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Avis Budget Group Inc (CAR.OQ)

CAR.OQ on NASDAQ Stock Exchange Global Select Market

22.05USD
26 May 2017
Change (% chg)

$-0.33 (-1.47%)
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Latest Key Developments (Source: Significant Developments)

AVIS CAR RENTAL EXPANDS FLEET OF CONNECTED CARS
Monday, 22 May 2017 10:30am EDT 

May 22 (Reuters) - Avis Budget Group Inc :AVIS CAR RENTAL EXPANDS FLEET OF CONNECTED CARS.INITIATIVE WILL RESULT IN 50,000 MORE VEHICLES BECOMING FULLY CONNECTED CARS BY EARLY 2018.  Full Article

Avis Budget Group announces resignation of CFO David Wyshner
Friday, 12 May 2017 04:41pm EDT 

May 12 (Reuters) - Avis Budget Group Inc ::Avis Budget Group announces resignation of David Wyshner, president and CFO.Company intends to appoint Martyn Smith, to serve as interim chief financial officer.Avis Budget Group Inc says is conducting a search to fill CFO position on a permanent basis.  Full Article

Avis budget group says as of March 31, company terminated ABOUT 240 employees
Thursday, 4 May 2017 10:48am EDT 

May 4 (Reuters) - Avis Budget Group Inc :Avis Budget Group says during march quarter, as part of restructuring process, co formally communicated termination of employment to about 335 employees.Avis Budget Group says as of March 31, 2017, company had terminated approximately 240 of these employees.Avis Budget Group says expects further restructuring expense of about $40 million related to restructuring initiative to be incurred in 2017.  Full Article

Avis Budget Group Q1 adjusted loss per share $0.94
Wednesday, 3 May 2017 04:20pm EDT 

May 3 (Reuters) - Avis Budget Group Inc :Avis Budget Group reports first quarter 2017 results.Q1 adjusted loss per share $0.94.Q1 loss per share $1.25.Q1 revenue $1.8 billion versus I/B/E/S view $1.88 billion.Q1 earnings per share view $-0.52 -- Thomson Reuters I/B/E/S.Sees FY 2017 adjusted earnings per share $2.85 to $3.50.Avis budget group inc - updates its 2017 adjusted EBITDA and adjusted earnings per share estimates.Avis budget group inc - expects full-year 2017 revenue will increase 2% to 3%, to $8.8 to $8.95 billion.Total company per-unit fleet costs are expected to be $285 to $295 per month in 2017.Fy2017 earnings per share view $3.23, revenue view $8.84 billion -- Thomson Reuters I/B/E/S.Avis Budget Group Inc- estimates that its 2017 adjusted diluted earnings per share will be $2.85 to $3.50.Avis Budget Group Inc - adjusted ebitda is expected to be $800 million to $880 million in 2017.Avis Budget Group Inc- continues to expect that it will generate $450 to $500 million of adjusted free cash flow in 2017.2017 international segment revenue is expected to grow 4% to 7%.Avis Budget Group- in 2017, expect will generate $450 to $500 million of adjusted free cash flow,will repurchase $300 million or more of common stock.  Full Article

Avis Budget Group signs cooperation agreement with SRS Investment
Wednesday, 3 May 2017 04:15pm EDT 

May 3 (Reuters) - Avis Budget Group Inc :Avis Budget Group enters into new cooperation agreement with SRS Investment Management.Avis Budget Group Inc- company also announced that, effective may 3, 2017, it is terminating stockholder rights plan it adopted earlier this year.Avis Budget Group - brian choi, srs's representative, and sanoke viswanathan, a mutually agreed-upon independent director, will remain on board..Avis Budget Group - under terms srs agreed to standstill and voting commitments until jan 2018, will vote all of its shares in favor of co's nominees.  Full Article

Avis Budget completes deal to operate Budget brand in Poland
Monday, 10 Apr 2017 04:30pm EDT 

Avis Budget Group Inc : Avis Budget Group completes transaction to operate budget in Poland . Terms of transaction were not disclosed .Avis Budget Group - deal will add over 300 vehicles to Avis Budget Group fleet and seven airport rental locations, including Warsaw, Krakow, Gdansk.  Full Article

Par Investment Partners LP reports a 5.6 pct passive stake in Avis Budget Group as of March 30 - SEC Filing
Friday, 7 Apr 2017 04:13pm EDT 

Avis Budget Group Inc :Par Investment Partners LP reports a 5.6 percent passive stake in Avis Budget Group as of March 30 - SEC Filing.  Full Article

Avis Budget Group on March 15, unit Avis Budget Rental Car funding issued $600 mln of asset-backed securities with maturity of 5 years
Tuesday, 21 Mar 2017 04:52pm EDT 

Avis Budget Group Inc : Avis Budget Group Inc- on March 15, unit avis budget rental car funding issued $600 million of asset-backed securities with a maturity of five years .Avis Budget Group Inc - unit also issued $33.1 million aggregate principal amount of series 2017-1 6.75% class r notes - sec filing.  Full Article

Avis Budget Group CEO De Shon Larry's 2016 total compensation was $6.53 mln
Tuesday, 21 Mar 2017 04:50pm EDT 

Avis Budget Group Inc - : CEO De Shon Larry's fy 2016 total compensation $6.53 million versus $8.9 million in fy 2015 - SEC filing . Executive chairman Nelson Ronald's fy 2016 total compensation $3.3 million versus $11.2 million in fy 2015 .CFO David Wyshner's 2016 total compensation $3.9 million versus $6.1 million in 2015 - SEC filing.  Full Article

I.D. Systems enters purchase deal with Avis Budget Group
Monday, 20 Mar 2017 08:30am EDT 

Avis Budget Group Inc : I.D. Systems- co, Avis Budget Group executed purchase agreement for deployment of i.d. Systems' proprietary wireless rental fleet management systems . I.D. Systems - first phase of new purchase agreement will incorporate i.d. Systems' technology into 50,000 avis budget vehicles . I.D. Systems inc - received upfront payment, which it will allocate toward development of additional system enhancements as well as ramping production . I.D. Systemsinc - exclusive agreement also provides avis budget an option to extend system deployment across its global fleet of vehicles .I.D. Systems- agreement provides avis budget with limited term of exclusivity for use of i.d. Systems' technology in car and truck rental industry.  Full Article

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BRIEF-Avis Budget Group and its certain subsidiaries enters into an ninth master amendment

* On May 16, 2017, certain subsidiaries of co entered into an ninth master amendment and restatement deed - SEC filing