NASDAQ$CAR

Avis Budget Group Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Avis Budget Group reported a record fourth quarter revenue, driven by strong performance in the Americas.

Avis Budget Group reported a record fourth quarter with revenues increasing to $2.2 billion, a 6% increase excluding currency exchange rate movements. Net income was $142 million, or $1.90 per diluted share, while Adjusted net income was $54 million, or $0.73 per diluted share. Adjusted EBITDA increased to $143 million, and utilization improved by 100 basis points.

  • Revenues increased to a record $2.2 billion, up 6% excluding currency exchange rate movements.
  • Net income was $142 million or $1.90 per diluted share and Adjusted net income was $54 million or $0.73 per diluted share.
  • Adjusted EBITDA increased to a record $143 million.
  • Utilization improved by 100 basis points.

Headline financials

Total Revenue

$2.16B

Previous: $2.05B+5.5%
EPS (adj)

$0.73

Previous: $0.53+37.7%
Total vehicle utilization

69.4%

Previous: 68.4%+1.5%
Americas utilization

69.1%

Previous: 67.7%+2.1%
International utilization

70.0%

Previous: 69.6%+0.6%
Total per-unit fleet costs

$258.00

Previous: $265.00-2.6%
Americas per-unit fleet costs

$271.00

Previous: $288.00-5.9%
International per-unit fleet costs

$232.00

Previous: $223.00+4.0%
Total revenue per day

$54.13

Previous: $53.46+1.3%
Americas revenue per day

$57.70

Previous: $56.93+1.4%
International revenue per day

$45.86

Previous: $47.22-2.9%
Net Income

$142M

Previous: $13M+992.3%
Operating Income

$14M

No prior period
Gross Profit

$1.6B

Previous: $1.49B+7.3%
Cash & Equivalents

$686M

Previous: $615M+11.5%
Total Assets

$23.1B

Previous: $19.1B+20.8%
Stock-Based Comp

$4M

Previous: $6M-33.3%

Revenue & EPS history

Avis · Revenue · Quarterly

$2.16B

Q4 2019+5.5%vs Q4 2018
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Avis · $2.16B total across 2 segments · Q4 2019

  • Americas
    $1.53B
  • International
    $632M

Forward guidance

The company provided full-year 2020 outlook, which includes non-GAAP financial measures and excludes the effect of future changes in currency exchange rates.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+0.8%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+1.0%

Avg return

30 days after

43%

28 / 65 earnings

Positive

+106.1%

Q3 2021

Best reaction

-25.8%

Q4 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-6.1%-11.6%-3.1%
Q4 2025-21.7%-23.8%-19.0%
Q3 2025-6.1%-12.3%-13.7%
Q1 2025+0.6%+5.8%+22.4%
Q4 2024-6.8%+1.2%-30.9%
Q3 2024+7.1%+3.0%+26.9%
Q2 2024+2.2%+3.0%-11.7%
Q1 2024+19.2%+27.3%+19.2%
Q4 2023-23.1%-33.5%-33.0%
Q3 2023+14.9%+23.1%+20.2%
Q2 2023+1.9%+1.3%-1.1%
Q1 2023-2.8%-5.2%-5.0%
Q4 2022+13.6%+12.1%-12.9%
Q3 2022-9.4%-4.7%-8.1%
Q2 2022-5.2%+1.1%-8.0%
Q1 2022+6.6%-4.4%-30.0%
Q4 2021-5.5%-11.5%+55.3%
Q3 2021+106.1%+71.6%+46.1%
Q2 2021-12.8%-2.7%+10.5%
Q1 2021-7.0%-8.2%-3.3%
Q4 2020-4.2%+9.0%+50.6%
Q3 2020-4.2%-13.1%+5.3%
Q2 2020-4.1%-9.5%+19.3%
Q1 2020-0.1%+6.0%+95.7%
Q4 2019+21.8%+6.8%-73.4%
Q3 2019-8.0%-1.1%-1.4%
Q2 2019-3.0%-9.6%-29.8%
Q1 2019+1.6%+3.3%-20.2%
Q4 2018+16.5%+19.3%+12.3%
Q3 2018-2.1%+6.8%-7.7%
Q2 2018-8.2%-5.8%-12.4%
Q1 2018-9.6%-7.2%-19.8%
Q4 2017+10.7%+15.9%+15.2%
Q3 2017-14.2%-18.3%-3.6%
Q2 2017-6.6%+8.0%+11.7%
Q1 2017-5.5%-13.0%-27.3%
Q4 2016-6.9%-12.1%-14.9%
Q3 2016+12.3%+20.0%+18.4%
Q2 2016+2.5%+6.6%+0.2%
Q1 2016+1.5%
Q4 2015-25.8%
Q3 2015-7.2%
Q2 2015+3.8%
Q1 2015-2.9%
Q4 2014+2.9%
Q3 2014-1.5%
Q2 2014+4.6%
Q1 2014-3.9%
Q4 2013+12.1%
Q3 2013+8.0%
Q2 2013-6.7%
Q1 2013-0.2%
Q4 2012+4.6%
Q3 2012-0.4%
Q2 2012+7.7%
Q1 2012+3.9%
Q2 2011+1.0%
Q4 2011+1.0%
Q3 2011-5.8%
Q4 2010-5.3%
Q1 2010+1.2%
Q1 2011-1.5%
Q3 2010+5.2%
Q2 2010-0.5%
Q4 2009-0.5%

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