Avis Budget issues solid guidance

• Avis Budget Group (NASDAQ:CAR) is down 2.8% after Q1 revenue falls slightly short of estimates. Management noted that Avis had to battle through the government shutdown, uncertainty around Brexit and the shift of Easter to the second quarter.
• For the full year, Avis expects revenue of $9.2B to $9.5B vs. $9.3B consensus, EPS of $3.35 to $4.20 vs. $3.86 consensus and adjusted EBITDA of $750M to $850M vs. $800M consensus.
• Previously: Avis Budget beats by $0.22, misses on revenue (May 1)