Avis Budget Group (NASDAQ:CAR) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$3.05b (down 2.4% from 2Q 2023).

• Net income: US$14.0m (down 97% from 2Q 2023).

• Profit margin: 0.5% (down from 14% in 2Q 2023). The decrease in margin was primarily driven by higher expenses.

• EPS: US$0.39 (down from US$11.13 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Avis Budget Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 83%.

Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Transportation industry in the US.

Performance of the American Transportation industry.

The company's shares are down 13% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Avis Budget Group (2 are concerning!) that you need to take into consideration.

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