logo
Share SHARE
FONT-SIZE Plus   Neg

Avis Budget Sees Q1 Adj. Net Profit Of About $14 Mln; Gives 2012 Outlook

Avis Budget Group Inc. (CAR) has issued preliminary results for its first quarter ended March 31, 2012 and estimates of its full-year 2012 results. The company said it expects first-quarter net income of around $14 million, excluding certain items, and a GAAP net loss of nearly $23 million, due to debt extinguishment costs and acquisition-related charges. First-quarter revenue is anticipated to be $1.6 billion.

Further, the company expects full-year 2012 revenue to range between $7.3 billion and $7.6 billion. Avis Budget also forecasts effective tax rate in 2012 to be 34% - 38%, excluding certain items, and diluted share count to be some 125 million. Based on these expectations, 2012 earnings per share, excluding certain items, is projected to be about $2.35 - $2.65.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The... Jeep, the 4x4 vehicles, which has developed a strong bond with its masters, is aggressively on an expansion mode in its 75th anniversary year. Its fans have always been in love with the famous tag "Go Anywhere, Do Anything." Meat products maker Tyson Foods Inc. (TSN) reported a profit for the first-quarter that increased 49% from last year. It raised its profit outlook for fiscal year 2016 ,but it cut its annual sales guidance.
comments powered by Disqus
RELATED NEWS
Trade CAR now with 
Follow RTT