Avis Budget Group (CAR) Tops Q4 EPS by 1c; Guides FY16 EPS Below the Street

Avis Budget Group (NASDAQ: CAR) reported Q4 EPS of $0.18, $0.01 better than the analyst estimate of $0.17. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.92 billion.

GUIDANCE:

Avis Budget Group sees FY2016 EPS of $2.70-$3.30, versus the consensus of $3.43. Avis Budget Group sees FY2016 revenue of $8.7-8.85 billion, versus the consensus of $8.77 billion.

“We had record results in 2015, successfully overcoming substantial exchange-rate headwinds and softer-than-expected growth in commercial demand. We also returned nearly $400 million of cash to stockholders this year in the form of share repurchases, reflecting the confidence we have in our long-term growth prospects,” said Larry De Shon, Avis Budget Group Chief Executive Officer. “Our 2016 earnings outlook reflects incremental investments we are making in our business to enhance the customer experience we offer and expand our long-term margins.”

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

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