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Here's What Key Metrics Tell Us About Avis Budget (CAR) Q2 Earnings
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Avis Budget Group (CAR - Free Report) reported $3.05 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 2.4%. EPS of $0.41 for the same period compares to $11.01 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.18 billion, representing a surprise of -4.01%. The company delivered an EPS surprise of -84.23%, with the consensus EPS estimate being $2.60.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
Rental days - Americas
: 32,940 Days compared to the 34,144.77 Days average estimate based on three analysts.
Revenue per day - Americas
: $71.67 versus $72.30 estimated by three analysts on average.
Average rental fleet - Americas
: 515,852 versus the three-analyst average estimate of 537,579.
Per-Unit Fleet Costs - Americas
: $361 per unit fleet cost per month compared to the $320.8 per unit fleet cost per month average estimate based on three analysts.
Rental days - International
: 12,094 Days versus 11,925.88 Days estimated by three analysts on average.
Revenue per day - International
: $56.85 versus $59.47 estimated by three analysts on average.
Average rental fleet - International
: 189,293 versus the three-analyst average estimate of 188,103.
Vehicle Utilization - International
: 70.2% versus the three-analyst average estimate of 69.4%.
Per-Unit Fleet Costs - International
: $305 per unit fleet cost per month versus $303.5 per unit fleet cost per month estimated by three analysts on average.
Rental days - Total - Car Rental
: 45,034 Days versus the three-analyst average estimate of 46,070.65 Days.
Geographic Revenue- International
: $687 million versus the three-analyst average estimate of $709.10 million. The reported number represents a year-over-year change of -1.2%.
Geographic Revenue- Americas
: $2.36 billion compared to the $2.47 billion average estimate based on three analysts. The reported number represents a change of -2.8% year over year.
Shares of Avis Budget have returned -19.7% over the past month versus the Zacks S&P 500 composite's -2.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Avis Budget (CAR) Q2 Earnings
Avis Budget Group (CAR - Free Report) reported $3.05 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 2.4%. EPS of $0.41 for the same period compares to $11.01 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.18 billion, representing a surprise of -4.01%. The company delivered an EPS surprise of -84.23%, with the consensus EPS estimate being $2.60.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
View all Key Company Metrics for Avis Budget here>>>Rental days - Americas
: 32,940 Days compared to the 34,144.77 Days average estimate based on three analysts.Revenue per day - Americas
: $71.67 versus $72.30 estimated by three analysts on average.Average rental fleet - Americas
: 515,852 versus the three-analyst average estimate of 537,579.Per-Unit Fleet Costs - Americas
: $361 per unit fleet cost per month compared to the $320.8 per unit fleet cost per month average estimate based on three analysts.Rental days - International
: 12,094 Days versus 11,925.88 Days estimated by three analysts on average.Revenue per day - International
: $56.85 versus $59.47 estimated by three analysts on average.Average rental fleet - International
: 189,293 versus the three-analyst average estimate of 188,103.Vehicle Utilization - International
: 70.2% versus the three-analyst average estimate of 69.4%.Per-Unit Fleet Costs - International
: $305 per unit fleet cost per month versus $303.5 per unit fleet cost per month estimated by three analysts on average.Rental days - Total - Car Rental
: 45,034 Days versus the three-analyst average estimate of 46,070.65 Days.Geographic Revenue- International
: $687 million versus the three-analyst average estimate of $709.10 million. The reported number represents a year-over-year change of -1.2%.Geographic Revenue- Americas
: $2.36 billion compared to the $2.47 billion average estimate based on three analysts. The reported number represents a change of -2.8% year over year.Shares of Avis Budget have returned -19.7% over the past month versus the Zacks S&P 500 composite's -2.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.