Last $58.18 USD
Change Today +0.03 / 0.05%
Volume 1.8M
CAR On Other Exchanges
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

avis budget group inc (CAR) Key Developments

Avis Budget Group, Inc. Presents at Barclays Global Automotive Conference, Nov-20-2014 09:10 AM

Avis Budget Group, Inc. Presents at Barclays Global Automotive Conference, Nov-20-2014 09:10 AM. Venue: Barclays Headquarters, New York, New York, United States. Speakers: Ronald L. Nelson, Chairman, Chief Executive Officer, President, Chief Operating Officer and Chairman of Executive Committee.

Avis Budget Group, Inc. Presents at Northcoast Fall Management Forum, Nov-05-2014

Avis Budget Group, Inc. Presents at Northcoast Fall Management Forum, Nov-05-2014 . Venue: Grand Hyatt Hote, New York, New York, United States.

Avis Budget Group, Inc. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year of 2014 and 2015

Avis Budget Group, Inc. reported consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net revenues of $2,542 million compared to $2,395 million a year ago. Income before income taxes was $306 million compared to $230 million a year ago. Net income was $192 million or $1.74 per diluted share compared to $118 million or $1.02 per diluted share a year ago. Non-GAAP adjusted EBITDA was $417 million against $383 million a year ago. Non-GAAP Income before income taxes was $329 million against $293 million a year ago. Non-GAAP net income was $209 or $1.91 per diluted share million against $171 million or $1.48 per diluted share a year ago. Revenue increased 6% in third quarter 2014 compared to third quarter 2013 primarily due to a 6% increase in rental days and increased pricing in North America. Third quarter Adjusted EBITDA increased 9% to million, primarily due to higher rental volumes and increased year-over-year pricing in North America, partially offset by higher fleet costs. For nine months, the company reported net revenues of $6,598 million compared to $6,087 million a year ago. Income before income taxes was $359 million compared to $135 million a year ago. Net income was $222 million or $200 per diluted share compared to $44 million or $0.39 per diluted share a year ago. Non-GAAP adjusted EBITDA was $747 million against $654 million a year ago. Non-GAAP Income before income taxes was $477 million against $92 million a year ago. Non-GAAP net income was $302 or $2.73 per diluted share million against $238 million or $2.05 per diluted share year ago. Net cash provided by operating activities was $2,067 million. Free cash flow was $384 million. Capital expenditures were $130,000. The company provided earnings guidance for the full year of 2014. The company expects revenue to be approximately $8.5 billion, a roughly 7% increase compared to 2013. In the Company's North America segment, rental days are expected to increase 6% to 7%, and pricing is expected to increase 2% to 3% in constant currency in 2014. Movements in currency exchange rates have reduced the Company's projected 2014 revenue by nearly $75 million over the last three months. Adjusted EBITDA will increase 12% to 15%, to approximately $860 million to $885 million. Pretax income will be approximately $500 million to $525 million, excluding certain items. Its effective tax rate in 2014 will be approximately 37%, excluding certain items, and its diluted share count will be 110 to 111 million, including the effect of repurchasing $300 million to $330 million of outstanding shares in 2014. The company estimates that its 2014 diluted earnings per share, excluding certain items, will increase 28% to 36% compared to 2013, to $2.82 to $3.00. The company estimate nonfleet capital expenditures to total around $190 million in 2014. The company expects free cash flow to be approximately $415 million. The company also continues to target $1 billion or more of Adjusted EBITDA in 2015.

Avis Budget Group, Inc. to Report Q3, 2014 Results on Oct 29, 2014

Avis Budget Group, Inc. announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Oct 29, 2014

Avis Budget Group, Inc., Q3 2014 Earnings Call, Oct 30, 2014

Avis Budget Group, Inc., Q3 2014 Earnings Call, Oct 30, 2014

 

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Valuation CAR Industry Range
Price/Earnings 32.1x
Price/Sales 0.7x
Price/Book 8.2x
Price/Cash Flow 16.7x
TEV/Sales NM Not Meaningful
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