Avis Budget Group (CAR) to Report Q4 Earnings After Market Close

Avis Budget Group (NASDAQ: CAR) will release fourth-quarter results on Wednesday after markets close. In the prior quarter, revenue totaled $3.52 billion, a 1.1% year-on-year increase and 1.8% above consensus. Adjusted operating income and EBITDA surpassed estimates. Available rental days reached 68.65 million, up 1.4% year-on-year. Analysts forecast revenue of $2.74 billion, up 1.3% year-on-year, with adjusted loss of -$0.38 per share. Estimates have remained stable over the past 30 days. Avis has missed revenue expectations five times in the past two years. Peer XPO grew revenue 4.7% year-on-year, beating estimates by 2.9%, while Old Dominion Freight Line's revenue fell 5.7%, in line with consensus. Post-earnings, XPO shares rose 13.4% and Old Dominion gained 6.5%. The ground transportation sector has risen 8.1% in the past month. Avis is down 2% and trades at $119, below the average price target of $139.43.