Avis Budget Meets Q4 Earnings, Stock Falls On Weak 2016 Guidance

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Avis Budget Group Inc. (CAR – Analyst Report) just released their fourth quarter fiscal 2015 earnings results, posting earnings of $0.18 per share and revenue of $1.9 billion.

Currently, CAR has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Avis Budget:

1. Met earnings estimates. The company posted $0.18 per share, matching our Zacks Consensus Estimate of $0.18.

2. Missed revenue estimates. The company saw revenue figures of $1.9 billion, just missing our estimate of $1.943 billion,

3. Announced that revenue will increase 2%-4% this year to a range of $8.7B-$8.85B compared to the $8.77B consensus. The outlook for EPS is set at $2.70 to $3.30 vs. $3.43 consensus.

4. Said it lost $5 million, or 6 cents a share, in the fourth quarter, versus a gain of $23 million in the year-ago period.

5. CAR was down $3.80, or 12.67%, to $26.19 as of 5:18 PM ET in after hours trading shortly after its earnings report was released.

Here’s a graph that looks at Avis Budget’s stock price:

Avis Budget Group Inc. (CAR – Analyst Report) Stock Price | FindTheCompany

Avis Budget Group, Inc. is a leading provider of vehicle rental services, with operations in more than seventy countries. Through its Avis and Budget brands, the company is the largest general-use vehicle rental company in each of North America, Australia, New Zealand and certain other regions. Avis Budget maintains the leading share of airport car rental revenue and operates the second largest consumer truck rental business in the United States. The company generates significant benefits from operating two distinctive car rental brands targeting different market segments but share the same fleet, maintenance facilities, technology and administrative infrastructure. Avis Budget was founded in 2006 and is headquartered in Parsippany, New Jersey.