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Wednesday, February 20, 2019

=Avis Budget (CAR) reported earnings on Wed 20 Feb 2019 (a/h)

Avis Budget beats by $0.20, reports revs in-line; guides FY19 EPS in-line, revs in-line
  • Reports Q4 (Dec) earnings of $0.53 per share, excluding non-recurring items, $0.20 better than the S&P Capital IQ Consensus of $0.33; revenues rose 1.5% year/year to $2.05 bln vs the $2.05 bln S&P Capital IQ Consensus.
  • Americas per-unit fleet costs were 7% lower for both the quarter and the year excluding exchange rate effects.
  • Co issues in-line guidance for FY19, sees EPS of $3.35-4.20, excluding non-recurring items, vs. $3.78 S&P Capital IQ Consensus; sees FY19 revs of $9.2-9.5 bln vs. $9.32 bln S&P Capital IQ Consensus.
    • Also sees FY19 adjusted EBITDA of $750-850 million.
    • Adjusted free cash flow of $250-300 million.

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