News & Events:CAR

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Pulled from Benzinga Pro data, Avis Budget Group posted Q1 earnings of $527.00 million, an increase from Q4 of 38.32%. Sales dropped to $2.43 billion, a 5.33% decrease between quarters. Return on Invested Capital is a measure of yearly pre-tax profit relative to capital invested by a business.

Avis Budget Group Inc shares are trading higher Tuesday after the company reported strong financial results. Avis Budget Group said first-quarter revenue increased 77% year-over-year to $2.4 billion, which beat the $2.11 billion estimate. The company reported quarterly adjusted earnings of $9.99 per share, which was up from a loss of 46 cents per share in the prior year quarter.

Avis Budget Group Inc shares are trading higher in Monday's after-hours session after the company reported strong financial results. Avis said first-quarter revenue increased 77% year-over-year to $2.4 billion, which beat the $2.11 billion estimate, according to data from Benzinga Pro.

Avis Budget Group Inc (CAR): * AVIS BUDGET GROUP REPORTS RECORD FIRST QUARTER RESULTS. * Q1 REVENUE $2.4 BILLION. * Q1 REVENUE VIEW $2.08 BILLION -- REFINITIV IBES DATA. * QTRLY EARNINGS PER SHARE $9.71. * QTRLY ADJUSTED EARNINGS PER SHARE DILUTED $9.99. * Q1 EARNINGS PER SHARE VIEW $3.45 -- REFINITIV IBES DATA Source text for Eikon: Further company coverage:

Avis Budget Group, Inc. (CAR) today announced financial results for first quarter 2022. We ended the quarter with revenues 77% above the first quarter 2021, at $2.4 billion. Net income was $527 million and our Adjusted EBITDA was $810 million, our best first quarter Adjusted EBITDA in our history.

Avis Budget Group is set to give its latest quarterly earnings report on Monday, 2022-05-02. Analysts estimate that Avis Budget Group will report an earnings per share of $3.45. Avis Budget Group bulls will hope to hear the company to announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.

For Avis Budget Group Inc, Barclays upgraded the previous rating of Underweight to Equal-Weight. According to Needham, the prior rating for Netflix Inc was changed from Underperform to Hold. According to Raymond James, the prior rating for The Travelers Companies Inc was changed from Underperform to Market Perform. For Snap Inc, Citigroup upgraded the previous rating of Neutral to Buy.

Conference Call to Discuss Results Scheduled for May 3rd, 2022 Avis Budget Group, Inc. (CAR) announced today that it plans to report its first quarter 2022 results after the market close on Monday, May 2nd, 2022, and to host a conference call for institutional investors to discuss these results on Tuesday, May 3rd, 2022 at 8:30 a.m. Eastern time.

Avis Budget Group Inc's short percent of float has risen 14.23% since its last report. Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock.

  Don't forget to check out our premarket coverage here .

Don't forget to check out our premarket coverage here .

According to Morgan Stanley, the prior rating for Royalty Pharma PLC was changed from Equal-Weight to Overweight. According to Keefe, Bruyette & Woods, the prior rating for PJT Partners Inc was changed from Market Perform to Outperform. Guggenheim upgraded the previous rating for Array Technologies Inc from Neutral to Buy.

Avis Budget Group Inc (CAR): * Avis Budget Group Inc (CAR) - ON MARCH 24, CO, UNITS ENTERED INTO AMENDMENT NO. * AVIS BUDGET GROUP (CAR) - AMENDMENT INCREASED EXISTING TRANCHE C TERM LOANS UNDER SIXTH A&R CREDIT AGREEMENT TO $750 MILLION Source text for Eikon: Further company coverage:

58 Biggest Movers From Friday

Two U.S. House Democratic lawmakers on Friday asked Hertz Global Holdings (HTZ), and Avis Budget Group (CAR) to answer questions about rising rental car prices and higher industry profits.

Two U.S. House Democratic lawmakers on Friday asked Hertz Global Holdings (HTZ), and Avis Budget Group (CAR) to answer questions about rising rental car prices and higher industry profits.

45 Stocks Moving In Friday's Mid-Day Session

The $100 billion Western rental car industry, flush with cash from a profitable pandemic, is gradually getting its electric show on the road, and Chinese-made vehicles are poised to play a starring role. The electric transition could see car fleets, long dominated by famed marques from the United States and Europe, increasingly switch towards Asian automakers, according to a European executive.