Avis Budget Group (NASDAQ:CAR) is expected to report Q2 earnings after market close Wednesday, August 6, with a conference call scheduled for Thursday, August 7 at 9:00 a.m. ET.
Analysts are looking for EPS of 6c on revenue of $1.52B. The consensus range is (5c) to 13c for EPS, and $1.5B to $1.56B for revenue, according to First Call. On July 2, Avis Budget Group's CEO stated that the company's Q2 results are expected to be below its 2007 results. The company also expect that full-year earnings will be below our 2007 results, stating, while it is difficult in the current environment to accurately forecast our future results, it currently estimates that its 2008 EBITDA will be approximately $350M and its 2008 pretax income will be approximately $140M, excluding any unusual items.
On July 2, Soleil Securities upgraded Avis Budget Group to Buy from Hold.