=Avis Budget (CAR) reported earnings on Wed 21 Feb 2018 (a/h)

Avis Budget beats by $0.23, beats on revs; guides FY18 EPS in-line, revs in-line(38.96 -0.98)

• Reports Q4 (Dec) earnings of $0.45 per share, excluding non-recurring items, $0.23 better than the Capital IQ Consensus of $0.22; revenues rose 7.5% year/year to $2.02 bln vs the $2 bln Capital IQ Consensus.
• Co issues in-line guidance for FY18, sees EPS of $2.90-3.05, excluding non-recurring items, vs. $3.02 Capital IQ Consensus Estimate; sees FY18 revs of $9.20-9.45 bln vs. $9.08 bln Capital IQ Consensus Estimate.
  • Adjusted EBITDA in the range of $740-820 mln.
  • Adjusted Free Cash Flow $325-375 mln.
  • Americas Total revenue per day Flat to +2.0% y/y
  • International revenue per day -2.0% to Flat