Avis Budget Group Inc. First Quarter Earnings Sneak Peek

Avis Budget Group, Inc. (NASDAQ:CAR) will unveil its latest earnings on Monday, May 7, 2012. Avis Budget Group provides car and truck rentals and ancillary services to businesses and consumers in the United States and internationally.

Avis Budget Group, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net loss of 18 cents per share, a spike from net income of 11 cents in the year-ago quarter. During the past three months, the average estimate has moved down from 18 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at a loss of 18 cents during the last month. Analysts are projecting profit to rise by 6.1% compared to last year’s $1.55.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the fourth quarter of the last fiscal year, the company reported a loss of 14 cents per share versus a mean estimate of profit of 6 cents per share. In the third quarter of the last fiscal year, the company beat estimates by 3 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 28.2% in revenue from the year-earlier quarter to $1.59 billion.

Analyst Ratings: three out of four analysts surveyed (75%) have a buy rating on Avis Budget Group. This falls short of the analyst rating of eight competitors, which average 80% buy ratings.

A Look Back: In the fourth quarter of the last fiscal year, the company’s loss widened to a loss of a $170 million ($1.42 a share) from a loss of $24 million (17 cents) a year earlier, missing analyst expectations. Revenue rose 33% to $1.63 billion from $1.23 billion.

Key Stats:

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 7.1% in the first quarter of the last fiscal year, 9.1% in the second quarter of the last fiscal year and 7.3% in the third quarter of the last fiscal year before increasing again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between April 25, 2012 and May 1, 2012, the stock price rose $3.33 (27%), from $12.34 to $15.67. The stock price saw one of its best stretches over the last year between October 3, 2011 and October 12, 2011, when shares rose for eight straight days, increasing 35% (+$3.11) over that span. It saw one of its worst periods between November 15, 2011 and November 25, 2011 when shares fell for eight straight days, dropping 18% (-$2.47) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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