Mon, Nov. 16, 11:46 AM
Tue, Nov. 3, 9:14 AM
Mon, Nov. 2, 5:33 PM
Mon, Nov. 2, 4:57 PM
- With a Q3 miss on the books, Avis (NASDAQ:CAR) now expects 1% 2015 revenue growth, compared with prior guidance of 1%-3% (consensus is at 1.3%). EPS guidance has been lowered to $3.10-$3.25 (+5%-10% Y/Y) from $3.15-$3.45 (consensus is at $3.36).
- Americas revenue rose 2% Y/Y in Q3 to $1.78B; international revenue rose fractionally to $801M. GAAP expenses rose 1% to $2.27B.
- $161M was spent to buy back 3.7M shares. Avis now expects 2015 buybacks to "meaningfully exceed" $300M.
- Rival Hertz (NYSE:HTZ) is following Avis lower ahead of its Q3 report, due on the morning of Nov. 9.
- Q3 results, PR
Mon, Nov. 2, 4:19 PM
Mon, Nov. 2, 10:25 AM
- Avis Budget Group (NASDAQ:CAR) is up 2.7% on strong volume with earnings due out after the bell. Analysts expect revenue of $2.62B and EPS of $1.99.
- Shares are receiving a little nudge this morning from a favorable write-up in Barron's over the weekend. The publication says the company is poised to benefit from the consolidation trend in the car rental business.
- Barron's leans on a favorable view on Avis from hedge fund Marcato Capital Management. "We think that the stock will double from its current price of $50 by late 2017," gushes Marcato principal Roger Kuo. Marcato owns a 6% slice in Avis.
Sun, Nov. 1, 5:35 PM
- ADUS, AEIS, AHL, AIG, ALDW, ALJ, ALL, AMC, AMCC, ANH, ARE, AVD, CAR, CBT, CDE, CGNX, CHGG, CUTR, CYH, DNB, DWRE, ELNK, ENH, ENS, ES, FN, GGP, GPRE, ININ, INN, KONA, LMNX, MCEP, MDAS, MDU, MIC, NLS, NPTN, NSTG, OHI, OLN, ONDK, OTTR, PLOW, PPS, PQ, PXD, QLYS, RAIL, RNG, RSPP, RTEC, RYN, SANM, SGY, SNHY, SSNC, SSW, TDOC, THC, TNET, TXRH, UIL, UNXL, VGR, VIAV, VNO, WSTC
Tue, Sep. 29, 4:50 PM
- Speaking at the Deutsche Bank Leveraged Finance Conference, Avis Budget (NASDAQ:CAR) CEO David Wyshner says the company has been "aggressive" buying back stock at the relatively low levels of late, with Q3 repurchases set to total more than $150M - assuming buys in the low-mid $40s, that would amount to about 3% of the float.
- The stock is lower by more than 35% year-to-date.
Wed, Sep. 16, 9:09 AM
Mon, Aug. 17, 2:33 PM
Mon, Aug. 3, 4:20 PM
Sun, Aug. 2, 5:35 PM
- ADUS, AEIS, AIG, ALDW, ALJ, ALL, ANH, APU, BKD, BMRN, BNFT, CAR, CGNX, CHGG, CKP, CTRP, CYH, DAC, DENN, DK, DKL, ELGX, ELNK, ENH, EPIQ, EXP, FIVN, GGP, HIL, IDTI, ININ, INN, KAR, KBR, KONA, LLNW, LMNX, MCEP, MCHP, MDU, MDWD, MIC, MRC, NLS, NVGS, OHI, ONDK, ORA, OTTR, PLOW, PPS, QEP, QLYS, QNST, RBC, RSPP, RTEC, SGMS, SNHY, THC, TNET, TSRA, TXRH, UGI, VECO, VNO, VNR, WSTC, XL
Thu, Jul. 16, 5:41 PM
Thu, Jul. 16, 5:16 PM
- Hertz (NYSE:HTZ) has finished its accounting revenue and filed its 2014 annual report, which includes "restated results for 2012 and 2013 as well as selected unaudited restated financial information for 2011." The car rental giant has also filed its Q1 10-Q, making it up-to-date on SEC filings and NYSE listing requirements. (SEC filings)
- Hertz has also affirmed its commitment to its $1B buyback program and spinoff of its HERC equipment rental unit, forecast it now expects $300M in annualized savings from its cost reduction program by year's end (up from a prior $200M), and established full-year guidance for EBITDA of $1.45B-$1.55B and non-fleet capex of $275M-$295M.
- Hertz has soared to $20.12 AH. Rival Avis (NASDAQ:CAR) has risen to $45.00.
Wed, Jul. 15, 8:00 AM
Fri, Jun. 19, 3:09 PM
- Global carpool platform Blablacar seeks funding that would value the company at $1B, according to Bloomberg.
- The Paris-based company is following in the footsteps of Uber (Pending:UBER) and GSV Capital (NASDAQ:GSVC)-owned Lyft in firing off aggressive capital raises in front of market expansion.
- Blablacar already scaled up after purchasing Carpooling.com and AutoHop earlier this year.
- Also still on the scene is ZipCar (NASDAQ:CAR) which was bought by Avis Budget in 2013. The company reportedly has a fleet of over 10K cars operating in 31 cities and more than 900K customers signed up for its subscriptions service. ZipCar is closer to a short-term rental than a rideshare firm, but competes for some of the same customers.
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