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Avis Budget Group Inc Reaffirms FY 2013 Revenue Guidance; Lowers High End Of Prior FY 2013 EBITDA Guidance To A Range Below Analysts' Estimates; Raises FY 2013 EPS Guidance

Tuesday, 6 Aug 2013 04:15pm EDT 

Avis Budget Group Inc announced that for fiscal 2013, it continues to expect revenue to be approximately $7.8 billion to $8.0 billion, expects its Adjusted EBITDA to be approximately $750 million to $800 million, excluding certain items. The narrowing of the Company's projected Adjusted EBITDA range from its initial expectation reflects better-than-expected pricing trends in North America, offset by lower vehicle residual values in North America and weak economic conditions in Europe and Australia. the Company estimates that its 2013 diluted earnings per share, excluding certain items, will be approximately $2.05 to $2.35. According to I/B/E/S estimates, analysts were expecting the Company to report revenues of $7.9 billion and EBITDA of $813 million for fiscal 2013. 

Company Quote

26 Jan 2015