Reports Q1 revenue $2.55B, consensus $2.41B. “The strong travel demand from last year continued into the first quarter with record volume in the Americas as well as improved pricing trends as the quarter progressed,” said Joe Ferraro, Avis Budget Group Chief Executive Officer. “We took the necessary actions to get our fleet size in-line by disposing a record number of vehicles in the quarter allowing us to exit March with utilization in-line with prior year. The steps we have taken in the first quarter set us up well to take advantage of the peak spring and summer travel seasons.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAR:
- Avis Budget price target lowered to $117 from $145 at Susquehanna
- Avis Budget Group (CAR) Q1 Earnings Cheat Sheet
- Avis Budget Group to Announce First Quarter 2024 Results on May 1st
- Avis Budget price target lowered to $183 from $202 at Deutsche Bank
- Avis Budget price target lowered to $187 from $190 at Morgan Stanley