Avis Budget Group, Inc. (NASDAQ:CAR) is reporting third quarter financial results on Thursday 29th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, CAR is expected to report 3Q20 income of $ 0.15 per share from revenue of $ 1450.01 million.
For the full year, analysts anticipate top line of $ 5398.16 million, while looking forward to loss of $ 7.44 per share bottom line.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 9,400.00 million ~ $ 9,600.00 million, where as bottomline are predicted in a range of $ 3.75 ~ $ 4.75 per share
Click Here For More Historical Outlooks Of Avis Budget Group, Inc.
Previous Quarter Performance
Avis Budget Group, Inc. unveiled loss for the second quarter of $ 5.60 per share, from the revenue of $ 760.00 million. The quarterly revenues declined 67.48 percent compared with the same quarter last year. According to street consensus, CAR was expected to report 2Q20 loss of $ 5.84 per share from revenue of $ 719.44 million. The bottom line results beat street analysts by $ 0.24 or 4.11 percent, at the same time, top line results outshined analysts by $ 40.56 million or 5.64 percent.
Stock Performance
Shares of Avis Budget Group, Inc. traded low $ -0.82 or -2.28 percent on Wednesday, reaching $ 35.16 with volume of 2.78 million shares. Avis Budget Group, Inc. has traded high as $ 35.49 and has cracked $ 33.47 on the downward trend
According to the previous trading day, closing price of $ 35.16, representing a 466.61 % increase from the 52 week low of $ 6.35 and a 32.09 % decrease over the 52 week high of $ 52.98.
The company has a market capital of $ 2.45 billion and is part of the Industrials sector and Rental & Leasing Services industry.
Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,500 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States. The company also operates the Payless brand, which comprises approximately 280 vehicle rental locations; the Apex brand that primarily in the deep-value segment of the car rental industry with approximately 30 rental locations in New Zealand and Australia; and the Maggiore brand that provides vehicle rental services in approximately 140 locations; the France Cars brand, which offers light commercial vehicle fleets with approximately 85 rental locations in France; and Turiscar brand that offers vehicle rental services in approximately 25 locations primarily for the corporate market in Portugal.
