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Stockreport

Avis Budget Group Announces Estimated Full-Year 2017 Results

AVIS BUDGET GROUP (CAR)  More Company Research Source: GlobeNewswire
Last avis budget group earnings: 11/6 04:15 pm Check Earnings Report
PDF PARSIPPANY, N.J., Jan. 16, 2018 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ:CAR) announced today that, based on preliminary data, it estimates that for the full-year ended December 31, 2017, revenues increased to approximately $8.85 billion, and it expects pretax income to be between $205 million and $215 million and Adjusted pretax income to be between $340 million and $350 million.  The Company also expects Adjusted EBITDA to be within a range of $730 million to $740 million.  A reconciliation from pretax income to both Adjusted pretax income and Adjusted EBITDA, together with other information regarding these non-GAAP financial measures, is included in “Non-GAAP Financial Measures” below. “Over the past two years we were confronted with nearly $300 million of unexpected pricing and fleet cost challenges.  In the face of these extraordinary market pressures, we took decisive steps to reduce costs, including implementing voluntary retirement programs and other actions that [Read more]

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