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Tuesday, August 7, 2018

=Avis Budget (CAR) reported earnings on Tue 7 Aug 2018 (a/h)

Avis Budget reports EPS in-line, revs in-line; guides FY18 EPS in-line, revs in-line; adds to buyback 
  • Reports Q2 (Jun) earnings of $0.57 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.57; revenues rose 4.0% year/year to $2.33 bln vs the $2.35 bln Capital IQ Consensus.
  • Co issues in-line guidancefor FY18, sees EPS of $3.00-3.85 (Prior $2.90-3.75), excluding non-recurring items, vs. $3.54 Capital IQ Consensus Estimate; sees FY18 revs of $9.05-9.3 bln (Prior $9.2-9.45 bln) vs. $9.24 bln Capital IQ Consensus Estimate.
  • The Company also announced that its share repurchase authorization has been increased by an additional $250 million, which gives it $283 million of available repurchase authorization from July 1, 2018 going forward.

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