Avis Budget (CAR) Gains 28% Despite Earnings Miss in Q1

Zacks05-09

Avis Budget Group, Inc. CAR reported mixed first-quarter 2024 results, wherein earnings missed the Zacks Consensus Estimate but revenues beat the same. The stock has gained 28.3% since its earnings ...

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CAR reported mixed first-quarter 2024 results, wherein earnings missed the Zacks Consensus Estimate but revenues beat the same.\nThe stock has gained 28.3% since its earnings ...</p>\n\n<a href=\"https://finance.yahoo.com/news/avis-budget-car-gains-28-173700567.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Avis Budget (CAR) Gains 28% Despite Earnings Miss in Q1</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAvis Budget (CAR) Gains 28% Despite Earnings Miss in Q1\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-09 01:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/avis-budget-car-gains-28-173700567.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Avis Budget Group, Inc. CAR reported mixed first-quarter 2024 results, wherein earnings missed the Zacks Consensus Estimate but revenues beat the same.\nThe stock has gained 28.3% since its earnings ...</p>\n\n<a href=\"https://finance.yahoo.com/news/avis-budget-car-gains-28-173700567.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CAR","symbol_name":"安飞士","start_time":0,"source_url":"https://finance.yahoo.com/news/avis-budget-car-gains-28-173700567.html","article_id":"2434177045","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/cXQc0w.1kdgX4Yco1DjyAw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/bff1ac2bc7d02c981030191e7b95e72e"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2434177045","pubTimestamp":1715189820,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Avis Budget Group, Inc. CAR reported mixed first-quarter 2024 results, wherein earnings missed the Zacks Consensus Estimate but revenues beat the same.The stock has gained 28.3% since its earnings release on May 1 despite the earnings miss.CAR’s adjusted loss was $3.2 per share compared with the Zacks Consensus Estimate of a loss of $3.15 and year-ago earnings of $7.72. Total revenues of $2.6 billion beat the consensus estimate by a slight margin but decreased marginally year over year.Avis Budget’s shares have lost 1.6% over the past month compared with the marginal decline of the industry it belongs to.Avis Budget exited the first quarter with cash and cash equivalents of $522 million compared with $555 million at the end of fourth-quarter 2023. Corporate debt amounted to $5.4 billion compared with $4.82 billion reported in the preceding quarter.Avis Budget currently carries a Zacks Rank #4 .Want the latest recommendations from Zacks Investment Research?","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CAR":"安飞士","TT":"Trane技术","APTV":"Aptiv PLC","EFX":"艾可菲"},"translate_title":"安飞士预算（汽车）增长28%，尽管Q1盈利不佳","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CAR":1,"APTV":0.9,"EFX":0.9,"TT":0.9},"content_text":"Avis Budget Group, Inc. CAR reported mixed first-quarter 2024 results, wherein earnings missed the Zacks Consensus Estimate but revenues beat the same.\nThe stock has gained 28.3% since its earnings release on May 1 despite the earnings miss.\nCAR’s adjusted loss was $3.2 per share compared with the Zacks Consensus Estimate of a loss of $3.15 and year-ago earnings of $7.72. Total revenues of $2.6 billion beat the consensus estimate by a slight margin but decreased marginally year over year.\nAvis Budget’s shares have lost 1.6% over the past month compared with the marginal decline of the industry it belongs to.\n\nAvis Budget Group, Inc. Price and EPS Surprise\n  \nAvis Budget Group, Inc. price-eps-surprise | Avis Budget Group, Inc. Quote\n\nSegmental Revenues\nRevenues from Americas amounted to $2 billion, reflecting a decrease of 1% from the year-ago quarter. The metric was in line with our estimate.\nInternational revenues were $558 million, up 3% year over year. The figure missed our estimation of $567.1 million.\nProfitability\nAdjusted EBITDA was $12 million, down 98% from fourth-quarter 2023. The Americas segment reported an adjusted EBITDA of $44 million, which declined 91% from the year-ago quarter. Internationally, adjusted EBITDA loss was reported to be $15 million, down more than 100% from the year-ago quarter.\nBalance Sheet and Cash Flow\nAvis Budget exited the first quarter with cash and cash equivalents of $522 million compared with $555 million at the end of fourth-quarter 2023. Corporate debt amounted to $5.4 billion compared with $4.82 billion reported in the preceding quarter.\nCAR generated $589 million in net cash from operating activities. Adjusted free cash flow utilized amounted to $639 million. Capital expenditures were $56 million.\nAvis Budget currently carries a Zacks Rank #4 (Sell).\nYou can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nEarnings Snapshot\nEquifax Inc. EFX reported mixed first-quarter results.\nEFX’s adjusted earnings (excluding 50 cents from non-recurring items) were $1.5 per share, beating the Zacks Consensus Estimate by 4.2% and increasing 4.9% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 6.7% from the year-ago quarter.\nAptiv PLC APTV reported mixed first-quarter 2024 results.\nAPTV’s quarterly adjusted earnings of $1.16 per share beat the Zacks Consensus Estimate by 10.5% and increased 27.5% year over year. Revenues of $4.9 billion missed the consensus estimate by 1.7% but increased 1.7% year over year.\nTrane Technologies plc TT reported better-than-expected first-quarter results.\nTT’s adjusted earnings per share of $1.94 surpassed the Zacks Consensus Estimate by 18.3% and increased 37.6% year over year. Revenues of $4.2 billion beat the consensus mark by 5.7% and increased 15% year over year on a reported basis and 14% organically.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nAvis Budget Group, Inc. (CAR) : Free Stock Analysis Report\nEquifax, Inc. (EFX) : Free Stock Analysis Report\nTrane Technologies plc (TT) : Free Stock Analysis Report\nAptiv PLC (APTV) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434177045"}