Avis Budget Group (CAR) to Report Financial Results Tomorrow: Here’s What to Expect

Car rental provider Avis (NASDAQ:CAR) is set to report earnings results tomorrow after the market opens. Here’s what investors need to know.

Avis Budget Group beat analyst revenue expectations by 1.2% in the latest quarter, reporting revenue of $2.55 billion, unchanged year over year. It was a solid quarter for the company, with an impressive beat in volume.

Is Avis Budget Group a buy or sell in terms of earnings? Read our full analysis here, it’s free.

Analysts are expecting Avis Budget Group revenue to be flat year over year at $3.14 billion for the quarter, an improvement from a 3.7% decline in the same quarter last year. Adjusted earnings are expected to be $2.61 per share.

Most analysts covering the company have reaffirmed their estimates over the past 30 days, suggesting they expect the company to maintain its course toward earnings. Avis Budget Group has missed Wall Street revenue estimates three times in the past two years.

Looking at Avis Budget Group’s ground transportation competitors, some have already reported second-quarter results, which gives us a hint of what to expect. Heartland Express revenue fell 10.3% year over year, meeting analyst expectations, while XPO reported revenue growth of 8.5%, in line with consensus estimates. Heartland Express saw a 2.8% increase following the results, while XPO fell 3.4%.

Read our full analysis of Heartland Express’ results here and XPO’s results here.

Ground transportation investors are in positive spirits, with shares up an average of 2.4% over the past month. Avis Budget Group is down 17.2% in the same time frame and is heading for profit with an average analyst price target of $154.40 (compared to the current share price of $84.52).

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