Here's What Key Metrics Tell Us About Avis Budget (CAR) Q2 Earnings

Avis Budget Group (CAR) 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.

View all Key Company Metrics for Avis Budget here>>>

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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