Avis Budget Group (CAR) Tops Q3 EPS by 98c

Avis Budget Group (NASDAQ: CAR) reported Q3 EPS of $1.13, $0.98 better than the analyst estimate of $0.15. Revenue for the quarter came in at $1.53 billion versus the consensus estimate of $1.45 billion.

• Removes an Additional $1 Billion of Expenses in Third Quarter

• Despite revenue being down 44% compared to the same period in the prior year, we achieved positive Adjusted EBITDA of $220 million in the third quarter through cost removal actions and sizing fleet to demand by selling over 100,000 vehicles globally. During the quarter we removed approximately $1 billion of costs, bringing the total to $2 billion year to date, and we are now on track to deliver more than $2.5 billion of cost removal for the full year.

For earnings history and earnings-related data on Avis Budget Group (CAR) click here.

You May Also Be Interested In

• Lockheed Martin (LMT) Tops Q1 EPS by 53c, Beats on Revenue; Offers FY24 Guidance
• Webster Financial (WBS) Misses Q1 EPS by 6c
• Popular (BPOP) Misses Q1 EPS by 45c