Earnings Preview: Avis Budget Group

| About: Avis Budget (CAR)

Avis Budget Group (NASDAQ:CAR) is expected to report Q4 earnings Wednesday, February 25 after market close with a conference call scheduled for Thursday, February 26 at 9:00 am ET.


Analysts are looking for EPS of (47c) on revenue of $1.26B. The consensus range is (99c)-(18c) for EPS, and $1.26B for revenue, according to First Call. The company announced when it reported its Q3 results it would not give new FY08 estimates. Since the company last reported its shares have dropped -72.31% to 54c from $1.94. Avis Budget Group chairman and CEO Ronald L. Nelson stated in December "Since unveiling our five-point plan, we have taken immediate action and remain on track to lower our cost base by approximately $150M-$200M annually by the middle of 2009, which is in addition to the $50M in annual savings initiated in Q3. While these are difficult steps to take, we are committed to ensuring that we adjust our business in response to the economic conditions in which we are currently operating."

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Tagged: , Rental & Leasing Services, Earnings
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