=Avis Budget (CAR) reported earnings on Thur 31 Oct 19 (a/h)

Avis Budget misses by $0.68, misses on revs; reaffirms FY19 EPS guidance, lowers FY19 revenue guidance midpoint below consensus

Reports Q3 (Sep) earnings of $2.96 per share, $0.68 worse than the S&P Capital IQ Consensus of $3.64; revenues fell 0.9% year/year to $2.75 bln vs the $2.84 bln S&P Capital IQ Consensus.

Co issues guidance for FY19, sees EPS of $3.35-4.20 vs. $3.96 S&P Capital IQ Consensus; lowers FY19 revs to $9.0-9.2 bln from $9.2-9.5 bln vs. $9.2 bln S&P Capital IQ Consensus.

"Our Adjusted EBITDA margin was more than 17% for the quarter. Our Americas segment had record Adjusted EBITDA performance. Our operations achieved record Net Promoter Scores for the second quarter in a row, showing the impact of our efforts to improve our customer experience," said Larry De Shon, Avis Budget Group President and Chief Executive Officer.