Avis Budget Group Inc. Bottom Line Drops 28% In Q4

(RTTNews) - Avis Budget Group Inc. (CAR) revealed a profit for fourth quarter that decreased compared to the same period last year.

The company said its profit dropped to $18 million, or $0.18 per share. This was down from $25 million, or $0.23 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.17 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 0.5% to $1.90 billion. This was up from $1.89 billion last year.

Avis Budget Group Inc. earnings at a glance:

-Earnings (Q4): $18 Mln. vs. $25 Mln. last year. -Earnings Decline (Y-o-Y): -28.0% -EPS (Q4): $0.18 vs. $0.23 last year. -EPS Decline (Y-o-Y): -21.7% -Analysts Estimate: $0.17 -Revenue (Q4): $1.90 Bln vs. $1.89 Bln last year. -Revenue Change (Y-o-Y): 0.5%

-Guidance: Full year EPS guidance: $2.70 - $3.30 Full year revenue guidance: $8.7 - $8.85 Bln