHTR CVX CHD CL CTS D XOM FCAU GT IDXX ITW MRK NOK NWL NVT PBF PSX PSXP PINS PNM SNA SPB UAA VFC WPC WETF

Earnings spotlight:

• Avery Dennison (NYSE:AVY), Hasbro (NASDAQ:HAS) and NXP Semi (NASDAQ:NXPI) on July 27; 
• Centene (NYSE:CNC), McDonald's (NYSE:MCD), Pfizer (NYSE:PFE), 3M (NYSE:MMM), Altria (NYSE:MO), Visa (NYSE:V), Starbucks (NASDAQ:SBUX), eBay (NASDAQ:EBAY) and Mondelez International (NASDAQ:MDLZ), AMD (NASDAQ:AMD) and Raytheon Technologies (NYSE:RTX) on July 28; 
• Boeing (NYSE:BA), General Electric (NYSE:GE), General Motors (GPhillM), General Dynamic (NYSE:GD), Boeing (BA), Spotify (NYSE:SPOT) Facebook (FB), PayPal (NASDAQ:PYPL), Archer Daniels Midland (NYSE:ADM), Qualcomm (NASDAQ:QCOM), Shopify (NYSE:SHOP) and Yum China (NYSE:YUMC) on July 29; 
• Royal Dutch Shell (NYSE:RDS.A), CIGNA (NYSE:CI), Comcast (NASDAQ:CMCSA), UPS (NYSE:UPS), Procter & Gamble (NYSE:PG), Anheuser-Busch InBev (NYSE:BUD) and Kraft Heinz (NASDAQ:KHC), DuPont (NYSE:DD), Valero Energy (NYSE:VLO), Amazon (AMZN), Apple (AAPL), Alphabet (GOOGL), Ford (NYSE:F), MGM Resorts (NYSE:MGM) and Gilead Sciences (NASDAQ:GILD) on July 30; 
• Exxon Mobil (NYSE:XOM), Phillips 66 (NYSE:PSX), Chevron (NYSE:CVX), Merck (NYSE:MRK) and Caterpillar on July 31.

=Avis Budget (CAR) reported earnings on Thur 31 Oct 19 (a/h)

Avis Budget misses by $0.68, misses on revs; reaffirms FY19 EPS guidance, lowers FY19 revenue guidance midpoint below consensus

Reports Q3 (Sep) earnings of $2.96 per share, $0.68 worse than the S&P Capital IQ Consensus of $3.64; revenues fell 0.9% year/year to $2.75 bln vs the $2.84 bln S&P Capital IQ Consensus.

Co issues guidance for FY19, sees EPS of $3.35-4.20 vs. $3.96 S&P Capital IQ Consensus; lowers FY19 revs to $9.0-9.2 bln from $9.2-9.5 bln vs. $9.2 bln S&P Capital IQ Consensus.

"Our Adjusted EBITDA margin was more than 17% for the quarter. Our Americas segment had record Adjusted EBITDA performance. Our operations achieved record Net Promoter Scores for the second quarter in a row, showing the impact of our efforts to improve our customer experience," said Larry De Shon, Avis Budget Group President and Chief Executive Officer.

=Avis Budget (CAR) reported earnings on Tue 6 Aug 2019 (b/o)

Avis Budget beats by $0.06, reports revs in-line; reaffirms FY19 guidance; increases share repurchase authorization by $100 mln

Reports Q2 (Jun) earnings of $0.79 per share, excluding non-recurring items, $0.06 better thanthe S&P Capital IQ Consensus of $0.73; revenues rose 0.4% year/year to $2.34 bln vs the $2.35 bln S&P Capital IQ Consensus; Adjusted EBITDA increased to $175 million, up 9% from prior year.

Coreaffirms guidancefor FY19, sees EPS of $3.35-4.20, excluding non-recurring items, vs. $4.08 S&P Capital IQ Consensus; sees FY19 revs of $9.2-9.5 bln vs. $9.23 bln S&P Capital IQ Consensus.

Increased share repurchase authorization by $100 million to a total of $250 million. "We are executing on our strategic initiatives and are seeing meaningful benefits from our partnerships with Lyft, Via, Fetch, Waymo, and Otonomo. We are also pleased to announce our new partnership with Uber to expand our ride-hail fleet initiative. These initiatives continue to provide opportunities within the mobility industry for our customers while improving profitability and maintaining our position as a global leader in mobility solution."

Earnings this week : Aug 5 - 9, 19 (wk 32)

Monday (Aug 5)

• Morning: ATRO CARS CYOU KMPR L TA TSN 
• Afternoon: APLE CAR BKD CBT CZR CBPO COHU CXW  EVER  PLOW DCO FRPT HIIQ PODD ITRI KLAC RAMP MAR O SHAK SWAV SNCR TTWO THC WWD

Tuesday (Aug 6)

• Morning:  AFI BHC BDX APRN CAR  CRCM CHK CHH DF DISCA DUK ERI ENR HSIC JLL LGIH MNK MGP MOS  EYE PAYS PLUG SEAS SSTK TEN  FLOW VRTV VG WBT WLK ZTS
• Afternoon: ACLS ADT AFG AINV AIZ AKCA AMN ANDE APEI ARLO AVD AXGN BECN BNFT BOLD BTG CARG CGBD CMP CPE CPSI CTRE CUB DCP DHT DIS DVN DXPE EDIT ENLC ENTA EVH EVRI FANG FATE FLT FTR GBT GCP GH GTES  GWPH HALO HCKT HCR HST HTZ HUBS ICHR INSG INSP IOSP JAZZ KAR KRNT LC LOPE LRN LTHM MAXR MBI MCHP MMI MODN MTCH NDLS NEWR NP NUS NVTA OAS OHI OSUR PAA PAGP PBPB PE PEN PLNT PLT PLYA POWL PTCT PXD PZZA QUOT RRR RTRX SAIL SCOR SEDG SSTI STAY SUPN SWN SWX TGH TROX TWO TXMD VOYA VREX WK WMC WTR WTTR WW WYNN Y ZAGG ZGNX

Wednesday (Aug 7)

• Morning: AMAG ANIP ATHM ATKR AVA BCOR BV CNP CNR CORE CPRI CSTE CVS CYBR DNR DOC ETM EVOP FUN GOLF GTN HL HZNP ICPT INGN INXN IONS JELD KELY.A LAMR LL LXP MDCA MFA MIDD NRG NVMI NXST NYT ODP OMI QEP SBGI SGRY SINA SND SPB SRC SSW STWD TELL TEVA VER VGR WAAS WB WD WEN WWW
• Afternoon: AAOI, AGO, AGS, AIG, ALB, AMPH, ANGI, AOSL, APYX, ARNA, ASRT, ATO, AVLR, AZPN, BKNG, BREW, CABO, CAI, CCMP, CDE, CECO, CLI, COLL, CPA, CPRX, CSGS, CTL, CVNA, CWH, DAR, DDD, DOX, DVAX, EB, ECPG, ENS, ENV, ET, EVRG, FG, FLO, FNV, FOSL, FOXA, FRGI, FSCT, FSM, FTDR, FTK, G, GBDC, GDOT, GKOS, GLPI, GTE, HHC, IAC, IAG, ICUI, IIPR, IMMU, INFN, IVR, JACK, KIDS, KRO, LHCG, LYFT, MATX, MELI, MFC, MNST, MRAM, MRO, NTES, NTRA, NUAN, NVEE, OPK, ORA, PAAS, PDCE, PEGA, PETQ, PRA, PRI, PRSC, PTLA, QHC, QRTEA, QTWO, RCII, RDUS, REZI, RGLD, RGNX, RLJ, ROKU, RUN, RYAM, RYN, SENS, SFLY, SGMO, SJI, SONO, SRPT, STMP, SUN, SWCH, SWKS, SWM, TCX, TLND, TPIC, TRIP, TTGT, TVTY, TWNK, UHAL, UPLD, UPWK, VERI, WMGI, ZG, ZVO 

Thursday (Aug 8)

• Morning: ACIW, AMC, AMRC, AZUL, BAM, BPMP, CAH, CBB, CCOI, CDLX, CEVA, CNNE, COMM, COT, CRON, CSWI, CVIA, DESP, EBIX, ECOM, EGRX, EPAM, ESPR, FOCS, FOLD, FVRR, GOGO, GTS, GTT, HIMX, HMHC, IBP, KDP, KHC, KOP, KTB, LAUR, LITE, LKSD, LNG, MGA, MMS, MPAA, MUR, NBEV, NCLH, NGL, NHI, NICE, NOMD, NS, OGE, PCRX, PNW, PQG, PRGO, PRTY, PTE, RDNT, REV, RLGY, SATS, SNH, SUP, TAST, THR, TTI, TW, USPH, VIAB, VIRT, VSTO
• Afternoon: AAXN AIMT AIRG AL ALRM ALTR AMBC APPN AQN ASYS ATVI AVT AXA C CBS CHUY CISN CNDT COLD CUTR CYRX DBX DXC ELY EPAY EQH ESE FGEN FLNT FNKO FSLY FTCH HBM IIIV JAG MAIN MDP MDRX MESA MTW NKTR NNBR NNI NVGS NVRO NWSA OMER OSTK PBYI PCTY PRA PRAA PUMP QDEL QNST RBA ROAD RVLV SEMG SIEN SPPI SSR SSRM SYMC SYNA TERP TPC TRHC TRUE TSE TTD UBER UNIT VRAY VRTU VSAT VSLR WAIR WPM WPRT WTRH XON YELP

Friday (Aug 9) 
Morning: 

• CBM CLNY DPLO ERF HPT SSP TRCO USCR YRCW

Mon Aug 5 a/h

Thur  Aug 8 a/h

=Avis Budget (CAR) reported earnings on Wed 20 Feb 2019 (a/h)

Avis Budget beats by $0.20, reports revs in-line; guides FY19 EPS in-line, revs in-line

• Reports Q4 (Dec) earnings of $0.53 per share, excluding non-recurring items, $0.20 better than the S&P Capital IQ Consensus of $0.33; revenues rose 1.5% year/year to $2.05 bln vs the $2.05 bln S&P Capital IQ Consensus.
• Americas per-unit fleet costs were 7% lower for both the quarter and the year excluding exchange rate effects.
• Co issues in-line guidance for FY19, sees EPS of $3.35-4.20, excluding non-recurring items, vs. $3.78 S&P Capital IQ Consensus; sees FY19 revs of $9.2-9.5 bln vs. $9.32 bln S&P Capital IQ Consensus.
  • Also sees FY19 adjusted EBITDA of $750-850 million.
  • Adjusted free cash flow of $250-300 million.

Earnings this week : Feb. 18 - 22, 2019 (wk 8)

Earnings confirmed to report this week:

Monday (Feb 18) 

• (Holiday) U.S. Market Closed

Tuesday (Feb 19)

• Morning: AAP ALLE WTR AAWW CLR CTB CEQP ECL FELE FDP GDI GPC HLX HIMX HEP HOLI JELD LDOS DOOR MDT NEO NBL SAGE SCI SITE TTS TSEM RIG USAC WMT
• Afternoon: ACC AWK CDNS CRMT CXW DVN  FIVN HLF HST HSTM HVT INST KAR KRG LC LMAT LNTH LZB NTB NVTA RARE SSTI TILE TVTY TXRH VRSK WIRE

Wednesday (Feb 20)

• Morning: ADI AROC BHC BDC CNDT CVS ETR FMS GCI GRMN GEL GVA HSIC HFC IPHS I LAMR NI OMI OC QUAD SAH SO TRGP VNTR VPG WIX WWW
• Afternoon: A ALB ATR AXTI CAI CAKE CAR  CBLK CDE CECO CHE CLI CONE CUTR CYH FLS FTI GDDY GDOT GHDX IAG ICLR INOV IVR JACK KALU LASR LOPE MANT MMI NDSN NE NTES NUVA O OR PAAS PEGA PI QEP RGR ROG RPT SAM SEDG TMST TRN TSLX TYL UFPI VIPS VMI WK WPG WPX WRI XEC Y

Thursday (Feb 21)

• Morning:  BRC DIN DLPH DPZ FND GIL GOGO HL HRL ITGR NCLH NEM PLAB PWR RGEN ROCK RS SFM SGMs STOR TFX VG WEN
• Afternoon:  AAOI ACIA ADSW AL AMH ANIK APPN ATUS BEAT BIDU BJRI BMRN BOOM BYD CASA CATM CBPX CENX CHSP COLD CUBE CWST CZR DBX DXCM EBS ECOL ED EGO  ENV EVRG EXAS FIX FLR FSLR GMED HALO HCC HPE HTGC INFN INT INTU IQ KEYS KHC LNT LPSN MATX MDRX NCMI NVRO OLED PAGS PBA PE PRA RMAX ROKU SBAC SEM SSRM STMP SWM TGH TTD TXMD UCTT VERI VLRS XOG

Friday (Feb 22)

• Morning: AN ASIX B CNK COG COT ERF ETM HMSY ITT MGA MNTA PNW RCM RUTH RY TDS TVPT USM W WPC

=Avis Budget (CAR) reported earnings on Tue 7 Aug 2018 (a/h)

Avis Budget reports EPS in-line, revs in-line; guides FY18 EPS in-line, revs in-line; adds to buyback 

• Reports Q2 (Jun) earnings of $0.57 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.57; revenues rose 4.0% year/year to $2.33 bln vs the $2.35 bln Capital IQ Consensus.
• Co issues in-line guidancefor FY18, sees EPS of $3.00-3.85 (Prior $2.90-3.75), excluding non-recurring items, vs. $3.54 Capital IQ Consensus Estimate; sees FY18 revs of $9.05-9.3 bln (Prior $9.2-9.45 bln) vs. $9.24 bln Capital IQ Consensus Estimate.
• The Company also announced that its share repurchase authorization has been increased by an additional $250 million, which gives it $283 million of available repurchase authorization from July 1, 2018 going forward.

Earnings this week : Aug 6 - 10, 18 (wk 32)

Notable earnings out this week

Monday (August 6)

• Morning: CTB  BID CAH NWL  SEAS TSN 
• Afternoon: CDEV ETSY HTZ MAR MOS  RNG Z  ZG  TWLO TLND WTW  AEL AKCA AMRS ANDV ANDX ANSS APLE ARNA ATSG AVD AWR BHF BKD BKH BRKS BWXT CBT   CMP CPE CRY CRZO CVCO DCO DPLO DVAX EDIT   EVBG FATE FIVN FRGI FRPT  HHC   ITRI KMT KRNT LGND LMNX     MTSC MTW MWA MXWL NCMI NGHC NPTN NSA NVGS OAS OFIX OTTR PI PLOW PLYA RBC REN   RPD SNHY SYKE TCMD THC  TRTX TUSK  WMC  ZGNX 

Tuesday (Aug 7)

• Morning:  ACM AES AFI AMRC ANIP AQUA ARMK ATKR AVNS AYR BHC BIOS BLD BOLD BR CEVA CORE CROX DEA DF DISCA DNR DQ EGN EGRX EMR EPC EXPD FSS GSKY GTN HAE HLNE HZN IIVI IONS JELD LABL LGIH LPX MGP MNK NHI NJR NS NWN ODP OMI ONCE ONDK PPL PRIM QNST RDUS RHP SAGE SATS SN SNH SPNS TAST TDG TECH TGH TGNA TRS USAC USCR VGR VPG VSH VSM XRAY ZBRA 

• Afternoon:   AAOI  AAXN AIZ ALB ALRM AMBR ANDE ARA BECN BIO BLDR BOFI BOOT BTG CAR CARG CBLK CGBD CIVI CLR CSOD CUTR CWH CYBR DCP DDD DHT DIOD DIS DK DXC DXPE ENV ESE EVH EVRI FGEN FOSL FTK G GCP GWPH HALO HCKT HDP HST ICHR IFF INFN INGN INSP IOSP IPAR IVC IVR JAZZ KAR KRO LC LRN MMI MODN MTCH MXL NEWR NNI NP NVTA OPK ORA PAA PAGP PBPB  PE  PEN PLT POWL PRA PRAA PRI PRMW PRSC PTCT PUMP PXD PZZA QDEL QTWO RLJ RWT SFLY SIEN SNAP SRC SUPN SWX TPC TPIC TRHC TWNK TWO VSLR WEN WK WRD XEC XOG 

Wednesday (Aug 8)

• Morning:   ATHM   CARS CBB CHH CLNY CNDT CNK CRL CSTE CUB CVS DEPO DLPH EBIX ENDP ETM EXTR FI FRTA GEL GOGO GVA HRI HZNP ITG JLL KDP KELYA KORS LAMR LITE LXP MGA MIDD MYL NOVT NXST NYT SBGI SINA  SO STE STWD SUP TGI TLRA TPB TRI WAAS WB WWW WYND

• Afternoon: ACAD ACTG ADT AINV AMBC AMPH ANGI AOSL APEI ATO AVT AYX AZPN BKNG BREW BV CISN COLL CPA CTL CVNA CXW DAR DNB DOOR ECPG ELF ENS EQIX ETE ETP EVRG FANG FG FLO FLS FNV FOXA FSM GBDC GDOT HPR IAC IAG INSY JACK KAMN KIDS LASR LOPE MBI MELI MFC MNST MRAM MUR NEU NKTR NNBR NTES NTRA NUAN NVAX OCLR ORIG OSUR OUT OXY PAAS PDCE PEGA QHC RGLD ROKU RPT SAIL SD SEMG SENS SGMO SJI SLF SRPT SUN TCX TIVO TTGT UHAL UPLD VNOM VRTU WMGI XPER YELP ZTO

Thursday (Aug 9)

• Morning:   BAM BPMP CABO CCE CDAY DDS DSKE FBM GCI GOOS HIMX HL HPT IMOS KOP LAUR LNG LOXO MMS MNTA MPAA NCLH NICE NOMD OGE PEGI PLUG PQG PRGO PRTY PTLA RDNT SGRY SMI SND SNR SPH TRCO TTI UNT  UPL VIAB VRTV VSTO WBT WIN WMS WP

• Afternoon:  ACXM AIRG AL ALTR ASYS AVID AVLR BW CDNA  CHUY COLD CORT CYRX DBX ECOM  ELGX  EPAY FNKO FSCT ICUI INVH JAG JCOM LGF.A MCHP MIME NWSA OLED OMER OSTK  PBYI PCTY PLNT RBA RDFN ROAD RUN  SPPI SSRM SYNA  TRUE  TTD UNIT VSAT WOW WPRT WTTR XON

Friday (Aug 10)

• Morning:  AIT ERF MDP RUTH

-=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. 

=Avis Budget (CAR) reported earnings on Wed 21 Feb 2018 (a/h)

Avis Budget beats by $0.23, beats on revs; guides FY18 EPS in-line, revs in-line(38.96 -0.98)

• Reports Q4 (Dec) earnings of $0.45 per share, excluding non-recurring items, $0.23 better than the Capital IQ Consensus of $0.22; revenues rose 7.5% year/year to $2.02 bln vs the $2 bln Capital IQ Consensus.
• Co issues in-line guidance for FY18, sees EPS of $2.90-3.05, excluding non-recurring items, vs. $3.02 Capital IQ Consensus Estimate; sees FY18 revs of $9.20-9.45 bln vs. $9.08 bln Capital IQ Consensus Estimate.
  • Adjusted EBITDA in the range of $740-820 mln.
  • Adjusted Free Cash Flow $325-375 mln.
  • Americas Total revenue per day Flat to +2.0% y/y
  • International revenue per day -2.0% to Flat

Avis Budget Group (CAR) to manage driverless-car fleet for Alphabet (GOOG)’s Waymo

Google parent Alphabet Inc. is hiring rental-car firm Avis Budget Group Inc. to store and service its self-driving cars in a deal that shows Alphabet’s vision of a network of driverless taxis is getting closer to reality.
More self-driving car partnerships: 

• Apple (AAPL) was reported to be working with Hertz (NYSE:HTZ) on autonomous testing.
• Volvo Cars (OTCPK:GELYY) and Autoliv (NYSE:ALV) have signed a deal with Nvidia (NASDAQ:NVDA) to develop software systems for autonomous vehicles.

Shares in rental-car companies Avis Budget Group (CAR) and Hertz Global Holding (HTZ) jumped in trading Monday after Avis announced a pact with Waymo, the self-driving auto unit of Google-parent Alphabet (GOOGL).

Under the deal, Avis will manage Waymo's small fleet of autonomous vehicles in Phoenix, where the Alphabet unit is testing a ride-hailing service with volunteer members of the public. Avis will service and store Waymo's Chrysler Pacifica minivans.

Waymo will pay Avis for its service, though financial terms were not disclosed. Waymo could partner with Avis in other markets if it expands trials or finds other partners.

Avis stock jumped 8.5% to 26.32 in the stock market today. Shares in Hertz were up 7.7% to 10.28, as Wall Street apparently expects the car-rental leader to score its own self-driving deal with one of several entities involved in the effort.

Tech firms developing self-driving car technology are not interested in manufacturing autonomous vehicles and also need logistical partners such as Avis, analysts say.

Waymo's initial auto industry partner has been Fiat Chrysler (FCAU). Waymo has also been in discussions with Honda, General Motors (GM) and Ford (F).

Apple (AAPL) recently received permission from the California Department of Motor Vehicles to test self-driving cars on public roads in the state. Apple has never publicly acknowledged its Project Titan self-driving efforts, which reportedly have shifted from an Apple-made car to Apple self-driving software.

GM is testing self-driving cars in Michigan, while Uber is doing the same in Pittsburgh.

Waymo also has an alliance with Lyft, Uber's rival in ride-hailing services.

CAR — is it a buy?

• 6/12: is CAR a buy?

• 2 weeks later:

CAR — is it a buy?

• #97
• 2/28/17:  Is CAR a buy?

• 3 weeks later: NO

Avis Budget Group (CAR) reported earnings on Wed 15 Feb 2017 (a/h)

** charts before earnings **

  

** charts after earnings **

• 2nd day after earnings:

• The vehicle rental company reported below-consensus fourth quarter earnings of $0.15 per share on a 1.2% year-over-year decrease in revenue to $1.88 billion, which was short of expectations.

PARSIPPANY, N.J. (AP) _ Avis Budget Group Inc. (CAR) on Wednesday reported a loss of $31 million in its fourth quarter.

On a per-share basis, the Parsippany, New Jersey-based company said it had a loss of 35 cents. Earnings, adjusted for non-recurring costs and to extinguish debt, came to 15 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The car rental company posted revenue of $1.88 billion in the period.

For the year, the company reported profit of $163 million, or $1.75 per share. Revenue was reported as $8.66 billion.

Avis Budget expects full-year earnings in the range of $3.05 to $3.75 per share, with revenue in the range of $8.8 billion to $8.95 billion.

Avis Budget shares have risen 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $40.66, an increase of 47 percent in the last 12 months.

CAR — is it a buy?

• 9/16/16:  CAR at $37,  is it a buy?
• #15
• hi volume

• A week later

• Declined in the following weeks:

Avis Budget Group (CAR) reported earnings on Tue 23 Feb 2016 (a/h)

** charts after earnings **

Avis Budget Group  (CAR) stock is plummeting by 24.64% to $22.60 on heavy volume in early-afternoon trading on Wednesday, after the company issued 2016 earnings guidance below analysts' expectations.

For the full year, the car rental company anticipates that per-share earnings will range between $2.70 and $3.30, below analysts' estimates for earnings of $3.43 per share.

The reduced forecast includes a 17-cent negative impact from currency exchange rates. Avis also plans to invest more to improve customer experience.

In all, Avis reported 2015 fourth quarter adjusted earnings of 18 cents per share, above estimates for 17 cents per share. Revenue was $1.9 billion for the quarter, below expectations for $1.92 billion.