Avis Budget profitability drops on higher fleet costs

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Teka77/iStock Editorial via Getty Images Higher fleet costs and less revenue per day drove down profitability for Avis Budget Group (NASDAQ:CAR) to $6.65 per share from $16.78 per share a year ago, $...

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Ferraro added that the holidays look strong for the car rental company, and “we believe we are well positioned to capitalize on this demand,”  By region, revenue fell 4% in the Americas as revenue per day was down 1% and per-unit fleet costs per month increased 75%. International revenue increased by just 1% as the company made up for higher fleet costs by more efficient use of its f","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CAR":"安飞士","BK4022":"陆运","BK4230":"旅客陆运"},"translate_title":"Avis预算盈利能力因机队成本上升而下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CAR":0.9},"content_text":"Teka77/iStock Editorial via Getty Images Higher fleet costs and less revenue per day drove down profitability for Avis Budget Group (NASDAQ:CAR) to $6.65 per share from $16.78 per share a year ago, $1.81 less than Wall Street expected, while revenue decreased by 2.2% to $3.48B, a miss of $50M.  “We maintained a strong focus on pricing throughout the quarter, prioritizing higher margin business which allowed us to keep our revenue per day stable with the Americas nearly flat,” said CEO Joe Ferraro, confirming that the addition of model year 2025 cars will increase efficiency as they are rotated into the current fleet.  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