Avis Budget (CAR) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Avis Budget Group (CAR) reported revenue of $3.56 billion, up 0.5% over the same period last year. EPS came in at $16.78, compared to $21.70 in the year-ago quarter.
The reported revenue represents a surprise of -0.30% over the Zacks Consensus Estimate of $3.57 billion. With the consensus EPS estimate being $14.54, the EPS surprise was +15.41%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Avis Budget performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Per-Unit Fleet Costs - Americas: $219 per unit fleet cost per month compared to the $202 per unit fleet cost per month average estimate based on three analysts.
Per-Unit Fleet Costs - International: $254 per unit fleet cost per month versus the three-analyst average estimate of $236.2 per unit fleet cost per month.
Per-Unit Fleet Costs - Total: $228 per unit fleet cost per month compared to the $211.6 per unit fleet cost per month average estimate based on three analysts.
Rental days - International: 13,160 Days versus 13,885.73 Days estimated by three analysts on average.
Rental days - Total - Car Rental: 48,830 Days compared to the 48,645.52 Days average estimate based on three analysts.
Average rental fleet - International: 202,700 compared to the 222,209 average estimate based on three analysts.
Average rental fleet - Total - Car Rental: 754,439 versus the three-analyst average estimate of 753,362.
Average rental fleet - Americas: 551,739 compared to the 531,154 average estimate based on three analysts.
Revenue per day - International: $62.86 compared to the $65.39 average estimate based on three analysts.
Rental days - Americas: 35,670 Days compared to the 34,759.79 Days average estimate based on three analysts.
Geographic Revenue- International: $828 million compared to the $909.55 million average estimate based on three analysts. The reported number represents a change of -1.9% year over year.
Geographic Revenue- Americas: $2.74 billion versus $2.67 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.2% change.
View all Key Company Metrics for Avis Budget here>>>
Shares of Avis Budget have returned -3.6% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report
