Here's What Key Metrics Tell Us About Avis Budget (CAR) Q2 Earnings
Avis Budget Group (CAR) reported $3.12 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 3.7%. EPS of $11.01 for the same period compares to $15.94 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.21 billion, representing a surprise of -2.67%. The company delivered an EPS surprise of +12.46%, with the consensus EPS estimate being $9.79.
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: $168 per unit fleet cost per month versus the three-analyst average estimate of $205 per unit fleet cost per month.
Per-Unit Fleet Costs - International: $219 per unit fleet cost per month versus the three-analyst average estimate of $233.1 per unit fleet cost per month.
Per-Unit Fleet Costs - Total: $182 per unit fleet cost per month compared to the $212.6 per unit fleet cost per month average estimate based on three analysts.
Rental days - International: 11504 Days versus the three-analyst average estimate of 12219.08 Days.
Rental days - Total - Car Rental: 44212 Days versus 45140.51 Days estimated by three analysts on average.
Average rental fleet - Americas: 506232 versus the three-analyst average estimate of 515305.4.
Average rental fleet - Total - Car Rental: 689483 compared to the 705648.2 average estimate based on three analysts.
Revenue per day - International: $60.47 versus $60.75 estimated by three analysts on average.
Rental days - Americas: 32708 Days versus 32921.43 Days estimated by three analysts on average.
Revenue per day - Americas: $74.23 versus $73.71 estimated by three analysts on average.
Geographic Revenue- International: $695 million versus $741.64 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2.7% change.
Geographic Revenue- Americas: $2.43 billion compared to the $2.43 billion average estimate based on three analysts. The reported number represents a change of -5.4% year over year.
View all Key Company Metrics for Avis Budget here>>>
Shares of Avis Budget have returned -2.7% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report
