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Avis Budget Group Inc. Q3 adjusted earnings Miss Estimates

Avis Budget Group Inc. (CAR) announced earnings for third quarter that declined from last year.

The company's profit totaled $189 million, or $2.50 per share. This compares with $213 million, or $2.68 per share, in last year's third quarter.

Excluding items, Avis Budget Group Inc. reported adjusted earnings of $223 million or $2.96 per share for the period.

Analysts had expected the company to earn $3.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.1% to $2.75 billion from $2.78 billion last year.

Avis Budget Group Inc. earnings at a glance:

-Earnings (Q3): $223 Mln. vs. $265 Mln. last year.
-EPS (Q3): $2.96 vs. $3.33 last year.
-Analysts Estimate: $3.64
-Revenue (Q3): $2.75 Bln vs. $2.78 Bln last year.

Full year EPS guidance: $3.35 - $4.20
Full year revenue guidance: $9.0 - $9.2 Bln

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